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Economic--Government Regulation - Research Paper Example

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Regulation refers to legal frameworks put in place to restrict, control and or prevent certain effects, which may include but not limited to behaviour, action, authority and right. governments especially the legislative and the executive branches of the government have been…
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Economic--Government Regulation
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Download file to see previous pages Regulation of a country’s affairs by the government is not a contemporary issue as it is considered an event that began several decades ago as most governments engaged in attempts to advance their interest. In other words, regulations have been used to protect key interests of the civilians and those of the government of the day. Government regulations touch on a number of issues key among them being political, economic and social.
As time passes by regulations, tend to develop at numerous government levels as commissions gain greater powers with respect to operation of regulations. In other words, the government departments and agencies are becoming heavily involved in design and final implementation of the regulations. It is noteworthy that government agencies constituted by either the executive or the legislative branches are highly responsible for actual implementation of various regulations issued by the government department in charge. For instance, in the United States, the Food and Drug Association (FDA) and Environment Protection Agency (EPA) are responsible promoting laws that ensure safe food and drug products are in the market while as well as laws that cut down on pollution effect in the country respectively.
Government agencies have become powerful institutions over the recent past owing to the delegate roles they have been extended to by the government. For instance, the legislative arm of the government may formulate or enact laws and establish guiding principles and the agencies are left to make follow-ups and final implementation. The operations of these agencies are highly influenced by their independence and as such, there are certain agencies that free from the control of the executive and other department of the government. The government departments as well as agencies do not often work in isolation considering the fact that members from the private sector are normally included in the board. The private sector ...Download file to see next pagesRead More
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