Compare and contrast the competing viewpoints regarding economic regulation.
What will be an ideal response?
Economic regulation in a capitalist economy is often a very controversial issue. Those who favor regulation believe that a market left to its own devices can create numerous problems for individuals and society-wide due to its unfair and unpredictable nature. To support this position they point out such problems as the 2008 subprime mortgage. Opponents of regulation argue that increased regulation leads to increase production costs, which leads to higher prices and fewer choices for consumers. Answers should reference the regulation of the airline industry and the ways in which both sides employ it to further their position. It should also be pointed out that Republicans who possess close ties to business, generally speaking, tend to support deregulation whereas Democrats, who possess close ties to labor, push for more regulation.
You might also like to view...
In the Fourth Republic, Nigerian civil society groups have sought to influence politics through all of the following tactics EXCEPT
a. direct actions like strikes and protests. b. forming relations with the National Assembly and state legislatures. c. forming close relations with political parties. d. establishing close ties to state officials. e. exposing government corruption.
An institution by which a geographically defined group of people organize themselves to achieve their common goal is a(n) _____
a. government b. interest group c. caucus d. election
Which branch of government typically initiates the budgetary process?
A. executive B. federal C. legislative D. senate
Which function of government stated in the Preamble is consistent with the notion of having government-provided police protection?
a. establishing justice b. securing the blessings of liberty c. promoting the general welfare d. ensuring domestic tranquility