Business, Government, and Law

Abstract

The importance of the role of government in business has been debated throughout the global media. The United States’ government pumped in billions of dollars to bail out some of the biggest private corporations. The role played by the US. government is very different from the usual role played by the government in any text-book capi- talist economy, where mismanaged firms are allowed to fail. The study examines the role of government in business and how it meshes with the judicial functioning in general and a democracy in particular. It also discusses in detail, how businesses use law to achieve the competitive advantage.