Question

What kind of public policy do you think the United States should have with respect to business competition? Develop moral arguments to support your answer (i. e., arguments showing that the kinds or policies you favor will advance the public welfare, or secure certain important rights, or ensure certain forms of justice).

Answer 1

Solution:

Free competition has always been the main concept behind our economy. It is the main reason for innovation and economic growth. However, the main goal of every company is to actually win the competition and become a monopoly. That is where the Government steps in. We also have agencies for consumer protection re: deceptive ad practices, safe products and food.

Less public policy. Let businesses compete to make better, faster, or cheaper products and services for consumers. Public policy distorts business activity and creates problems.

For example, the tax code is so complex, that businesses might make decisions based on the tax code, and not ones in the best interest of their customers, wasting time, energy, and money.

When it comes to business competition the United States should have minimum public policy as public policy often distorts business activity and creates problem. The businesses should be allowed to compete with each other so that they can produce better, faster and cheaper products and services for the customers. The more the competition the better it is. America's current policy supports monopolies and prevents new entries into the market.