Questions related to Government Regulation
A. Global semiconductor chip shortage
B. Government regulation of internal combustion engine powered vehicles
C. Disruption from digital start-ups
D. Trade tensions between USA & China
E. Lasting economic impact left from Covid-19
F. Other (please comment)
I am collecting research for an Engineering Management (MSc) dissertation.
Any responses are greatly appreciated.
Smith's idea of the “invisible hand” is the basis of the belief that large-scale government intervention and regulation of the economy is neither needed nor helpful. Smith put forward the notion of the invisible hand to argue that free individuals acting in a free economy, and making decisions that are primarily intended for their own self-interest, will, in fact, take actions that benefit society as a whole, even though such beneficial results were not the specific focus or purpose of those actions.
The central idea is that by means of the “invisible hand” purely self-interested actions and exchanges produce a large, unintended public good.
Quotations, Adam Smith,
The Wealth Of Nations, Book IV, Chapter V, Digression on the Corn Trade, p. 540, para. b 43.
…THE INVISIBLE HAND…
[rich people] consume little more than the poor, and in spite of their natural selfishness and rapacity…they divide with the poor the produce of all their improvements. They are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, and thus without intending it, without knowing it, advance the interest of the society, and afford means to the multiplication of the species.
The Theory of Moral Sentiments, Part IV, Chapter I, pp.184-5, para. 10.
Every individual... neither intends to promote the public interest, nor knows how much he is promoting it... he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. ---End quotations
Smith goes on to argue that intentional intervention by government regulation, although intended to protect the common good or benefit society as a whole, in practice is usually less effective and beneficial than is a freely operating market. In many cases, it is actually harmful to the people in general, because it denies them the benefits of the free market. This is especially true if the intervention produces a sort of political feeding frenzy of political favor to special interests.
The general prosperity and economic growth resulting from expanded international trade is part of the evidence for Smith thesis. However, though it is plausible to believe that something like Smith's “invisible hand” provides for the public good by way of growing prosperity in the initial stages of economic growth, it is considerably less plausible that liberalization and expanding markets or expansion of international trade will always produce a public good commensurate with the harm they cause.
This is not a purely economic argument. Instead it suggests a political evaluation. Economic expansions are also known to produce considerable economic dislocations, people go unemployed and entire industries wander away; not all participants benefit equally.
More basically, by shifting and creating wealth both within and between political societies, extensive economic expansions also cause political dislocations that require political adjustments.
The basic problem is that the shifts in economic interests brought about by rapid and extensive economic expansions proceed much more quickly than the slow and laborious, deliberative and political processes required for making needed adjustments and introducing regulations as may be required --to meliorate untoward effects.
In consequence, political societies tend to be thrown into deep political problems and conflicts tending toward factional infighting, in the attempt to control the political process in the interest of various, older or newly established economic interests. The continued pursuit of self-interest then produces something like “crony capitalism” (an age of the “robber-barons”) and social-political strife; and, at the worst, the result is uncontrolled conflict both within and between organized political societies.
While there are many sophisticated plagiarism detection programs worldwide to protect the integrity of research, "Balloon Professors" are very difficult to detect. They produce high-quality papers, they might serve as members of editorial boards of quality journals, they might have impressive track records BUT THEY HAVE CONTRIBUTED ABSOLUTELY NOTHING. They survive on their students' work... How can the research community filter Balloon Professors?
I am currently investigating the effect of government regulations on Airbnb's key performance indicators (supply, demand, ADR and market share). Therefore I analyze three aspects:
1) three months before and three months after regulations;
2) comparison with the same period a year earlier; and,
3) change in type of supply (as most regulations relate to entire homes).
Now, I doubt if I am required to use statistical evidence (SPSS outcomes) to come to my conclusions or if tables/obervations in data are sufficient to come to a conclusion. Also, I am not sure which test is the most appropriate.
I thank you for any comment or advice.
With permission of the tribes, would it be advised for the federal government to regulate Indian education-- perhaps by aiding in supplies, teachers, or help improving the curriculum. Each change will be first with permission from the native americans.
when am determining the role of government regulations in a certain supply chain management
what parameters sholud i look at?
I am focusing on the Textile, Apparel, and Footwear industries but looking for studies into the impact and costs government has had via legislation and regulation on the competitiveness, effectiveness, and globalization of any industry
Someone mentioned to me that Uruguay has land use legislation that takes into account the capability of soils to render certain services. Apparently, this legislation places restrictions on what can be done with prime agricultural land, for example. At the core of this legislation is a very innovative, older piece of legislation that links property taxes to the potential of soils, not to their use.
I am wondering if similar land use legislations exist in other countries. I have heard that Denmark has something along the same lines. Are these the only two countries that have done something in this area?
It would be nice to document such legislations in detail, to encourage other countries to follow suit... So if you have documents that relate to soil-protective legislations in other countries, feel free to send them to me . Thanks!!!
One of the factors that have relevant influence on manufacturing companies competitiveness is the compliance with government regulations. The issue is to find out figures dealing with. I am exploring this issue on advanced composite manufactures allocated into industrialized countries trying to carry out proper compilations among them.
I need suitable examples to contrast top down management with system approach framework applied through government regulation on environment.
As a progressive move, the Malaysian government has made the implementation of Outcome Based Education (OBE) compulsory in the country’s Higher Education Institutions thus requiring a major shift in the teaching paradigm.
For economic agents seeking extraterritorial profit the main goal is not the economic development of their country. To achieve their goals corporations hire guest workers and seek locations, which offer cheaper labor, land, etc. (e.g. in China and other Asian countries). The result - the population of developed countries loses professional qualifications and switch to activities not related to the production of vital commodities.
Emerging research indicates that exposure to many different materials in our food supply and our environment can impact nutritional status and weight gain. Given the high costs associated with obesity, and the relationship between individual choice and wellness, should the government 'regulate' our consumption to reduce obesity by limiting exposure to a high fat, high sugar diet that includes known obesogens?