The Role of Government in Business Essay - 1425 Words

History Ever since the colonial times businesses in the United States of America faced business regulations. During the 19th century, when the American economy became more industrialized, and grew to a world power, the federal government passed business laws, that favored social reforms over the interests of big business. In the 20th century government involvement in business continued to expand. So made Roosevelt’s â€Å"New Deal† legislation effectively the federal government the countries largest regulator of business and the economy, after the great depression in the 1930’s (U.S. Department of State publication, 2008). Later during this century, the regulation by federal or state, were widely replaced by newly for this purpose formed†¦show more content†¦On the other hand, the US government could not sustain itself, without the economic growth created by public businesses. Although the present system, consisting of federal and state regulations, may often se em to be inconsistent or even self-contradictory, and furthermore, confusing to lobbyists and abhorrent by the business community, compared to many others in the world it is a relatively loose one, creating the US as a nations, whose business welfare depends a lot on the decisions of private entrepreneurs. The role of government in business Although or despite, the private sector is the United State’s biggest economic driver, the government beliefs it needs regulation. As described earlier, the governments role in business is as old as the country itself, and it is empowered by the Constitution to regulate some commerce. While the government’s influence has increased a lot over time, businesses still enjoy a comparatively considerable freedom. The next section, will give an overview of the possibilities the government has to exercises its authority. Before a company can start to operate, it needs to register with a state government. This permission is to define the financial liability of the owners, and to allow the government to monitor companies to execute its functions in the business world correctly (United States Department of Commerce, 2011). The government enforcedShow MoreRelatedThe Role Of Governments Play An Important Role Of Business Innovation1296 Words   |  6 Pages ‘Governments play an important role in business innovation.’ Discuss in relation to two sectors. Introduction It is a common notion that it is primarily the private sector that drives innovation and economic growth, while the government, at best, plays only organization role in ‘fixing market failures’. Under this myth lies a different story, where some of the best advanced economies in the world have been shaped directly by government ¬ led investments. 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