Government Intervention And Public Policy Term Paper

The Justification of Government Commerce and Trade Regulation

When viewed from the micro level, it is easy to understand why government regulation and exercise of authority over jobs, wages, industry practices, and the importation and exportation of goods and services might seem overly paternalistic. However, when compared to the alternative, it becomes very clear why such regulation is necessary, or at least why it is, by far, the lesser of two evils.

Without government regulation in these areas, the individual citizen would be at the mercy of decisions made by non-government entities acting purely out of their own self-interests. Among other things, wages would remain as low as could be maintained by the demand for jobs; essential industries and services would be susceptible to monopolization for commercial profit at the expense of the general public; prices would be inflated artificially by collusion and price-fixing; and domestic production would be threatened by cheaper foreign products and labor (Hill,...

...

In principle, the use of government authority to influence foreign affairs through trade policy is justified for the same reasons. However, in practice, there are significant potential issues, such as those arising in the context of exactly what commercial interests (or, more specifically, the commercial interests of whom) those policies reflect.
Conclusion

Undoubtedly, there are reasons for concern that national policies in those areas can be unduly influenced by big business and other powerful lobbies. However, those concerns do not conflict with the notion that national government entities are the appropriate authorities to regulate trade and commerce issues that affect the nation. If anything, the risk of undue influence from private entities only reinforces the justification by offering a small glimpse into the comparative problems associated with the absence of any government regulation.

Reference

Hill, C. (2009). Global Business Today Sixth Edition. New York: McGraw-Hill.

Cite this Document:

"Government Intervention And Public Policy" (2010, October 14) Retrieved April 14, 2024, from
https://www.paperdue.com/essay/government-intervention-and-public-policy-12070

"Government Intervention And Public Policy" 14 October 2010. Web.14 April. 2024. <
https://www.paperdue.com/essay/government-intervention-and-public-policy-12070>

"Government Intervention And Public Policy", 14 October 2010, Accessed.14 April. 2024,
https://www.paperdue.com/essay/government-intervention-and-public-policy-12070

Related Documents

" (Assessing, Selecting, and Implementing Instruments for Government Action, 2007) Questions that must be asked are those as follows: (1) Is the issue one where government can act alone? (2) Is the issue one where external actors can act alone with some influence from government? (3) Is the issue one where a mixed governance approach is required, that is, where government and external actors need to act together? (4) What

S. General Accounting Office (GAO) estimates' in 1991 stated that nearly 30% of those incarcerated had used drugs daily in the month before committing the offense for which they were in prison. By the year 2003 there were approximately 6.9 million individuals either on probation, in mail, or in prison which equals 32% of all U.S. adults residents or 1 out of every 32 adults. (U.S. Bureau of Justice Corrections

Public Policy and Health
PAGES 5 WORDS 1694

Public Policy and Health Increasing premium costs for managed care have considerable influence for America's workforce. The rise in the financial burden on the workforce to contribute to their health care plans to assist offset increasing premiums paid by business owners cause the workforce to drop the coverage. The number of the uninsured remains the most glaring evidence of the U.S. healthcare crisis. Regardless of opinion polls regularly depicting that a

Public Policy
PAGES 11 WORDS 3594

British policy style? As one begins to consider British policy, both foreign and domestic, one conjures pictures of the Queen-mother and her regal adherence to British tradition. In this way the Queen-mother stands as an icon of everything that is British. One pictures solicitors, in their powdered wigs and smart suits engaging in scholarly argument that will shape British policy in the future. These icons are the epitome of British

Public Policy
PAGES 2 WORDS 599

Iron Triangle Public policy in America can be neatly visualized with the Iron Triangle, in which government, special interest groups, and the bureaucratic systems interact. Congressional committees, special interest groups, and bureaucracies are the three points on the triangle, and the designator "iron" signifies the strength and immutability of the institutions and relationships between them. Iron also symbolizes the rigidity of policy making, which does not allow stakeholders or parties outside

government intervention through examining the meaning of market failure, reasons the market under-produces public goods, how externalities result in distortion of market outcomes, how market power prevents optimal results, and policy options for government interventions. The author considers market failure as the what question that contributes to the potential for government intervention in order to generate the most appropriate combination of output with present resources. Through an analysis of