How does the law promote free enterprise and capitalism? How does the law hamper free enterprise and capitalism?
I need this response in 200-300 words.© BrainMass Inc. brainmass.com June 3, 2020, 11:16 pm ad1c9bdddf
I think that just about all laws are geared at promoting capitalism. I would not say that the law hampers capitalism, but rather that it regulates it. Thereby allowing businesses to compete fairly and protecting the customer from a business's greed in the process.
In a capitalist system, assets are privately owned and can be sold at the will of the owner and businesses are rewarded with sometimes very lucrative profits. Capitalistic and free market encourages competition by ...
The law determines how far free enterprise and capitalism goes. It can encourage, regulate, or hamper it.