Abstract
Government regulation of industry is commonly justified by the existence of socially undesirable conditions and the necessity of their elimination or prevention. Regulatory commissions generally have the purpose of protecting consumers from exploitation by limiting the economic powers of cetrain firms having pervasive effects on the public interest [4, 151]. Due in part to the social implications of alcoholism, the liquor industry has not escaped regulation by state and local governments. A variety of statutes have existed in Minnesota governing the behavior of the liquor industry, including licensing restrictions and minimum resale-price maintenance. Resale-price maintenance (RPM) on liquor existed in Minnesota from 1951 to 1969, its stated purpose being:
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