Government Over-Regulation: Freedom By The American Dream

Regulating a variety of aspects of business and society is an old and often controversial aspect of government, particularly at the national level. Much of what the national government does, or fails to do, has an impact on individual citizens, private corporations and other business enterprises, agricultural producers and marketers, foreign governments, labor unions, and state and local governments.

Baker III, J. A. (2009). Economic Policy: Recommendations for the Next Administration. Institute for Public Policy. Retrieved from http://bakerinstitute.org/publications/TEPP-pub ObamaTransitionDiamondCountryman-011209.pdf

Even though the federal government is the main source of promotion and regulation of industry in America, regulation almost inescapably obstructs success

READ: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W.W. Norton, 2003. Completely- cover to cover.

In this essay I will discuss a few terms and how their relationships apply between regulation and market structures, as well as how regulation policies affect the market.

READ: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W.W. Norton, 2003. Completely- cover to cover.

Numerous independent agencies can impose restrictions on prices, entry into markets, disclosures or contract terms. Yet agencies often conduct little or no economic analysis to identify the need for, or effects of, restrictions before they're adopted. So agencies can impose massive mandates

This also means that our political leaders that should be concerned about the effects of regulation. In my opinion, there advantages and disadvantages to regulation. The advantages are the Government should be regulating certain things to make life safer and to make America stronger, and better place to live. The disadvantages are, the government should be regulating with more common sense. What I'm saying is the government should consider the costs and the benefits of what they're regulating. Unfortunately, if the Government does not, Americans run the risk of some kind of regulation that can't be explained by anyone except a bunch of lawyers which is going to cost the taxpayers more

However, current president, Donald Trump, has urged a push back to the laissez-faire economic philosophy of Adam Smith. In a meeting with multiple executives of large American companies, President Trump explained, “cuts to both corporate taxes and regulations — promises he made for the duration of his campaign — were on the horizon” (Lam, 2017). The differing economic philosophies presented in the stimulus material and the new president’s ideas for the future of the american economy, led me to ask the research question, “Should the United States federal government increase economic regulation?” By first examining a historical lens on the effects of economic regulation, then a scientific lens on the effects regulation has on innovation in science, and finally, an economic lens to look at the overall effects of President Trump’s plans to decrease government regulation, it will be clear the United States federal government should not increase economic

The article Self-Regulations in the Regulatory Void: “Blue Moon or “Bad Moon”  showing us different scenarios when the self - regulation can be successful   or unsuccessful.

Economic regulation is defined as a type of government regulation that determines conditions or standards on entry of firms into the industry. Economic regulation shall also include the regulation of financial firms. However, economic regulation is not the only governmental regulation established. The other type of regulation, called social regulation, includes environmental controls, restrictions on labeling and advertising as well as health and safety regulations. Social regulation involves the correction of externalities. However, there are many arguments about the exact economic rationale for such social regulation. One reason which sets economic regulation apart from social regulation is that the two have followed very different paths in recent history. There has been a tremendously increasing expansion of social

Deregulation is believed to be one of the major factors that led to the 2008 Financial Crisis. Deregulation refers to the reduction of governmental influence in an industry in order to create more competition (“Deregulation”, 2015). The reduction in government influence creates a more competitive market that

The history of regulation could be traced back to the ancient civilizations such as standardized weights and measures in ancient Rome, paper currency system in China, and others including Egyptian, Indian and Greek ("Plagiarism," Wikipedia: The Free Encyclopedia). In the modern society, governments choose to intervene to correct market failure, to achieve an equitable distribution of income and wealth and to improve the performance of economy (Geoff, 2006), such as the debate on state regulation on Uber and cab drivers in WNPR News recently in the United State. In the meanwhile, one of the key economic questions, what variables contribute the difference in levels of growth of GDP among countries, has a continuing discussion among economists in their papers. Is there any casual relationship between regulation and growth of GDP? Hall and Jones (1999) showed in their papers that the performance of regulation acts a vital role of growth of GDP and found that richer countries today had better political and economic institutions in the past. Based on previous finding in this topic, exploring how differently growth of GDP performances with the variability of regulation is beneficial to find out expected performance of government in regulation in economics in the purpose of promoting better growth of economic. Thus, this paper will focus on exploring how to evaluate the effect of government regulation in economic area in terms of Gross Domestic Product growth. The

* McConnell, C., Brue, S., & Flynn, S. (2012). Macroeconomics: Principles, Problems and Policies, Nineteenth Edition. McGraw-Hill Companies, Inc.

Regulations imposed by the government in any economy determine the market efficiency and growth. Policies and laws governing the flow of goods and out flow determined the internal trade affairs. When the government formulates policies and regulations, which is the market conducive, efficiency is enhanced. In such instances, the outcomes of the market yields can be predicted. Such ability of the policies and regulations to enhance efficiency in the markets can be enabling the government to have prior arrangements and plans concerning future economic goals. On the other hand, as the governing body there is a need to establish the effectiveness of the current policies in enhancing marketing efficiency. However, there is a need to establish the criteria for determining the correctness and effectiveness of the regulations which are to be set. Governing body should intervene in the control of the market regulations though independent bodies and private sectors should be involved in such regulations formulations. Many economies, such the United states and United Kingdom, the government has the power to intervene in the market policies. When the market fails in such instances, the government is blamed for the failure. The modern economies advocates for more freedom of choice in the formulation of regulations of the markets. Others concentrate on the efficiency of the policies and regulations in the achievement of the market goals.