Final answer:
Entities such as government regulatory agencies hold the power to create rules affecting industries and businesses, balancing economic growth with societal protection. These regulations, while ensuring fair practices and environmental protection, can also impede business expansion with bureaucratic procedures. Wealth and corporate influence can impact the political process, sometimes resulting in legislation with exceptions and loopholes.
Step-by-step explanation:
Entities with the power to make rules for large industries and businesses that affect the public are typically governmental regulatory agencies. In the past, industries used their power to influence politics for their benefit. Today, however, there is a significant amount of regulations and restrictions that businesses must navigate, which are in place to protect the public, the environment, and to ensure fair business practices.
On one hand, government regulations can inhibit business growth by introducing bureaucratic obstacles, such as numerous permits, fees, and restricted business operations. On the other hand, these regulations ensure that businesses do not harm the environment, as seen with the Environmental Protection Agency (EPA) establishing standards that sometimes only apply to new firms. These bureaucratic red tape and regulatory measures are put in place to balance economic growth with societal needs and protections.
Moreover, the wealth and influence of corporate leaders allow them to shape public policy and opinion. They act as philanthropists, campaign contributors, and legislative influencers, asserting the priorities of the upper class, which can lead to compromises in the legislative process. This means that real-world laws may be laden with exceptions, reflecting the tug-of-war between various stakeholders in the political arena.