The government is the result of the formal contract between citizens of a country and said country. The citizen gives up the ability to act lawlessly, with the promise that the government, in turn, will systematically regulate the needs of the people and establish a just society. Instead of letting people run free with whatever weaponry they can find, guns are controlled–in turn, a police force and court are created so justice could be enforced. Citizens have to obey traffic laws, and in turn, governments can create a driving system everyone is required to follow, allowing more safety than if everybody followed their own driving rules.
However, one area of debate still ongoing is, “How big of a role should the government play in regulating businesses?”
People who are against governments playing a big role in regulating business cite the low satisfaction in current government-ran projects in the United States, including a bad public education system, slow progress in public construction projects, and generally error-prone path of obtaining citizenship and other documentation, such as a driver’s license. This results in a major argument being, “How can we trust the government to do a good job regulating private businesses when they can’t even manage theirs properly?”
Similarly, another argument against heavy government regulation is the fact that private businesses thrive because they are private and have the ability to make choices for themselves. As discussed in our previous post, what makes startups thrive is their innovation. How can innovation occur when under government management? Lastly, people are scared of government regulation because it’s a “slippery slope.” At first, even if corrupt industries are regulated for the better, the government may start to abuse their power onto other businesses simply because they feel like it.
On the flip side, people who support government ordinance cite how workers are often abused and underpaid. A study has found that in 2022, 44% of workers aged 18 to 64 earn low hourly incomes, which is problematic due to the fact that housing prices have risen by 500% in the past fifty years, with income only rising by 300. If the government plays a bigger role in businesses, the government will be able to improve the living conditions of workers. In fact, acts have already been passed that do exactly this: the minimum wage in California is $16.00/hour, over twice as high as the federal minimum wage, which is $7.25. As soon as June, the minimum wages in California will be raised again. Additionally, the government will also be able to systematically address ethical issues raised by corporations, especially in controversial fields such as biotechnology.
What do the members at SVYEP think?
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