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ETHICAL CHALLENGE TO THE MARKET SYSTEM

Paper instructions:

Answer the following 5 essay questions in 120 words or less. No more than one paragraph.
Sometimes we need government oversight to determine whether the parties tried to manipulate the price to reduce a tax burden or gain some other favorable treatment. This presents an ethical challenge to the market system. How do you prevent parties from manipulating prices in the market? Is it unethical for the government to intervene and prevent parties from manipulating prices to reduce taxes or other liabilities?
Government control, as Brandie mentions, is the major difference between the market and command systems. Even though in the market system doesn’t entail as much government involvement as the command system, it does entail some government involvement. In fact, government involvement in the market system is a necessity. Obviously, though the US uses the market system, it still exercises government control over that system to ensure its stability. (McConnell, 2005).
What are some ways in which the US Government exercises greater control to ensure the stability of the market system? Is it ethical for the US Government to exhort such control over the system? Why or why not?
Can market efficiency evolve on its own without government intervention? Why or why not? What role do ethics play in market efficiency?
So, what factors should a government body consider when trying to balance over-regulation with not doing enough? Are there methods that the government can use to figure this out other than just talking to stakeholders? What concepts from our reading might help?
There really is a balancing act that the government must perform in enacting law in this area. You want the regulations to be strict enough that companies fear the consequences. However, you don’t want the regulations to be too strict. One reason might be that you still want business to stay afloat. An extremely severe penalty could put someone out of business, when you really only want the penalty to change undesirable behavior. Can any of you think of another example when a penalty might be too severe?

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