With every regulation, there are positive and negative sides. In this
situation the government steps in when it comes to business as we
have learned in macroeconomics to allow a flow. I have learned over
the years that the government enforces laws to ensure they benefit
from it financially majority of the time. I am on the fence if there are
too many government regulations in business. After reading this
article, I do not feel the government regulation businesses are too
much. Although the government meddles in often, the government
protects people’s rights while providing a guideline for businesses
which is beneficial. When starting a business, it can be scary with all
the laws regulating the government can be helpful financially and
enforce laws to for safety of workers and work conditions which
guide new business owners.
If I had to choose one to focus less one, it would be the drug
administration. It is known about the opioid addiction across the
country especially New Jersey and New York, which have made it
harder for innocent people to receive their prescriptions. It was
changed to have the referral sent to the drug store from the doctor
to have it filled. This has not helped the opioid crisis in areas but
instead have made it difficult for elderly people to pick up their
prescriptions or to order more in the correct time span. The ongoing
to debate has been the vaccine in the country which the government
has stepped into mandate in work settings. OSHA was in favor of
enforcing it when the Supreme court had stepped in to block the law.
Vaccines that are mandates for health care setting when you are
younger or as adults can be scaled back. This might not be included
in business law now but can happen in the future. Instead, they
should focus on the price on drugs like insulin that are difficult to
purchase when it is not covered through insurance along with other
medication.
I think the government needs to focus more on minimum wage with
the increase of living. Although they analyze it state by state, I feel
the government should focus on regulating the cost of living in all
areas of America, especially in major cities. This would regulate work
hours and can help with safe working conditions to have less
employees burnt out and tired when operating machinery. In reality, I
think the government should analyze each industry and revamp each
one to fit what is happening in the world and learn from the
pandemic which includes pollution since the air was cleaner when
factories were shut down. I feel that was the chance to reset and
unite instead of divide.
Reference:
Government Regulations: Do They Help Businesses? (2022, March 17).
Investopedia. https://www.investopedia.com/articles/economics/11
/government-regulations.asp
