In the wake of worldwide economic turmoil and efforts toward recovery, understanding the interdependence of government and business is more important than ever. In this thoroughly updated edition, Lehne takes a comparative approach, evaluating the U.S. political economy with respect to those of Great Britain, Germany, Japan, and the EU. The book provides detailed historical context for, and a conceptual understanding of, the business-government environment, and then clarifies the roles of the major actors and outlines the regulatory and policy frameworks. Along the way, Lehne probes some of the most crucial dilemmas facing government and business today. Updates to this edition include: • expanded coverage of ethics as it relates to government and business; • greater attention to China in particular in the feature boxes on developing nations; and • a look at relations between government and business at the subnational level. A comprehensive glossary and chapter summaries enhance student learning.

Origins of Government and Business

Origins of government and business

Government has been an influential factor in the American economy in every period of the nation's history. From the beginning the United States has had natural resources that other major nations lacked, a deep-rooted entrepreneurial tradition, and a large domestic market. These have given it an advantage over other industrializing nations. What has distinguished the United States from other nations, however, has been the ability of the American government to enact public policies that assisted economic growth and promoted industrial development.

The history of public policy in the United States is sometimes described as a chronicle of government responses to economic change.1 Advocates of new manufacturing technologies, improvements in transportation, and innovations in communications all struggled ...

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