The current political rhetoric in the United States (and other countries, to a lesser extent) is all about government regulations vs. the free market. Republican candidates have been spending much time making promises about budget cuts, removal of regulations, and untying the hands of “job creators.” Government regulation is said to be “inefficient” and an impedance to the progress of the country. The rhetoric here in Canada over the past few years has been similar, focusing on “stimulating the economy” and creating jobs.
Amongst all this language about business and economies, it is important to clarify the goals or end-state that one wishes for society to achieve. Certainly, people have different ideas about what society should be like, but in general I think it is fairly uncontroversial to state that society should benefit the people within it. I would submit that a good goal for society to have is to be just and equitable, and to work toward the well-being of its citizens. It is only after we set this goal that we can start to clarify whether government regulations and policies are truly a good thing. Do they achieve this goal?Continue Reading