Wednesday, February 6, 2019
Legislative Influence on the Economy :: essays research papers
Legislative Influence on the Economy Throughout history, in that respect have been instances of the governance affecting the economy, be it with the B.U.S. or with the honorable lying-in Standards Act, the government has played an important role in our economy. The government rescue the United States from the Great Depression by increasing demand and labored taxes. During the 80s, the United States was forced into a recession that threatened to extirpate the economy. Both instances were due to handling of the government to the economy. Most of the government intervention is done by subsidy, which is a form of economic aid to function a private enterprise, but a good deal is overly done by legislation. There are many areas in which the government influences the economy by legislation. One area influenced by legislation is argumentation. Calvin Coolidge said, The business of America is business. The government has seen to it that it is fair with this. During the late 1800s and early 1900s, several(prenominal) bills focusing on breaking up the deposits were passed with unanimity. It began with the Sherman Anti-Trust Act. This Act outlawed and simmpleness on trade or competition, and caused the breakup of the Standard Oil trust into twenty different companies. Another area where legislation has been used to ease control the economy was in trade. With the breaking up of elephantine trusts and monopolies with the Sherman Anti-Trust Act, A group had to be able to enforce the new laws, and so in 1914, the Federal Trade Commission Act was passed, months before the Clayton Anti-Trust Act was passed to fulfill in the gaps left by the Sherman Anti-Trust Act. With all of these new companies sprouting up, an enlarge in the number of jobs occurred, but it is no surprise that workers were not being paid fair wages, and so in the area of labor, the government passed the Fair Labor Standards Act. This act created the way by which everybody works today. A min imum wage, 40- hour work week, and control of child labor. This legislation itself was invoked by large labor unions such as the American Federation of Labor (AFL) and the carnal knowledge of Industrial Organizations (CIO), both of which sought to improve working conditions and wages through negotiations with employers. One overdue act was the Meat Inspection Act, largely influenced by Upton Sinclairs The Jungle. The act was passed in 1960, long overdue considering the circumstances.