Discussion: Impact of Government Regulation

Discussion Week 9 Econ
Name
Institution
Discussion 1. Impact of Government Regulation
Government’s role to in this case is to intervene where necessary and in most cases they save lives. For example, if a certain drug is approved, but ends up causing harm to people, the government is blamed. Therefore, in most cases where government thinks that the drug may cause more harm than good, it would disapprove the product or simply delay its approval to save lives. Government regulations are viewed as appropriate, for example, the need for stores to label their products showing nutritional values, give customers a variety of choices. However, there are times when certain regulation seems to undermine civil rights and hinders growth. The discriminatory laws imposed in the south were blamed for deterring growth as compared to the north where there was rapid, owing to the absence of such discrimination laws. When government regulates, they do not look at the unseen, but focus on possibilities. The unseen includes, when government regulations is to be implemented by small shop, it would run out of business because the shop would afford to hire an expert to label its products. The shop eventually c...