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Roles Of The Us Constitution Essay

812 words - 3 pages

Role of the United States Constitution"We the People of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America (Emory Law 2008)." The Constitution was written more than 200 years ago and is still the framework for which our nations' freedom is based upon. This document has remained an active governing force through all of the changes American society has faced since its creation. The Constitution is careful to define where powers lie, and power is an important as well as delicate element in business. This doctrine does a careful job of defining powers between state and federal governments.The nations' fundamental laws for business regulation are set forth by the Constitution of the United States. The Commerce Clause grants the federal government the authority to regulate commerce between states, nations, and Indian Tribes. "Because this clause authorizes the federal government to regulate commerce, it has a greater impact on business than any other provision in the Constitution (Cheeseman, 2004, p. 52)." The need for a more responsive and effective business regulation was the primary reason for the creation of this clause. The state and federal government have concurrent power to regulate domestic commerce. The parameters of interstate and intrastate commerce are regulated equally by the federal and state governments. Interstate commerce consists of business involving two or more states while intrastate commerce occurs solely within the boundaries of a single state. The intent is to protect businesses as well as consumers.If there were no regulations businesses would be uncontrollable. A company could create a monopoly and that could become very destructive. If one particular company were able to corner the market so to speak then they could charge outrageous prices, create a shortage that would lead a false demand, and in effect just make themselves more profit. State and federal regulations stop this from happening. At the same time these same state laws also make for fair treatment practices for consumers.I work in payday lending and our company, as well as any other similar business is mandated by the state to follow certain predetermined laws. The...

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