The Role of the United States Constitution and the United States Legal System in Business Regulation
This paper will describe the role of the United States Constitution and the United States legal system in business regulation. The recent business regulations in US businesses will be outlined and further explanation on how the economic growth created by private business and how the US government could not sustain itself. This paper will examine an example from an article which demonstrates how a Constitutional right affects a business and how the legal system is used with respect to recognizing or protecting that right.
The US government has regulated businesses since the colonial times. The fight for independence in the United States made the need for more responsive and effective business regulations. In the nineteenth century, the US grew to be a world power and the economy became more industrialized. Business laws were passed by the federal government that favored social reforms and not towards the big businesses. Less regulation for business and the public was introduced in the twentieth century and had expanded until the 1970s. Deregulation on the state of California’s economy and several corporate accounting scandals surfaced in the twenty first century raised federal interventions into business practices. Under the Articles of Confederation, central government was created. These articles lacked certain regulations between the states and did not enforced contractual obligations. Because of these flaws, the US Constitution created the current form of moderate federal system of protection and ended state tariff regulation. Several years later, the federal government guaranteed protection of the due process of law against national currency, security for contracts, and making gifts of land. Enforcing the contracts and property rights are regulated by the government and are the basics that US business could not function without them. The US government could not sustain by itself without the economic growth created by private business.
The US government has regulated businesses since the colonial times. The fight for independence in the United States made the need for more responsive and effective business regulations. In the nineteenth century, the US grew to be a world power and the economy became more industrialized. Business laws were passed by the federal government that favored social reforms and not towards the big businesses. Less regulation for business and the public was introduced in the twentieth century and had expanded until the 1970s. Deregulation on the state of California’s economy and several corporate accounting scandals surfaced in the twenty first century raised federal interventions into business practices. Under the Articles of Confederation, central government was created. These articles lacked certain regulations between the states and did not enforced contractual obligations. Because of these flaws, the US Constitution created the current form of moderate federal system of protection and ended state tariff regulation. Several years later, the federal government guaranteed protection of the due process of law against national currency, security for contracts, and making gifts of land. Enforcing the contracts and property rights are regulated by the government and are the basics that US business could not function without them. The US government could not sustain by itself without the economic growth created by private business.
References: * Government Regulation of Business. Answers. September 7, 2009. Retrieved on September 7, 2009. * http://www.answers.com/topic/government-regulation-of-business * Trampling the Constitutional Role of Regulation. Tenth Amendment Center. September 6, 2009. Retrieved on September 6, 2009 * http://www.tenthamendmentcenter.com/2009/05/09/trampling-the-constitutional-role-of-regulation/ * http://www.4lawschool.com/torts/yuba.shtml * http://www.lawnix.com/cases/stone-bolton.html * http://lawschool.mikeshecket.com/torts/fishervcarrouselmotorhotelinc.html * http://www2.gsu.edu/~rmipzb/torts.htm