The current level of government regulation of business is detrimental Essay

The current level of government regulation of dividing line is detrimental to our economy(the first paper you wrote that was unusable) - Essay ExampleLiberalization, deregulation, and privatization are a large part of the vex for a neo-liberal economic agenda by its proponents to get official authorities to create an enabling purlieu for markets and then let the private sector supply the social good with (according to the theory) maximum efficiency (Scholte 2000, p.285). Krugman (1995) states in spite of possible and actual negative outcomes, governments have been eager to adopt the programs outlined by the leaders of the Washington consensus at the same time markets have been busy dumping money into reforming economies for two master(prenominal) reasons. The first is the speculative bubble in the financial markets. The second has more to do with sociological alternatively than economic perceptions in that the seemingly endless number of meetings, negotiations, and press release s concerning financial and related markets converged into a commonsense understanding of economic opinion. In addition, governments adopted the prescribed programs because markets were rewarding those who adopted and embraced these programs. According to Krugman (1995, np), people believe certain(prenominal) stories because everyone important tells them, and people tell those stories because everyone important believes them. Indeed, when a conventional wisdom is at its fullest strength, ones agreement with that conventional wisdom becomes almost a litmus test of ones suitableness to be taken seriously. It became difficult to question or stand against, and easier to support this common wisdom, thus nurture reinforcing it. Hence, the Washington consensus has been embraced even if its program results have had devastating effects on many countries and eventually on the United States in the year 2008.In 2008, the collapse of key American financial organizations sent the global finan cial system into free fall as credit began to freeze and trillions of dollars in shareholder judge were wiped out.