Laws

The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective?

Introductory page:

Just like every other country which government that is capitalist, there are laws that prevent business owners from doing international trade that is illegal and unethical. The United States has laws that protect the consumer and businesses as well. Laws are on the whole effective if not perfect, since they can’t completely protect the consumer or prevent all bad practices/unethical behavior.

After the 2008 recession hit the country many companies were discovered of fraudulent acts. Johnson and Johnson the company that acted upon the negative impact the media was portraying in regards cyanide-laced pills that were placed inside their containers, an incident caused by an unknown person or group of persons. To solve this problem and protect the consumer they withdrew all of their Tylenol products from every pharmacy and every store that sold the pills, and developed a new pill. Even though this incident cost the company a lot of money, they made a lawful and ethical move.

Competition is important in countries overrun by capitalism because it promotes fair business practices. For example when T-Mobile introduced Jump! This year, a new guy to get a new phone without having to wait two years, AT&T and Verizon, the two leading telecommunications companies in the US, along with Sprint, started developing new programs similar to keep up with the competition-- first AT&T with Next, then Sprint with One up and then Verizon with Edge.

There is an act that was passed in the late 19th century to avoid larger companies from overrunning the market and then selling a product for a higher price, this is the Sherman act. Then there is also the Clayton Act which prohibits exclusive dealing, tying of contracts and interlocking directorates. There is the Federal Trade Commission Act of...