Economic interest groups safeguard some sort economic merit for their members and are the most common kind of special interest groups. In capitalist societies like America, money occupies a central position, and thus economic groups are many and very influential. Economic groups are well financed as members are willing to part with money with the hope of garnering greater political benefit. Economic groups operate to attain private goods where only members of the group will enjoy (Paddock, 2005).
Business groups seek to influence the government on policies regarding the economy and business. For instance, the National Manufacturers Association operates to limit the government regulation in the manufacturing industry in America (Miller, nd).
A labor group represents unions that operate to enhance the wages and promote favorable working conditions for skilled, semi-skilled and unskilled employees. AFL-CIO is one of the biggest labor groups in America.
An agricultural group represents the interests of farmers and farm businesses. The National Farmers’ Union is the interest group that represents small-scale farmers while American Farm Bureau Federation represents the interests of large-scale farmers.
These are official groups that formulate ground rules for a certain profession, monitor practices, and foster standards of conduct. For instance, American Psychological Association safeguards regulate and foster the rights of psychologists.
This group plays an enormous task in governing drugs prescription, influencing drug authorization, as well as monitoring the price and disbursement of pharmaceuticals. An example of Interest groups and prescription drugs is the Food and Drug Administration.