relative advantages and disadvantages of alternative policies to address negative externalities ... one tradition in the literature suggests that the environmental problem could be resolved if the government simply ensured that property rights in the environment existed. However, a maximum price may reduce the supply of housing leading to homelessness. While some level of taxation is necessary to fund government operations, excessive taxation can have negative consequences. 1.

Washington, DC 20006

Howard Beales

44 http://democracyjournal.org/magazine/31/capitalism-redefined/, supra note 40. Government regulations also correct inequalities and promote positive liberty, or the opportunity to fill one’s own potential; initiatives, such as Affirmative Action, provide opportunities in education and employment. When regulation … The United States Constitution delegates the police power to the states, allowing them to issue regulations to protect public health, safety, and welfare. The advantages of federal government:The laws are passed in one sovereignty.The disadvantages:Too many rules will be passed making the people disappointed will be the cause of too much propaganda! Bonus articles: Pollution as a negative externality The benefits and costs of US environmental laws Read about specific examples of environmental laws in the United States. Examples of laws and regulation. Exploitation of labour. Government regulations can protect consumers and help businesses thrive at the same time, but they can also reduce efficiency and limit innovation. Disadvantages: There are some thinkers who maintain that private property creates evils. The preamble of the United States Constitution allows laws to be enacted for the general welfare, but the 14 th amendment prevents states from depriving people of property or interfering with its use, without due process of law. Tax or direct cost is often the result of government regulation … Few government regulations Sole proprietorships adhere to a few regulatory requirements Securities and Exchange Commission (SEC) The US Securities and Exchange Commission, or SEC, is an independent agency of the US federal government that is responsible for implementing federal securities laws and proposing securities rules. Taxation is a controversial economic and political issue, so people are likely to disagree about the advantages and disadvantages of taxes depending on their personal opinions. The jurisdiction may regulate where the use is placed, how far back from property lines and design features such as height or architecture, but it cannot refuse the right of a property owner to use the land in accordance with the zone's regulations. The ways it can do this are innumerable, but some of them are strict safety and health regulations, tariffs, and subsidies and government loans (Ringer, 149-151). The disadvantages that are generally attributed to it are discussed as under. In this case, a maximum price can make renting cheaper without reducing supply; More on maximum prices. Greed for Property: Private property makes man greedy. The government not only intervenes in the agricultural sector of the economy, it also intervenes in the business sector. Regulations can limit or prevent: Demerit goods (alcohol, drugs, smoking) Goods with negative externalities (burning of coal) Abuse of monopoly power. Property is considered necessary for a better social awareness and individual developments. However, if landlords have monopoly power and supply is very inelastic. Politicians always try to make everyone “happy.” To overcome market failure, the government may place laws and regulations which prohibit certain behaviour and actions. The government may set a maximum price for renting to keep housing affordable. Sometimes zones list uses that can be approved with the discretion of the local government.

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