After reading the essay on Government Regulations, I believe it is debatable if we have an excessive amount of industry regulation. While the American free-market system is highly complicated, I think it is one of our greatest successes. It was all put in place to protect the public, the environment, and consumers. With such a competitive economy and job creation, these lengthy and complicated regulations are still necessary. Still, they are also limiting businesses, forcing them to relocate operations abroad and causing them to break the law. "Any regulation that is consistent with the fundamental role of free-market competition has the potential to bring critical advantages."(Government Regulation: The Good, The Bad, & The Ugly | Regulatory Transparency Project, 2017) It is a significant advantage if it benefits the environment, investors, customers, and the general public's health and safety. Without these regulations, firms would damage the environment and would only act in their own best interests and maximize their profits. I believe that specific industry sectors do not require less regulation but rather strengthen what we already have. While it is all about competitiveness and is highly costly, the vast corporations are less concerned than small firms, non-profits, and schools, who would gain and expand from cost reductions because they bear the most weight. At the same time, due to the high costs, larger corporations look for loopholes or violate the law to avoid them. Perhaps a less competitive climate would be beneficial; however, while this sounds ideal, it will never happen.

References

Government Regulation: The Good, The Bad, & The Ugly | Regulatory Transparency Project. (2017). Regulatory Transparency Project. https://regproject.org/paper/government-regulation-the-good-the-bad-the-ugly/

Kubasek, N. (2017). Dynamic business law. Dubuque, IA: Mcgraw-Hill Education.

need a reply to this discussion please! Thanks!