Implications for International Business of Religion Differences - Essay Example

How might widespread public ownership of the business and extensive government regulations impact the efficiency of business?

Discussion
Widespread public ownership and extensive government intervention somewhat present a mixed bag for businesses. This perception is fundamental because in as much as a section of business administrators have over time reaffirmed that implementing some of the policies put forward by the government such as antitrust laws is a waste of both time and resources, government input has come in handy in some situations. This includes providing the businesses with information that can give them an edge over their competitors and financial loans during harsh economic conditions. Similarly, it is believed that government interventions always safeguard consumers and ensure that businesses protect the environment, hence ensuring that the businesses are in good books with the market.

Question Three
A democratic political system is an essential condition for sustained economic progress.

Discussion
The relationship between democracy and economic growth has often brought up conflicting ideas, for some economic analysts hold the perception that in some instances autocratic leadership can act as a basis for growth, as was the case during the tenure of Lee Kwan Yew of Singapore (www.wsj.com). Nonetheless, it is important to note that a democratic political system is essential for sustained economic progress. This is because democracy, when properly practiced naturally leads to a prosperous and stable economy. This is because most of the rich nations that have sustained rapid economic growth over time are stable democracies, while most of the poor countries are either brutal dictatorships or dysfunctional democracies. Read More