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    Public policy refers to actions taken by government to address issues in society. Government policies provide legitimacy and universality to rules and are the only entity that can legitimately use coercion. Public policies are classified as regulatory, distributive, redistributive, capitalization, or ethical. They address areas like economic management, labor relations, welfare, and policies affecting businesses. Public policies are needed to create competitive markets and control foreign investment. They exist at the national, state, regional, and international levels.

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    BGS-3

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    Public policy refers to actions taken by government to address issues in society. Government policies provide legitimacy and universality to rules and are the only entity that can legitimately use coercion. Public policies are classified as regulatory, distributive, redistributive, capitalization, or ethical. They address areas like economic management, labor relations, welfare, and policies affecting businesses. Public policies are needed to create competitive markets and control foreign investment. They exist at the national, state, regional, and international levels.

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    2 views7 pages

    BGS 3

    Uploaded by

    vasuki
    Public policy refers to actions taken by government to address issues in society. Government policies provide legitimacy and universality to rules and are the only entity that can legitimately use coercion. Public policies are classified as regulatory, distributive, redistributive, capitalization, or ethical. They address areas like economic management, labor relations, welfare, and policies affecting businesses. Public policies are needed to create competitive markets and control foreign investment. They exist at the national, state, regional, and international levels.

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    of 7

    Module-3

    Public Policies
    Public Polices
    • Public policy is what government chooses to do or not to do.
    -Senator Patrick Moynihan.
    The role of public policies in governing
    business
    Government and public policy

    It lends legitimacy to policies


    Government policies involve universality
    Government alone can exercise coercion in society-only
    government can legitimately imprison violators of its
    policies.
    Classification of public policy
    • Regulatory
    • Distributive
    • Redistributive
    • Capitalization
    • Ethical
    Areas of public policy
    • Economic management
    • Labour management relations
    • The welfare state
    • Shaping of public policies affecting corporate sector
    Need for public policy in business

    • To create a competitive environment


    • To have control on foreign investment
    Levels of Public Policy
    • National level
    • State level
    • Regional level
    • International level

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