The Wall Street Journal published an article on Thursday, October 20, 2002 titled The Deregulators. For years and years, the Federal Government regulated all types of industries. The government has intervened in the market with regulations as a means of exerting control and influence over the economic behavior of businesses and individuals. In the late 1970’s, government regulations were under review by many for holding the economy from further progress. The idea of deregulation would hopefully provide more competition and freedom in the economy.
The trend towards the deregulation of many industries was sparked by the Carter administration in the United States. Up until the 70’s there was the idea that the government should intervene in the economy. However, as regulations came under review from economists, the idea of
The business world today has become much smaller through the digital world of wireless phones, computers, and information technology. There is more international trade and transformation of small companies into multinationals that provide services all over the world. The regulations that once kept smaller companies from entering into new markets now allow companies to enter into multiple markets. Without question, certain things must be regulated. On the other hand, one will never truly know or could never predict how to drive this economy. One can only use their best judgment to lead this country in the right direction.
One positive take on regulation is the reduction of fraud. Unfortunately, many companies fold due to fraudulent deals. Although regulation cannot totally put an end to unethical business, it would definit
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