Generally, when there is a crisis, lawmakers do what they have power to do - pass a law or adopt a regulation. However, through time, the amount of regulations ebbs and flows. Then when President Reagan was elected in the 1980s, we entered a major period of deregulation. During the 1990s, we had a few additional laws passed but nothing like the period of time in the 1970s. Currently, we are again in a period of time of de-regulation.

What role do you believe regulations play in steering the behavior of business? Explain. If you believe they play a role, explain. Pick an industry for which you believe regulations are very important and discuss.

If you believe regulations do not steer ethical business conduct, then explain your point of view. What then steers ethical behavior?