Administrative Law and Business
An individual can think that the government’s regulations are too much since it can burden or inhibit businesses, especially small businesses. However, I believe that government regulation on businesses should mitigate the level of damage done to the country’s economy, according to the 2008 credit crisis. I believe the government should put regulations to ensure ethical conduct through businesses by serving as balances and checks to offer additional oversight. The balance should be to ensure that burdensome or unnecessary regulations do not suffocate the businesses. Also, the rights of consumers should be protected through the overseeing of government regulatory agencies. For instance, the Securities and Exchange Commission (SEC) seeks to facilitate capital information, maintain efficient, orderly, and fair markets, and protect investors (SEC, 2015). There should be rules or fines set for businesses that tend to monopolize a market. Also, businesses that operate according to the government regulatory agencies’ ethical conduct should be provided incentives such as tax breaks to motivate them to continue with their honest and lawful operations in the market (Breslin, 2017).
However, different political perspectives could support the political spectrum based on the businesses and marketplace. Some political individuals believe that government regulations help in keeping consumers and investors out of danger. In contrast, other political individuals believe that government regulations are expensive to be efficient, especially for small businesses. Hence, the political stance provided by an individual determines their reactions towards government regulations. Also, businesses have political attachments that could determine their perspectives toward government regulations. For instance, the businesses that deal with or care for the environment can associate themselves with interested political partners who would help conserve the environment.
References
Breslin, C. (2017). Role of Government in Business Ethics.
Securities and Exchange Commission (SEC). (2015). Retrieved from http://www.sec.gov/about/whatwedo.shtml