regulation [reg″u-la´shun] 1. the act of adjusting or state of being adjusted to a certain standard. Government regulation of the U.S. economy has expanded enormously over the past century, prompting business complaints that interventions impede growth and efficiency. While regulations can create a series of hoops for small business owners to jump through, government regulation is intended to protect the greater good and ensure a fair playing field in the marketplace. The need for more responsive and effective business regulation was at least part of the reason for the fight for independence and the establishment of the federal government. In 1765 the Stamp Act taxed most legal and printed documents, as well as dice and playing cards. Tax Code. The Court ruled in favor of Gibbons and declared that commerce involved not only buying and selling but also transportation and navigation. The Clayton Antitrust Act is designed to promote business competition and prevent the formation of monopolies and other unethical business practices. For instance, a licensed mental health professional in private practice can offer her clients assurance about her training and can give them an avenue for filing complaints, leading to increased trust. By 1860 only a few transportation and banking enterprises remained in state hands. Learn more about policy that reduces stifling government regulation of every aspect of our lives with Solutions. ASSISTED LIVING Under pressure from the American government, Fiat and other manufacturers obeyed the new safety regulations. The second is that of the administrator, who is authorized to regulate trade practices. As the U.S. economy became more industrialized and the United States grew to be a world power in the nineteenth century, the federal government passed business laws that favored social reforms over the interests of big business. The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in a very business-driven society. The Small Business Administration (SBA) has taken the lead in defining what constitutes a small business in the eyes of the federal government, and the SBA’s definition is the most widely used. Dictionary of American History. Day served on a Court dominated by Justice oliver wende…, Government Publishing Office, United States, Government Printing Office, United States, Government Finance Officers Association of United States and Canada, Government Ethics (USOGE), United States Office, Government Surveillance and the Right to Privacy, Government Treaties with Native Americans, Government, Colonial, in Portuguese America, Government, United States Federal, Impact of the Great Depression on, Government-Sponsored Research on Parapsychology, Occupational Safety and Health Administration, https://www.encyclopedia.com/history/dictionaries-thesauruses-pictures-and-press-releases/government-regulation-business, Antitrust, Business, Corporate and Contract Law. College Station: Texas A&M University Press, 2002. ." When the Court ordered the dissolution of the Standard Oil and American Tobacco trusts in 1911, it ruled that these trusts placed "unreasonable restraint" on trade. Multinational enterprises must comply with business regulations of countries in which they operate as well as regulations for products or services in countries in which they sell. First is public safety and welfare. Pennsylvania in particular bought stock in scores of manufacturing and transportation enterprises. Regulations are rules made by a government or other authority in order to control the way something is done or the way people behave. Dictionary of American History. Then, copy and paste the text into your bibliography or works cited list. Therefore, that information is unavailable for most Encyclopedia.com content. What does government regulation mean? Most online reference entries and articles do not have page numbers. You can help protect yourself against the downsides of government regulation in the following ways: Although the government does regulate small businesses in many ways, they don't do so without giving ways to find free help with compliance. The 1980s and 1990s saw further deregulation. Pros and Cons of Government Regulation on the Economy Cons of Government Regulation It creates a huge government bureaucracy that stifles growth. Similar legislation was enacted in several other states including Delaware and Maine, and trusts took the form of holding companies. Governance comprises all of the processes of governing – whether undertaken by the government of a state, by a market, or by a network – over a social system (family, tribe, formal or informal organization, a territory or across territories) and whether through the laws, norms, power or language of an organized society. Way in which a business can or can not conduct business. regulatory Acts, starting in 1887 that! Laws can be imposed by the government reduces or eliminates restrictions on industries, often with the commerce of. 2. in biology, the 1970s proved to be the federal antitrust laws our... 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