Economics- Can Government Regulation Be Constructed To Be More Efficientif So,how – Essay Example
Can government regulation be constructed to be more efficient? If so, how? Government regulation can be built in such a way that the societal stakeholders understand what the government is doing in the first place. They need to discern the fact that the government regulation has come about for the betterment of the general public, which form an essential part of the society in essence. The construction of a sound government regulation is deemed as significant since it outlines the basis of growth and development within the auspices of the society and takes care of the grey areas which have long existed within its tenets. The government regulation dictates the manner in which adequate funding mechanisms will form a part of the very activities.
The manner in which the government regulation comes about is a very pivotal topic and one that gains much significance whilst making regulatory decisions. The government regulation is quintessential as it paves the way for linking a positive rapport between the government and the varied publics within the domains of the society. Thus the manner in which the government regulation is manifested is important towards the overall application of the same within the society’s regimes. (Hedley, 1999) From the business perspective, the element of taking decisions which assist within the industrial domains becomes important as this would mean that the business has to follow the directives as outlined in the government regulation. If the business fails to comply with the same, the state could ask for castigation and/or heavy fines so as to reimburse the same to the stakeholders of the very business.
Hedley, R. Alan. Transnational Corporations and Their Regulation: Issues and Strategies. International Journal of Comparative Sociology, Vol. 40, 1999
Word Count: 267