The US Laws and Guidelines Governing Fair and Equitable Business Practices
The US Laws and Guidelines Governing Fair and Equitable Business Practices
BUSN115
September 21, 2013
Professor Neal McGregor
The US Laws and Guidelines Governing Fair and Equitable Business Practices
The United States became one of the most influential world powers virtually overnight. The system of functionality which maintains this growth and power is the refined codes of business practices which are the cornerstone for domestic and international business relations the world over. Due to the unprecedented growth and prosperity of our nations economy and government, many countries look to us as a model of free enterprise for other nations. One doctrine of thought is the United States belief that our government functions best when it leaves the fate of businesses to either succeed or fail on their own, through influence of regulation to assist in the overall success of the business, but, leaving it up to the business owner/s to fairly practices these guidelines to ensure that all parties involved in the business have equal opportunity for growth.
The other doctrine of thought is the belief that the government functions best on a system of assistance toward publically and privately owned companies and that the sole function of the government is to ensure the care and prosperity of its citizens.
With either of these thought practices, the functionality of the United States economy as a whole relies solely on regulations from the government to ensure fair practices. A complex web of government regulations has been put in place to ensure fair business operations. Just like the IRS comes out with a wide array of new regulations every year to ensure the tax laws continually evolve, so does the government come out with thousands of new pages of regulations to communicate to businesses the ins and outs of what US businesses can and cannot participate in.
One system of laws, which defines the government’s role in fair and equitable
BUSN115
September 21, 2013
Professor Neal McGregor
The US Laws and Guidelines Governing Fair and Equitable Business Practices
The United States became one of the most influential world powers virtually overnight. The system of functionality which maintains this growth and power is the refined codes of business practices which are the cornerstone for domestic and international business relations the world over. Due to the unprecedented growth and prosperity of our nations economy and government, many countries look to us as a model of free enterprise for other nations. One doctrine of thought is the United States belief that our government functions best when it leaves the fate of businesses to either succeed or fail on their own, through influence of regulation to assist in the overall success of the business, but, leaving it up to the business owner/s to fairly practices these guidelines to ensure that all parties involved in the business have equal opportunity for growth.
The other doctrine of thought is the belief that the government functions best on a system of assistance toward publically and privately owned companies and that the sole function of the government is to ensure the care and prosperity of its citizens.
With either of these thought practices, the functionality of the United States economy as a whole relies solely on regulations from the government to ensure fair practices. A complex web of government regulations has been put in place to ensure fair business operations. Just like the IRS comes out with a wide array of new regulations every year to ensure the tax laws continually evolve, so does the government come out with thousands of new pages of regulations to communicate to businesses the ins and outs of what US businesses can and cannot participate in.
One system of laws, which defines the government’s role in fair and equitable
References: [1] Taylor, Martyn D. (2006). International competition law: A new dimension for the WTO?. Cambridge University Press. p. 1. ISBN 978-0-521-86389-6. [2] Herbert Hovenkamp, 'Chicago and Its Alternatives ' (1986) 6 Duke Law Journal 1014–1029, and RH Bork, The Antitrust Paradox (Free Press 1993) [3] Addyston Pipe and Steel Co. v. United States: 175 U.S. 211 (1899)