Ethics and Law in Business and Society (4 questions) Essay - 1

Ethics and Law in Business and Society (4 questions) - Essay Example Such a situation would not have occurred of the government would not have intervened. The definition of the government failure is much suitable for the study as it is also concerned with the public policy. The government policies are usually concerned with the public policies that have a direct impact on the market (Anthoff, 2010). External negativities like the taxes which is a government policy is usually responsible for the market failures. The advantage of the government regulation as an intervention includes easing the pressure on the market. However the main con of a government regulation as an intervention is the economic crowding which may result to the worsening of the situation and hence causing an imperfect market. The public goods on the other hand are goods that cannot be affected when it is used by the individuals. An example of a public good is the fresh air. It is subjected to the theory of market failure since its excessive use may lead to negative externalities like pollution and hence contributing to market failures. It also contributes to government regulations which may have considerable effects on the market and hence leading to market failure. 2. Public policy The policy foundation is a think tank that is used for the purposes of challenging the extreme and harmful policies that have been put in place by the government in terms of the compensation of the federal employees. The main goal of the policy is to ensure that the federal employees who are unable to physically or mentally fulfill their responsibilities are adequately compensated. Several political huddles were witnessed during the passing of the bill into law. The main huddle was the policy issues among the law makers for the purposes of ensuring that the federal employees benefit. The misunderstanding among the law makers contributed to the delays in terms of passing the bill. The major benefit is that the federal employees who are affected at the workplace receive compensation w hen they are affected and are unable to work. However it is costly due to the funds that are involved during the compensation. The law requires the funds that have been set aside by the federal government in order for it to be efficient (LaDou, 2010). The policy is neither liberal nor conservative. This is because it has been receiving support from both sides of the political divide. This is because the policy affects all the federal workers incase of injury. On the other hand, the policy has always been enhanced by both the liberal and conservative governments and hence and indication of the neutrality of the policy. The politicians have also been in support of the policy and hence its popularity and success. 3. Philosophy of the state According to Locke, the political obligations as well as the laws are not natural but are instead human creation and are for the benefits of the individuals involved. He further argues that the civil rights are gained through respecting the rights of others and giving up some freedom. According to Hobbes, the lack of political laws and order would result to unlimited freedom. The security and sovereignty are achieved through the social contract when a political community is established (Levitt, 2013). There is also evident that the leviathan is reaching into the American policy domain through the concepts of liberty and sovereignty. The federalist papers promoted the ratification of the constitution through influencing the votes in favor of ratification. It