Government regulation of business is pervasive in the United States. Discuss the regulatory environment in detail, including in your answer:

a. Arguments for and against the regulation of business.

b. The constitutional basis for government (both federal and state) regulation of business.

c. Recent trends in regulation.

d. Various ways the government regulates business activity.

e. A specific example of government regulation and its impact on business and society.

f. The cost of government regulation and who pays those costs.

g. The future of government regulation.