The Evolution of the Commerce Clause Business regulation is one of the most debated features of modern politics. Regulation is commonly known to effect business ability to be competitive in both internal and external markets. The federal government’s ability to regulate business has grown out of the judicial branches’ constant manipulation of the contextual meaning of various elements of the Constitution. The progressive manipulation is a non-debatable fact, but the overall benefits, or consequences is a hotbed for argument. Progressives carrying the belief the importance of a living constitution are pinned up against Originalist who quest to preserve the original founding fathers intentions behind the text of the constitution.
The sole proprietor has the advantage of maintaining complete control over his or her business. Disadvantages: One of the greatest disadvantages to a sole proprietorship is the lack of cash flow or access to capital like loans or investors. They do not have the advantage of getting access to capital through bonds or shares and credit is based on their personal credit history. The lack of capital keeps purchase power restricted in comparison to corporations. Liabilities can be very heavy for sole proprietors depending on the nature of the business.
A monopoly is where you can set prices almost everywhere you want, and there is no other competition. This is referred to as predatory pricing, where companies charge a price lower than production costs. These companies believe their competitors can’t afford the loses. Cable companies don’t worry about competition due to the protection they enjoy from the government. The cable companies get away with this by claiming they do not have competition, cities award them the contract by providing coverage, even though they may not have the lowest price.
| LIT 1 Task 310.1.2-01-06| By: Bryan Luttman| | 12/01/2012| LIT 1 Task 1 Part A Sole Proprietorship - It is a business that identifies itself with the owners name or a fictitious name. It also names the owner responsible for its debts. A sole proprietorship is not a legal entity and is the simplest form of under which a business can operate. The sole proprietorship is the easiest and most popular form of business for small business owners. The owner does not need to register his or her name and get a local license in order to do business, unless it is under a fictitious name.
LIT1 Task 1 SOLE PROPRIETORSHIP: As the first word in the name suggests there is no distinction between the owner and the business, legally they are viewed as one entity. When it comes to starting a business this option is a perfect one because there is little to no start-up cost and autonomy since it is now your sole responsibility. The main disadvantage to this type of business is that financially the owner may find it hard to start up because any money that I loaned is a personal loan. • LIABILITY – The owner (proprietor) is liable for all debts and profits the business is and vice versa. The business and the owner are one entity so when the business owes on a debt the owner’s personal assets are liable to be taken as payment
While at a glance each of these programs may seem harmless, Dr. Spencer illustrates why he believes America’s economy is declining because of the current system. Dr. Spencer states,” The most useful role of government in the economy is to make sure people –especially companies and businesses-play by the rules.” Anti-trust laws for example provide rules that prevent monopolies in the market. Many of the programs the government enacts stall the natural effects of supply and demand that drive a free market and are in fact monopolies. As is
Many intellectuals during the Enlightenment explored new ideas in political economy; Adam Smith in his 1776 An Inquiry into the Nature and Causes of the Wealth of Nations was one of the most influential figures for the Americans. Smith admitted the mercantile system worked, yet criticized its principles. Expounding a doctrine of individualism, Smith was one of many voices stating that the economy, like the individual, should be free from detailed regulation from the state. Economic, as well as individual, self-interest and its outcome in the market should be allowed to function without state regulation. Although it was indeed approved by the First Continental Congress, the practice of mercantilism was replaced with a Smith-oriented form of liberalism in post-Revolutionary
There may be other similar businesses, but in the case of a monopoly, there is only one business or individual that can provide a specific product or service. An oligopoly is where the product or the service may be available from more than one vendor, but only a few big merchants are in control of the market. This makes it hard for new competition to try to enter the field. Industrial regulations suppress monopolies and oligopolies from price fixing. The regulations make competition a necessity which in turn keeps the prices to consumers more affordable and competitive.
While it is common to treat the new technology as a radical innovation, here we would talk about the radical innovation both in technical and economic sense. It means that the technology should not only be absolutely new, but also account for the former solution become noncompetitive. It is considered that the incumbent firms fail to implement the radical innovations and due to this lose in the competition to the new entrants. In fact history proves that before the World War II this was the case for the majority of the firms with only 22% of the radical innovations implemented by the existing market leaders. There are different approaches to explain this phenomenon, as originally it was seen that the incumbent firms had much more resources and capabilities to succeed in innovation (Schumpeter 1934).
Prostitution is not regulated in any way (no licensing) but prostitutes can contribute can contribute to the official government pension fund and receive benefits when they retire. New Zealand The Prostitution Reform Act 2003 made ALL adult prostitution and brothels a legal occupation in New Zealand but may have too many restrictions on brothels. In fact the government has online their "Brothel Operator Certificates." There are reasonable healths and safety requirements such as using condoms, local bylaws can restrict signage and brothel locations, and a provision to outlaw pimping. The Accident Compensation