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Regulatory schemes in businesses

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If one owned a business, would it need regulation? Why or why not?

What are current laws or regulatory schemes that deem to be unethical? If so, please describe the law or regulation scheme and why it lacks proper ethical foundation.

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Solution Summary

This solution explains if regulation is necessary for business owners, and also discusses the current regulatory schemes that are unethical. A thorough discussion is provided.

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If one owned a business, would it need regulation? Why or why not?

Businesses definitely need regulation and the type and extent of regulation is heavily dependent on the type of industry. All businesses have to comply with tax regulations and licensing regulations. The type of regulation is then specific based on the type of company. For example, a publicly traded company that manufactures auto parts needs to comply with the regulations set forth by the Securities Exchange Commission (SEC), as well as regulations that govern the manufacturing industry. A private business owner that sells insurance doesn't need to comply with SEC regulations, but the business does need to comply with federal, state, ...

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