The Justification of Government Commerce and Trade Regulation
When viewed from the micro level, it is easy to understand why government regulation and exercise of authority over jobs, wages, industry practices, and the importation and exportation of goods and services might seem overly paternalistic. However, when compared to the alternative, it becomes very clear why such regulation is necessary, or at least why it is, by far, the lesser of two evils.
Without government regulation in these areas, the individual citizen would be at the mercy of decisions made by non-government entities acting purely out of their own self-interests. Among other things, wages would remain as low as could be maintained by the demand for jobs; essential industries and services would be susceptible to monopolization for commercial profit at the expense of the general public; prices would be inflated artificially by collusion and price-fixing; and domestic production would be threatened by cheaper foreign products and labor (Hill,...
" (Assessing, Selecting, and Implementing Instruments for Government Action, 2007) Questions that must be asked are those as follows: (1) Is the issue one where government can act alone? (2) Is the issue one where external actors can act alone with some influence from government? (3) Is the issue one where a mixed governance approach is required, that is, where government and external actors need to act together? (4) What
S. General Accounting Office (GAO) estimates' in 1991 stated that nearly 30% of those incarcerated had used drugs daily in the month before committing the offense for which they were in prison. By the year 2003 there were approximately 6.9 million individuals either on probation, in mail, or in prison which equals 32% of all U.S. adults residents or 1 out of every 32 adults. (U.S. Bureau of Justice Corrections
Public Policy and Health Increasing premium costs for managed care have considerable influence for America's workforce. The rise in the financial burden on the workforce to contribute to their health care plans to assist offset increasing premiums paid by business owners cause the workforce to drop the coverage. The number of the uninsured remains the most glaring evidence of the U.S. healthcare crisis. Regardless of opinion polls regularly depicting that a
British policy style? As one begins to consider British policy, both foreign and domestic, one conjures pictures of the Queen-mother and her regal adherence to British tradition. In this way the Queen-mother stands as an icon of everything that is British. One pictures solicitors, in their powdered wigs and smart suits engaging in scholarly argument that will shape British policy in the future. These icons are the epitome of British
Iron Triangle Public policy in America can be neatly visualized with the Iron Triangle, in which government, special interest groups, and the bureaucratic systems interact. Congressional committees, special interest groups, and bureaucracies are the three points on the triangle, and the designator "iron" signifies the strength and immutability of the institutions and relationships between them. Iron also symbolizes the rigidity of policy making, which does not allow stakeholders or parties outside
government intervention through examining the meaning of market failure, reasons the market under-produces public goods, how externalities result in distortion of market outcomes, how market power prevents optimal results, and policy options for government interventions. The author considers market failure as the what question that contributes to the potential for government intervention in order to generate the most appropriate combination of output with present resources. Through an analysis of
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