Question

How would you respond to this post?

Traditionally Republican politicians believe that less government intervention in the marketplace is beneficial, while Democratic views lend themselves more towards government regulation. Overtime party lines have become increasing blurred and unless an individual falls to the extreme right or left on the political spectrum will more than likely have opinions that support the opposite of their affiliated parties. In most cases I believe that limiting government regulation allows businesses the opportunity to grow and reshape the marketplace as various factors change (Technology, Cost of Living, etc.), evolving into a sustainable marketplace for the current era. With that said agencies and regulations that protect consumers such as the FTC which protects against false advertising and monopolies(among other things) are beneficial in protecting consumers, potentially unknowingly, against unfair business practices and prove beneficial. Regulations seem to increase after series of events occur. For instance Enron and multiple other large corporations were discovered to have been practicing unethical accounting methods, Sarbanes-Oxley was born; the housing market crash and the subsequent development of NMLS registry for mortgage loan officers. In both of the aforementioned instances the marketplace did not self-regulate, had it not been for the Fed stepping into solve the credibility issue during the housing crisis we could been faced with an economy worse than that of the Great Depression and taken decades to recover from.

Answer 1

ANS- The discussion given here is about government intervention in the marketplace and i would like to go with the democratic views who are in support of government regulation and which i too think is a good thing which government does because if there is no intervention in the marketplace then the businesspersons will do whatever they want to. They will get involve in unfair trade practices, charge high rates from the consumers. Even employees working under them would not be treated well if there are no rules and regulations. Some examples are also given in the discussion about Enron and multiple other large corporations who were discovered to have been practicing unethical accounting methods. So we can see if there is no government intervention people will tend to do whatever they want to and which gives them more money. They would not see whether it is fair or unfair.