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UGBA 2.1 - Government role in Business Is a paradox...

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Government role in Business: Is a paradox: Americans may believe that there are too many regulations, but how do we sort out which are necessary and which aren’t necessary? There has been a recent increase in Federal Regulation in Companies Less State Regulation New Regulation: We’ve all had cribs as a child. 1 side is stable, and 1 is slidey. The Obama administration learned 32 Children died from chocking 3.2 babies per year: is it a lot? A litle? How can the market solve the problem? Most parents didn’t even know about this case. Consumers were inadvertently buying potentially lethal cribs. Now these cribs are no longer commercially produced. No recall, but they cant be made or resold. No more drop down Role of Law in a Market Economy: We need it: Prevent stealing, enforce contracts, etc: Important and essential role Regulation differs: Some capitalistic economies have more regulation than others. 2 BROAD Categories: Social/Protective Regulation, and Economic Regulation Social : Designed to protect the health and safety of America FDA: Food/Drug Association EPA: Environmental and Protection Agency EOC: Equal Opportunity Commission These Agencies are broad: and protect American’s Health, Safety, Wellness and Fairness in the Workplace.
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