Govt Regulation in Private Sector - 1536 Words

July 30, 2007 What are the key reasons for Government regulation of the private sector? In an economy there are two sectors, the public and private. The private sector, by definition, is the part of a nations economy that isnt controlled by the government.(Investorwords). Several business organizations make up the private sector with the three basic ones being sole proprietorships, partnerships, and corporations. Most are for profit and part of that profit goes to the government in the form of taxes. The private sector can be referred to as a market. Markets operate by themselves and allocate resources efficiently, but theyre not perfect. Government regulation of the private sector is justified under two circumstances: when flaws†¦show more content†¦Fairness, a moral consideration, would be a reason for why a natural monopoly would be regulated. For developing countries, their developmental objectives such as growth are very important. Natural monopolies like electricity or telecom munications are crucial to a nations infrastructure. Would an unregulated private monopoly make the proper investments necessary to offer the good or service to everyone today and in their countrys needs overt time. If mishandled, an unregulated private monopoly could easily slow the grow of a developing country. Why do we need antitrust laws? The antitrust law prohibits non-competitive behavior and unfair business practices. The term antitrust was originally formulated to combat business trusts, now more commonly known as cartels. A distinction between single-firm and muti-firm conduct is fundamental to the structure of the U.S. antitrust law which Philop Areeda has pointed out, contains a basic distinction between concerted and independent action.(Areeda) Some activities are subject to more investigation, such as price fixing, bid rigging, geographic market allocation, and fraud. Consumer protection laws are a part of the antitrust laws. They attempt to regulate some aspects of the relationship between consumers and businesses. Antitrust laws are further seen in agreements of trade, monopolization and attempted monopolization, anticompetitive mergers, and in tie-in schemes. Anticompetitive behavior are typicalShow MoreRelatedWeek 5 Case Study: Investment Potential in the Healthcare1150 Words   |  5 Pagesnext few decades. In fact, the healthcare industry in America is expected to generate 3.2 million new jobs through the year 2018, which is more than any other American industry (Healthcare, 2011). This industry includes everything from small-town private practices of physicians who employ only one medical assistant to busy inner-city hospitals that provide thousands of diverse jobs (Healthcare, 2011). 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