Beruflich Dokumente
Kultur Dokumente
10
Federal Regulation of
Business
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War Blips
Civil War there was limited control over
production and prices, but the North created the
National Banking System to help finance the war.
World War I introduction of substantial
controls over industry, but the war ended before
the controls began to bite.
World War II and to a lesser extent the Korean
War wartime controls were completely
abandoned.
Vietnam War and wars in the Middle East no
comparable increase in regulation.
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Regulate commerce
Provide for the general welfare of the Unites States
Levy and collect taxes
Provide for the common defense
Borrow money
Establish bankruptcy laws
Promote science and useful arts
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Administrative Costs of
Regulation
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Benefits of Government
Regulation
Regulation has helped to:
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Starting a business
Hiring and firing workers
Enforcing contracts
Getting credit
Closing a business
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Concluding Observations
There have been ups and downs in the trend of
regulations, but the basic direction has been
up, with respect to both total volume and
complexity.
The cost of federal regulations is huge, but the
cost is offset in significant degree by the many
benefits of regulation to society as a whole,
individuals, companies, and industries.
Analysis of both costs and benefits suggests
that costs can be reduced and benefits
increased by reforms in the regulatory system.
McGraw-Hill/Irwin
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