From “Business Ethics in a Free Society,” in Parth J. Shah, Morality of Markets (New Delhi: Academic Foundation & Centre for Civil Society, 2004): "To begin with, some hold that government regulation is justified in the American legal system, at least, on grounds that it is one of government’s official tasks to ‘promote the general welfare.’  Those who see government regulation as inconsistent with the ideals laid out in the US Declaration of Independence, namely, that government is instituted to secure our unalienable rights, would note that this is a mistaken understanding of the “general welfare” clause.  That means no more than that government exists for the welfare of the people, something that is achieved best by securing the rights of every citizen.  Even if the clause were to amount to a more pro-active view of government, government regulation of business tends to impede rather than enhance the general welfare, given its enormous cost and inefficiency...."

(Edited by Machan on 2/13, 2:41pm)