Since Gov't imposes regulations on businesses for such things as safety regulations for workers, pollution controls on the amt of emissions, and requirements on access for workers with disabilities how might you answer the following questions?
1.How might these regulations be thought of as being a negative technological change (techn deterioration rather than techn improvement)?
2.What effect would these regulations have?
3.With Q2, is it still possible for such regulations to be efficient from the point of view of society and why might this be true?
Please find the attached solution. Hope this helps you.
1) When the govt imposes the regulatory measures such as safety regulations for workers, pollution control measures , safety measures for disabled workers will certainly have adverse impact on the business firms regarding technical improvements.
Safety regulations for workers such as fixing minimum wages, providing basic amenities & safety measures in the workplace , basic first aid facilities & compensations , the laws protecting the dismissal of workers etc would increase the cost of production and as a result the firms will not have any inducements regarding technological improvements .
Pollution control measures such as installation of abatement equipment to control the harmful emission from industries , hiring engineers etc will directly affect ...
The social security measures for the workers & the environmental protective measures taken by the government are evaluated.