The antitrust laws are the basis of this national policy. These laws, enforced by both the federal and state governments, require companies to compete in the marketplace. The Sherman Act, the first federal "antitrust law," was enacted in 1890, at a time when there was enormous concern about "trusts" -- combinations of companies that were able to control entire industries. Since then, other laws have been enacted to supplement the Sherman Act, including the Federal Trade Commission Act and the Clayton Act (1914). With some revisions, these laws still are in effect today. They have the same basic objective: making sure there are strong economic incentives for businesses to operate efficiently, keep prices down, and keep quality up.
The scope of this paper is to break down and define social regulation, industrial regulation, and natural monopolies by explaining how they have impacted society and why they exist. It is also the intent to summarize the Antitrust Laws, explain the major functions of the five primary federal regulatory commissions that govern social regulation, and identify three main regulatory commissions of industrial regulation.
Wayne, Lasser, Miller and others tend to agree that lobbyists and PACs have a great amount of influence over congress members because they may have direct connections and give campaign contributions. Recently, the airlines industry convinced congress to pass a $15 billion aid package it needs in order to survive. “The airlines had plenty of resources to draw on: 27 in-houses lobbyists, augmented by lobbyists from 42 Washington firms, including former White House aides and transportation secretaries, as well as the airlines own chief executives and corporate board members, whom all are well known in the halls of congress”(Wayne, NYT, 10/01/01. Lasser, American Politics, 1999. Miller, The American Prospect, 10/23/00. Geiger, Washington Post, 11/4-10/91.)
Campaign donations and lobbying are other methods used by corporations to influence government officials and policy. A good example, in the election cycle of 2000, there was an estimated $1.2 billion given to congressional campaigns in both parties, by corporations. . Unless you are rich, it is nearly impossible to run a viable congressional campaign without corporate financial backing, since their donations make up about 75% of the money that candidates receive . In the most recent election, the candidate who raised the most money won 94% of the time (Citizens at Work, 2003). Without corporate money, it is very difficult for politicians to win elections and maintain their office.
Does the government have the right to regulate large corporations, namely the Microsoft Corporation? If so, then to what extent can the government do so? Based on our research, it is the government’s responsibility to remedy Microsoft’s noncompetitive behavior in order to increase fair competition.
As industrialization caused cites to grow in leaps and bounds, political bosses started to take power. As the 19th Century came to a close, almost every sizable city had a political boss, or at least had one rising to power. Tons of immigrants from every part of the world began to pour into the major cities. Cities have had diversity in the past, but the huge diversity of the American cities was unique.
In the Executive Branch, there is a limited central oversight or supervision of government corporations. There is not any central agency assigned to design government corporations with presidential perspective and central management interests. Therefore, government corporations are seen as separate institutions with their own charter that have their own political and administrative requirements, and also their own political accountability. On occasions, some corporations may be scrutinized by a Congressional Committee that is responsible for oversight or by the Office of Management and Budget (OMB).
Government corporations have to be sufficiently compensated for the delivery of their public policy objectives. However, with this compensation, they may be overly subsidized for their commercial activities, which will distort the level playing field with private companies, and finally cause inefficiencies in the economy. It is crucial that government corporations should not be overly funded to offset their financial or operational inefficiencies, and this compensation truly reflect the actual costs of the related public policy
A labor union is an organization of employed workers that formed to undertake collective bargaining with employers and to try to achieve improved working conditions for its members.
2-1.) In most cases, private businesses would prefer not have government regulate how they achieve their interests, but there are situations where private businesses benefit from some types of regulations. One of the purposes of government includes the promotion of business to grow and expand, so that its outputs and outcomes benefit all of society. This is done via a trickle down affect that includes changes to employment opportunities, community incomes, business sales and services and state revenues. Government is also mandated, through another purpose, to protect the health, safety and welfare of the public from being harmed by threats or actions from internal or external entities. Business regulation by government is a process that restrains
Several corporations end up cooperating with representatives in the government and the Congress to sway decisions which are being made to lead policy making. These persuaders are self-interests people with no regard for the general public good. Even though lobbying is accepted by the American Constitution, it is perceived by many such as the media as intrusion to the method of making public policies. However, it has turn out to be part of the basic method of making choices. Usually, individuals and business get involved in lobbying activities if some laws and regulations made are not promising to their activities. They are permitted to meet with Congress and representatives whom they consider can with no trouble be swayed or influenced; however, there are guidelines and protocols which must be abided
The Government- It includes Legislature and passing of laws to organisations like Asda. Asda need to use important legal information from the Government to help run the business successfully and legally. For example if a company had over 500 employees that were being paid the minimum hourly rate as enforced by the Government and the rate changes then the company needs to take this information on board and increase the wages for the staff. The government also pass laws that make them aware of certain laws that have been passed like the underage employment and the Corporation Tax.
Though business-like mechanisms can create a more efficient and potentially innovated government, government and business should be run differently, since they are inherently different in their conceptual values. Appleby explains some of these differences. He argues that no one can serve the public as it should be served unless he or she has a public-interest attitude with certain special characteristics. In addition, business has much narrower extent, while public officials are more broadly stimulated, with a breadth of view and a public-interest attitude. Government is complex as well as vastly interdependent with many other nonprofit and private organizations. Also, the government is subject to public scrutiny and public outcry. According to Denhardt and Denhardt, government acts, in concert with private and nonprofit groups and organizations, to seek solutions to the problems that communities face. In the process, the role of government is transformed from one of controlling to one of agenda setting, bringing the proper players to the table, facilitating, negotiating, or brokering solutions to public problems—often through coalitions of public, private, and nonprofit agencies. Finally, government is different from business
The research updates and extends the Faccio (2006) databases of company officers and politicians, and uses procedures and resources similar to those of Faccio (2006) to identify politically connected firms. The authors then move a step ahead by identifying the date of establishment of political connection i.e the date when a politician was appointed a board member or when a company