Which Governments Are Fostering Innovation via Regulation?

Why do we need regulation?

Despite the obstacles that businesses might appear to face because of regulation, they serve an important goal - to ensure positive outcomes for society in the long-term. Without regulations, modern businesses wouldn’t be able to exist as the resulting chaotic environment would destroy them. Regulations across industries could be even more complicated and could significantly delay the implementation of innovative solutions, but in the end they exist to ensure tat each party is better off.

Regulations serve the purpose of balancing the business environment, to balance the power distribution and create legitimate opportunities. An unregulated labor market may cause negative outcomes for nations and economic growth. Regulations applied to employment protect both employers and employees. Moreover, regulations actually have a positive impact on the lending business, protecting financial institutions and lenders from ...

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