The Legal System

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Discussion Question 2
The legal system in any country is crucial for sustainable development of economy. In U.S. the legal order has a direct relationship in the way of doing business. U.S. Companies have to operate with different types of legislation such as antitrust or environmental. To take the example of antitrust law, the conduct of some businessmen, such as the formation of cartels to fix prices, or manipulating the stock market through insider trading is prohibited by law. Similarly, any national company or foreigners who want to invest in the United States must consider the environmental impact that can have its production and trade. The laws of the United States seek to protect business and consumers in a free market capitalist economy. This legislation ensures that companies can market its products in an economic environment where supply and demand define market behavior. This situation benefits consumers because they will be able to buy quality products at competitive prices. However, many companies think that these laws restrict the freedom of business to operate, although they are intended to prevent abuses of dominant position and ensure legal certainty. The U.S. economy is supported on its legal legislation. This legal system ensures that there are clear rules in a highly competitive market. The absence of this legal system could generate monopolistic enterprises affecting the consumer.

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