1. Briefly explain how business and government represent a clash of ethical systems (belief systems). With which do you find yourself identifying most? Explain. With which would most business students identify? Explain.
2. Explain why the public is treated as a separate group in the interactions among business, government, and the public. Doesn’t government represent the public’s interests? How should the public’s interests be manifested?
3. What is regulation? Why does government see a need to regulate? Differentiate between economic and social regulation. What social regulations do you think are most important, and why? What social regulations ought to be eliminated? Explain.
4. Outline the major benefits and costs of government regulation. In general, do you think the benefits of government regulation exceed the costs? In what areas, if any, do you think the costs exceed the benefits?
5. What are the trade-offs between privatization and federalization? When would one or the other be more appropriate? What problems might you foresee?