Businesses run the economy regardless of whether it’s market or mixed, but how the government regulates and interferes with them can change the kind of economy and how well it does. To what extent should the government be involved with businesses and how should they regulate them? Whether the government gets involved or not, it will have its positives and negatives effects on all elements economy. I believe that governments should regulate businesses to the extent of whether there is a problem that affects consumers economic decisions and the work force, like high prices, union, and monopolies. Can government interference help resolve the problems within the economy without completely take over certain business?
With the involvement of the government, regulating businesses the government can step in when there are major issues involving the economy. …show more content…
Unions in Canada are regulated by federal and provincial legislation and must be registered under the government, this is the government protecting the workforce and allowing them to communicate with the business that workers work for. Unions can be a blessing to workers, but when unions go to far it can put workers out of work, if they demand too many things from the business, such as higher wages, and eventual the employer will not be able to support it workers, and again with find away to pay worker less money to create the product or service much like when a business loses profit. An example of this this is when General Motors (GM) planned to close 11 plants that manufactured car in Flint, Michigan and move them to Mexico. GM alone with its CEO, Roger Smith could pay the workers in Mexico 70 cent/hr which is much lower than he had to pay the GM workers in Flint at the time. This increased GM's profits but put over 70,000 workers out of work. The government, along with its union, the Union of Autoworkers (UAW) did nothing to help the former GM workers in this time of
With the involvement of the government, regulating businesses the government can step in when there are major issues involving the economy. …show more content…
Unions in Canada are regulated by federal and provincial legislation and must be registered under the government, this is the government protecting the workforce and allowing them to communicate with the business that workers work for. Unions can be a blessing to workers, but when unions go to far it can put workers out of work, if they demand too many things from the business, such as higher wages, and eventual the employer will not be able to support it workers, and again with find away to pay worker less money to create the product or service much like when a business loses profit. An example of this this is when General Motors (GM) planned to close 11 plants that manufactured car in Flint, Michigan and move them to Mexico. GM alone with its CEO, Roger Smith could pay the workers in Mexico 70 cent/hr which is much lower than he had to pay the GM workers in Flint at the time. This increased GM's profits but put over 70,000 workers out of work. The government, along with its union, the Union of Autoworkers (UAW) did nothing to help the former GM workers in this time of