Comments on Raza’s Blog Post: Business Laws- A Fair Deal?

Although unregulated businesses are seen to be more successful to prosper, the laissez-faire economy can lead to business ethical issues. From class3, Milton Friedman stated that business managers should not break the law or commit fraud. Thus, without business laws, companies are more likely to ignore business ethics by exploiting workers. The people and planet from the triple bottom line may be ignored, as profit maximization will be the main focus of the business. For instance, in the 1920’s, the American economy suffered from the Great Depression with the laissez-faire policy in place.

As Raza mentioned, abating or eliminating certain laws can pressure smaller businesses much more than large corporations. Large corporations will be ableto reduce their costs more easily compared to smaller businesses, allowing the corporation to increase profit. It is highly likely that an oligopoly will be formed, strangling the small businesses. It is true that too many regulations can restrict companies to increase their profits. However, it is essential to realize that regulations and laws can protect not only the workers and consumers, but also the suppliers. Therefore, with reasonable amount of government regulations, the economy may be able to prosper, while operating with CSR perspective.

Work Cited

Razi, Raza. “Raza Razi’s Blog.” Raza Razis Blog. UBC Blogs, 30 Sept. 2014. Web. 02 Nov. 2014. <https://blogs.ubc.ca/razarazi/2014/09/30/business-laws-a-fair-deal/>.

Bouw, Brenda. “New Anti-spam Law ‘a Big Deal’ for Small Businesses.”The Globe and Mail. N.p., 24 Mar. 2014. Web. 02 Nov. 2014. <http://www.theglobeandmail.com/report-on-business/small-business/sb-digital/biz-categories-technology/businesses-rush-to-comply-with-tough-new-anti-spam-law/article17609044/>.