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What are the advantages and disadvantages of government regulation?
Wiki User
∙ 13y ago
ADVANTAGES:
*less risk when a company collapses. (FICA)
*you get paid more(which means prices go UP to maintain those costs of employment; minimum wage laws)
*Big Corporations are held at bay from abusing the people.
*Less need for Unions to form to protect people from corporate abuse.
Disadvantages:
*Regulations drive up production costs because manpower+time spent=production costs; making your money worth less.
*Business, jobs and many corporations move to places like china where a 5 year old can make a sneaker for less than a few cents an hour.
*with the rise of minimum wage so to do product costs, and as such 2 things can happen employer fires people to keep prices down, or prices must go up to pay the employees.
It's a Double-edged sword, but if you want a repeat of the 1900s west Virgina Union wars, then good luck to you.
have you never wondered why everything is so expensive when it is made in America?
Wiki User
∙ 13y ago
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