Government regulations can have negative and positive effects. For instance, the provision of tax and duty exemptions in a specific sector can trigger investments and generate growth. In contrast, the provision of mandatory taxes and levies in a specific industry can turn off investors. In short government regulations are either permissive or restrictive. Permissive regulations guarantee greater freedom and autonomy compared to restrictive regulations. The removal of a government regulation is not a simple task as it is the government officials that can remove it. The suggestion has to be passed by congressmen before it is approved by the president. However, there must be evidence that the removal of the specific regulation would not affect business operations in any way. A proposal from the public or business fraternity can be passed to Congress for discussion and possible removal.
Governments intervene in trade and investments with the intent to achieve political, social and economic objectives. Government intervention is important because it can protect industries from foreign competition. Government interventions can thus alter the competitive landscape by hindering or helping businesses to compete. If I were in charge of a large company I would respond to a government intervention that impeded the ability of my organization to import raw materials. The placement of tariffs on raw materials that my company needs would trigger a reaction to eliminate the tariff. I would be motivated to call for an elimination of the tariff if the local market did not have the raw materials that the organization needs. I would also be motivated by the fact that my organization would collapse if it does not access the raw materials at an affordable rate.
Money in politics is a serious problem as it forms the basis of corruption and underperformance among elected leaders. A privately funded politician would spend his term serving the interests of his financiers rather than serving the interest of his constituents. The private financiers also have the ability to manipulate the politician on critical matters that affect their interests. As a person of authority, I would demand that politicians declare the source of their money. The provision for transparency will ensure that private influential persons and organizations do not manipulate the politicians. I would also ban financial support from private individuals and organizations. The ban would ensure that the politician focuses on his constituents and the services that he can render during his term.
The traffic congestion on our roads is an ideal example of the tragedy of commons. The traffic congestion arises due to the desire of the public to use the public roads. The public roads are the common property that the public shares. Everyone gets their vehicles on the public road thus resulting to traffic congestions. The government can consider turning some public roads into private roads or toll roads where users will be required to pay a fee to use the road. Such a move would reduce traffic congestion as people would use the roads only when it is necessary. Free market capitalism encourages businesses to operate freely and with minimal consideration for existing regulations. Businesses will thus give little regard to environmental conservation measures as their focus will be on profit making. Market factors such as the increasing pressure for companies to “go green” has seen businesses adopt recycling and environmental conservation initiatives.
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