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The Impact of the Global Financial Crisis on Emerging Financial Markets
Finance & Accounting
Pages 6 (1506 words)
Accounting and Finance Literature Review Name Institution Date Introduction The issue of introduction of environmental regulation in the business community has spawned a lot of controversy and debate. Various parties, who are either for the introduction of regulation or, for the government to free the market, have sprung up to give an assortment of reasons why their stance is better suited for the Australian situation.
Regulations create and establish rules that should be observed and respected by individuals, organisations or firms that operate within a particular industry or business. Anyone or any entity that does not act in accordance to the preset rules is in direct contravention of the law and is thus subject to punishment by law. The punishment to be handed down can either be in terms of fines, imprisonment or repossession of the respective business. However, in the free market, the allocation of market resources is solely on the foundation of supply and demand forces, this happens in the absolute absence of any form of government intervention. The question now becomes whether free market approach or pro-regulation approach is the best avenue to take in the Australian economy. When it is all said and done, regulation is the appropriate approach to take. This paper will endeavour to illustrate, with logical backing, why this approach is the most suitable one in the Australian perspective. This paper will evaluate twelve articles, which are either for or against, the introduction of legislation to the Australian environment. ...
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