Theodore \"Teddy\" Roosevelt didn\'t invent the notion that corporations are \"c
ID: 1134317 • Letter: T
Question
Theodore "Teddy" Roosevelt didn't invent the notion that corporations are "creatures of the state" but he certainly popularized it. What he meant was that the corporate form with all of its advantages is created by statutory law, and the government has not only the right but the duty to reign in corporations with regulations for the common good. Although Roosevelt was a Republican, we don't associate calls for tighter regulation of corporations with the Republican party of today.
What do you think? Should the government scrutinize corporate actions more closely to limit the tremendous power corporations wield in our society, or should government try as much as possible to get out of the way so corporations can maximize profits and shareholder value? You may want to do some supplemental research online so you can explain and counter arguments against your position. Be sure to address both sides of the issue. Your response should be between 150 and 300 word
Explanation / Answer
Arguments in favour-
Indeed, the government should scrutinize the corporations more carefully and closely considering the fact that in thr market driven economies, the politics is funded majorly by the big corporations leading to ultimate corruption and creating a vicious cycle. If checked propely, the corporations would realize their corporate amd social responsibility and would not indulge in the government's work and would work for tje betterment of people and the emvironment. When government can create a corporation by law, it can very well regulate and destroy it if needed.
Arguments against-
No, Just like Adam Smith proposed, in a lessaiz faire economy, the government intervention should be the least. The corporations have their own moral standpoint and thus, the market should be the guiding force and not the government.
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