07687. THE CASE FOR GOVERNMENT REGULATION OF BUSINESS. Strong "advocacy" argument for greater regulation. Begins by examining the counter-argument of regulation through the marketplace in A. Smith and M. Friedman, then focuses on imperfections in market (after Keynes and Galbraith) to argue for more regulation. Uses Congressional investigations of mistakes and crime in petroleum and banking industries to argue for consumer protection, example of Japan to argue for long-term investment planning. 10 pages, 16 footnotes, 11 bibliographic sources.