Business and labor are often at odds with each other. Each has a stake in getting the government to regulate the other. In what ways has government regulated business and labor?
What will be an ideal response?
the attempts to control monopolies through antitrust policies, such as the Interstate Commerce Act, the Sherman Antitrust Act, and the Clayton Act. They could mention the government cases against AT&T and Microsoft as well. Regarding labor, students could focus on some of the early labor laws, such as the Fair Labor Standards Act, but should focus most of their answer on the Taft-Hartley Act and recent attempts by government to restrict labor’s collective bargaining power (e.g., President Bush’s limiting the collective bargaining power of Homeland Security Department employees).
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Indicate whether this statement is true or false.
State capitalism in China or Russia means that __________
a. the government has allowed unfettered capitalism for all of its people b. capitalist practices occur despite the fact that they are mostly illegal c. the state plays no role in economic affairs d. the government is essentially the number-one capitalist