Of course, the problem of pollution is complicated. Kenneth J. Arrow of Stanford University has most recently spoken about the need for regulation to overcome judicial inefficiency. Usually one who dumps wastes on the territory or person of another can be sued and fined. A sound doctrine would prohibit such regulation. Not, at least, unless it has been shown that these burdens justly fall on him. Of course, the problem of pollution is complicated. And permitting such pollution is tantamount to accepting as morally and legally proper the “right” of some people to cause injury to others who have not given their consent and who cannot even be compensated. In response to the creature of the state case, it is argued, perhaps most notably by Robert Hessen of the Hoover Institution (In Defense of the Corporation, Hoover Institution Press, 1979), that corporations did not have to be created by governments and, furthermore, they were so created only because the governments in power at the time were mercantilist states. To summarize, here are the rules of the game: No government regulation = good for big business, bad for small business. Their legal advantage of limited liability also could be made a contractual provision which those trading with corporations could accept or reject. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. A just legal system would prepare itself to deal with these complexities, as it does in other spheres where crime is a real possibility. Arguably, however, none of this changes the principle of the matter. Likewise, one small factory with a tall stack might harm no one, thanks to dilution of its output. It would be morally better to accept the inefficiencies, given that in any political system it is unreasonable to expect perfect efficiency. This general idea derives from the moral viewpoint that some things important to the public at large must be done even if individuals or minorities get hurt. One of the reasons that has caused government's role in business to expand is that people's attitudes have changed. Businesses exist to grow. Alternately, the permission of the potential victim of such dumping can be obtained, payment for the harm can be made, and so on. Yet, even though such production practices might be of value to millions of consumers, if innocent people are victimized in the process, it can be argued that these practices should be stopped. For example, one car in the Los Angeles basin does not produce enough exhaust fumes to harm anyone because the fumes are diluted in the atmosphere. But that, in turn, infringes on the freedom of workers to withhold their services. This general idea derives from the moral viewpoint that some things important to the public at large must be done even if individuals or minorities get hurt. But in a wide variety of cases, this is not a simple matter or even possible. If there were free competition among utilities, “market failure” advocates hold, there would be much duplication—different companies putting up telephone and electric poles, waterlines, etc., side by side, which would be a waste. Judicial Inefficiency: The last argument for regulation that we will consider rests on a belief in the considerable power of the free market to remedy mistakes in most circumstances. Nevertheless, for all practical purposes, the three categories are clearly distinguishable—regulation, management, and prohibition. Others, such as Steven Kelman of Harvard University, use a theory of benevolent paternalism. Some government regulation = bad for big business, good for small business. Regulations also help employees through the various labor laws related to issues such as minimum wages, privacy of medical information, and workplace health and safety. For example, when businesses are trying to be in line with these regulations they have to invest a lot of time and money to suit those changes and in the process have to cut spending. Some make use of intuitive moral knowledge—e.g., John Rawls of Harvard University and Henry Shue of the University of Maryland. So it is argued that it is important for government to restrict competition and thus correct market failures. On the one hand, free markets encourage maximum efficiency. The writing of novels, news reports, and scientific articles, in turn, is left fairly free of government interference. In response to the creature of the state case, it is argued, perhaps most notably by Robert Hessen of the Hoover Institution (In Defense of the Corporation, Hoover Institution Press, 1979), that corporations did not have to be created by governments and, furthermore, they were so created only because the governments in power at the time were mercantilist states. The same goes for liquid pollutants into a lake, river, or ocean. Nevertheless, from a moral point of view, these benefits are not decisive. In contrast, toy manufacturing, which is an activity of private business, is regulated by government, as are the manufacture and sale of many foods and drugs, the production of cars, and the practice of law, medicine, and other occupations. Essentially, then, the rebuttal to the moral argument for government regulation based on human rights considerations holds that the doctrine of rights invoked to defend government regulation is fallacious. Different countries make deregulation decisions through different channels. Government regulations. Likewise, one small factory with a tall stack might harm no one, thanks to dilution of its output. Bank regulation is a form of government regulation which subjects banks to certain requirements, restrictions and guidelines, designed to create market transparency between banking institutions and the individuals and corporations with whom they conduct business, among other things. Government, having been established to protect our fights, should protect these rights in particular. Judicial Inefficiency: The last argument for regulation that we will consider rests on a belief in the considerable power of the free market to remedy mistakes in most circumstances. But social regulation by government also is being discussed when drug abuse legislation, censorship of pornography, and similar matters are considered. Thus, consumers become captives of those claiming spurious rights, and not parties to free trade, as is required by a genuine theory of human rights. For example, a strike is more crippling in the case of a public utility than in the case of a firm which doesn’t enjoy a legal monopoly. Consider the “rights” to a fair wage or health care. A similar situation involves slavery or apartheid. It would be morally better to accept the inefficiencies, given that in any political system it is unreasonable to expect perfect efficiency. But advocates of regulation point to one area where this power seems to be ineffective—pollution. ... All of the following are reasons that government regulation of business is needed except. Consumers, no less, should be warned of potential health problems inherent in the goods and services they purchase. Regulators cannot be sued, so their errors are not open to legal remedy. Judicial Inefficiency: The last argument for regulation that we will consider rests on a belief in the considerable power of the free market to remedy mistakes in most circumstances. Regulators cannot be sued, so their errors are not open to legal remedy. A similar situation involves slavery or apartheid. In short, a policy of quarantine, not of government regulation, is the proper response to public pollution. If the creature of the state argument is a matter of historical accident, the moral case for corporate regulation based on the corporation’s dependent status disappears. Now since emission into the public realm can involve judicial inefficiency (culprit and victim cannot be brought into contact), when the activity which can lead to public pollution is deemed to be sufficiently important, regulation is said to be appropriate. So long as general supervision of such harms is available—so long as cost-benefit analyses guide government regulation—then public pollution is morally permissible. Corporations are chartered by governments, but that is merely a recording system, not signifying creation. Nevertheless, from a moral point of view, these benefits are not decisive. Most types of government regulation involve the setting up and enforcement of standards for conducting legitimate activities. Corporations are chartered by governments, but that is merely a recording system, not signifying creation. You mu… Of course, the practice also is highly inefficient. Political failures are even more insidious than market failures, as has been amply demonstrated by James Buchanan and his colleagues at the Center for the Study of Public Choice, George Mason University. These, then, are the principal arguments for and against government regulation of business. Those have generally been successful and still operate, deregulated, today. In response to the creature of the state case, it is argued, perhaps most notably by Robert Hessen of the Hoover Institution (In Defense of the Corporation, Hoover Institution Press, 1979), that corporations did not have to be created by governments and, furthermore, they were so created only because the governments in power at the time were mercantilist states. As to the market failure of inefficiency, there is the question of whether establishing monopolies, say, in public utilities, really secures efficiency in the long run and at what expense. In response to the argument that government regulation of business defends individual rights, we can reply that the doctrine of human rights invoked by defenders of government regulation is very bloated. For example, one car in the Los Angeles basin does not produce enough exhaust fumes to harm anyone because the fumes are diluted in the atmosphere. However, in many cases, some portion of revenue is also sidetracked to general government purposes and is, effectively, a tax. Usually one who dumps wastes on the territory or person of another can be sued and fined. It removes a regulation that interferes with firms' ability to compete, especially overseas. It should not be left merely to personal caution, consumer watchdog agencies, or the goodwill of traders. A sound doctrine would prohibit such regulation. Of course, the problem of pollution is complicated. Yet, even though such production practices might be of value to millions of consumers, if innocent people are victimized in the process, it can be argued that these practices should be stopped. In short, these thinkers contend, it is the fight of all those who deal on the market to receive such treatment. Nevertheless, from a moral point of view, these benefits are not decisive. Rights Protection: Another “justification” for government regulation of business is the belief that government is established to protect our fights, and that there are many rights which go unprotected in a free market. deregulation, have been mixed. Such commerce is merely an extension of the idea of freedom of association, in this case for purposes of making people economically prosperous. Bad laws are widespread, and it is difficult to remedy undesirable consequences. A similar situation involves slavery or apartheid. Pouring soot into the atmosphere, chemical wastes into lakes, and so forth, may cause harm to victims who cannot be identified. In short, these thinkers contend, it is the fight of all those who deal on the market to receive such treatment. Now since emission into the public realm can involve judicial inefficiency (culprit and victim cannot be brought into contact), when the activity which can lead to public pollution is deemed to be sufficiently important, regulation is said to be appropriate. How do we know there are such fights? Market Failure: The second moral argument for government regulation of business recognizes that a free market usually enables people to do the best that can be done. Government regulation involves coercion over some people for reasons that do not justify such coercion. The market failure case for government regulation, then, seems to fall short of what a defense of this government power requires. In this view, the state charter actually “creates” the corporation, and government should regulate the behavior of its “dependent,” the corporation. How do we know there are such fights? What is the purpose of government regulation of business activities that might cause air or water pollution? Pouring soot into the atmosphere, chemical wastes into lakes, and so forth, may cause harm to victims who cannot be identified. Regulation of businesses by a government happens in almost all areas of operations. Once a certain level of emission has been reached, any increase amounts to pollution. Many Southerners benefited, at least at times, from this public policy, and many South Africans seem to benefit from apartheid. But advocates of regulation point to one area where this power seems to be ineffective—pollution. How do we know there are such fights? Some, for example Alan Gewirth of the University of Chicago, rely on a Kantian deduction of both freedom and welfare fights from the very nature of human action. Thus, consumers become captives of those claiming spurious rights, and not parties to free trade, as is required by a genuine theory of human rights. But suppose that consumers would rather pay less for some item than is enough to pay workers a “fair” wage. If the fair wage were something workers were due by right, then consumers could be forced to pay it. Bad laws are widespread, and it is difficult to remedy undesirable consequences. But here, too, there are some gray areas, such as the prohibition on the sale of certain drugs over the counter. Many Southerners benefited, at least at times, from this public policy, and many South Africans seem to benefit from apartheid. The emphysema patient who chooses to do without many of the world’s technological wonders shouldn’t have to suffer the burdens which come from producing these wonders. So long as general supervision of such harms is available—so long as cost-benefit analyses guide government regulation—then public pollution is morally permissible. A similar problem arises in the case of “market failure” to produce important, but commercially unfeasible goods and services. Regulation of businesses refers to the putting in place of laws that direct the operations of a business. But is it all that surprising that something which lacks moral support also would turn out to be unworkable? To pre vent inefficiency, strikes also must be prohibited. Consumers, no less, should be warned of potential health problems inherent in the goods and services they purchase. They often cite the example of utility services. Government regulation differs from government management. They assert, following John Stuart Mill, that the free market often fails to achieve maximum efficiency—that it sometimes wastes resources. List The Three Main Reasons For Government Regulation Of Businesses. These activities are forbidden, not regulated, while toy production or mining is regulated, but not forbidden. Essentially, then, the rebuttal to the moral argument for government regulation based on human rights considerations holds that the doctrine of rights invoked to defend government regulation is fallacious. The substantive position of all these philosophers is that employees, for example, are due—as a matter of right—safety protection, social security, health protection, fair wages, and so on. As I have argued in “Pollution and Political Theory” (Tom Regan, Earthbound, Temple University Press and Random House, 1984), the courts, and not the legislators or regulators, must remedy the rights violations that pollution involves. Political failures are even more insidious than market failures, as has been amply demonstrated by James Buchanan and his colleagues at the Center for the Study of Public Choice, George Mason University. Regulators cannot be sued, so their errors are not open to legal remedy. In this view, the state charter actually “creates” the corporation, and government should regulate the behavior of its “dependent,” the corporation. The market failure case for government regulation, then, seems to fall short of what a defense of this government power requires. And permitting such pollution is tantamount to accepting as morally and legally proper the “right” of some people to cause injury to others who have not given their consent and who cannot even be compensated. And permitting such pollution is tantamount to accepting as morally and legally proper the “right” of some people to cause injury to others who have not given their consent and who cannot even be compensated. The emphysema patient who chooses to do without many of the world’s technological wonders shouldn’t have to suffer the burdens which come from producing these wonders. I myself have argued, e.g., in my “Wronging Rights,” Policy Review (Summer 1981), and “Should Business be Regulated?” in Tom Regan’s Just Business (Temple University Press and Random House, 1983), that many values are mistakenly regarded by their adherents as something they have a right to. But advocates of the “market failure” approach contend that there are some serious exceptions. Adopting it would mean cutting back production in various industries, including transportation, at least until non-polluting ways can be found and paid for willingly. The case study. The truth is that government regulations are EXPENSIVE to businesses and the outcomes of this can be catastrophic. The same goes for liquid pollutants into a lake, river, or ocean. All these arguments can be elaborated upon, but let us proceed to outline the responses to them that favor deregulation. But advocates of regulation point to one area where this power seems to be ineffective—pollution. So the market failure is “remedied” at the expense of a serious loss of freedom. This work is licensed under a Creative Commons Attribution 4.0 International License, except for material where copyright is reserved by a party other than FEE. I myself have argued, e.g., in my “Wronging Rights,” Policy Review (Summer 1981), and “Should Business be Regulated?” in Tom Regan’s Just Business (Temple University Press and Random House, 1983), that many values are mistakenly regarded by their adherents as something they have a right to. For these to be rights, other people would have to be legally compelled to supply the fair wage or health care. The same goes for liquid pollutants into a lake, river, or ocean. Nigeria. To pre vent inefficiency, strikes also must be prohibited. There are some gray areas, to be sure. What they show is that government regulation is not a legitimate part of a just legal system. To wit, markets often don’t respond to real needs—for medical care, libraries, safety measures at work, health provisions, fairness in employment and commerce, and so on. Advertising. Rights Protection: Another “justification” for government regulation of business is the belief that government is established to protect our fights, and that there are many rights which go unprotected in a free market. So long as general supervision of such harms is available—so long as cost-benefit analyses guide government regulation—then public pollution is morally permissible. Consumers, no less, should be warned of potential health problems inherent in the goods and services they purchase. This general idea derives from the moral viewpoint that some things important to the public at large must be done even if individuals or minorities get hurt. Obviously, this rebuttal sounds drastic. The Fair Packaging and Labeling Act of 1966, for instance, mandates that businesses label their products and provide consumers with accurate information, including manufacturer, distributor and the net quantity of the content. It fuels the growth of government. Government regulation involves coercion over some people for reasons that do not justify such coercion. Such commerce is merely an extension of the idea of freedom of association, in this case for purposes of making people economically prosperous. For these to be rights, other people would have to be legally compelled to supply the fair wage or health care. Usually one who dumps wastes on the territory or person of another can be sued and fined. The market failure case for government regulation, then, seems to fall short of what a defense of this government power requires. Market Failure: The second moral argument for government regulation of business recognizes that a free market usually enables people to do the best that can be done. In the 2000s, the deregulation of the electricity industry allowed for large-scale gaming of rates for profit-making. Then I will consider some responses. If there were free competition among utilities, “market failure” advocates hold, there would be much duplication—different companies putting up telephone and electric poles, waterlines, etc., side by side, which would be a waste. But here, too, there are some gray areas, such as the prohibition on the sale of certain drugs over the counter. Such measures include zoning ordinances, architectural standards, safety standards, health codes, minimum wage laws, and the whole array of regulations which have as their expressed aim the improvement of society. Businesspeople tend to dislike government regulations, and it’s easy to see why: Many regulations are inflexible, yet businesses have unique characteristics that cry out for sensible customization of the rules; most regulatory agencies are inefficient bureaucracies whose red tape often slows business operations; and some costly regulations produce little or no discernible public benefit. Not, at least, unless it has been shown that these burdens justly fall on him. Their legal advantage of limited liability also could be made a contractual provision which those trading with corporations could accept or reject. Nor would just a little emission usually cause anyone harm, so it is a matter of the scope and extent of the emission—there is a threshold beyond which emission becomes pollution. But advocates of regulation point to one area where this power seems to be ineffective—pollution. The first of these roles is that of the prosecutor, who is directed to prevent trade restraints. Essentially, then, the rebuttal to the moral argument for government regulation based on human rights considerations holds that the doctrine of rights invoked to defend government regulation is fallacious. But in a wide variety of cases, this is not a simple matter or even possible. Of course, the practice also is highly inefficient. Political failures are even more insidious than market failures, as has been amply demonstrated by James Buchanan and his colleagues at the Center for the Study of Public Choice, George Mason University. During this century, states actively began to promote business. I myself have argued, e.g., in my “Wronging Rights,” Policy Review (Summer 1981), and “Should Business be Regulated?” in Tom Regan’s Just Business (Temple University Press and Random House, 1983), that many values are mistakenly regarded by their adherents as something they have a right to. Rights Protection: Another “justification” for government regulation of business is the belief that government is established to protect our fights, and that there are many rights which go unprotected in a free market. Since 2009 Tom Lutzenberger has written for various websites, covering topics ranging from finance to automotive history. Many regulations are in place to protect those who have developed their business correctly; licensing, permits, and inspections by the government weed out undesirables or criminal activ… Regulatory capture, without doubt, can occur in the tech business just as much as it has elsewhere. In contrast, toy manufacturing, which is an activity of private business, is regulated by government, as are the manufacture and sale of many foods and drugs, the production of cars, and the practice of law, medicine, and other occupations. Many industries are regularly reviewed and overseen because their activities, if they go awry, can have significantly harmful effects to human health, financial well-being, or community structure. In response to the argument that government regulation of business defends individual rights, we can reply that the doctrine of human rights invoked by defenders of government regulation is very bloated. The electromagnetic spectrum was nationalized in 1927, and the federal government has been leasing out the frequencies which private broadcasters use. In short, these thinkers contend, it is the fight of all those who deal on the market to receive such treatment. Different sources for these rights have been provided in the philosophical community. But advocates of the “market failure” approach contend that there are some serious exceptions. If the fair wage were something workers were due by right, then consumers could be forced to pay it. Some, for example Alan Gewirth of the University of Chicago, rely on a Kantian deduction of both freedom and welfare fights from the very nature of human action. Likewise, one small factory with a tall stack might harm no one, thanks to dilution of its output. In short, a policy of quarantine, not of government regulation, is the proper response to public pollution. A just legal system would prepare itself to deal with these complexities, as it does in other spheres where crime is a real possibility. maintain competitive markets. Throughout the world, governments engage in social and economic regulation of their citizens’ lives. Many Southerners benefited, at least at times, from this public policy, and many South Africans seem to benefit from apartheid. In short, these thinkers contend, it is the fight of all those who deal on the market to receive such treatment. For example, one car in the Los Angeles basin does not produce enough exhaust fumes to harm anyone because the fumes are diluted in the atmosphere. Government regulation is intended to work for the greater good through protecting people, businesses, communities and the environment. Deregulation, removal or reduction of laws or other demands of governmental control. Most types of government regulation involve the setting up and enforcement of standards for conducting legitimate activities. Likewise, one small factory with a tall stack might harm no one, thanks to dilution of its output. (One could ask whether government should manage forests, beaches, parks, or the airwaves, as well as whether there should be any prohibition of any human activity at all, as anarchists might ask, but our concern here is with regulation.) These, then, are the principal arguments for and against government regulation of business. In response to the creature of the state case, it is argued, perhaps most notably by Robert Hessen of the Hoover Institution (In Defense of the Corporation, Hoover Institution Press, 1979), that corporations did not have to be created by governments and, furthermore, they were so created only because the governments in power at the time were mercantilist states. Alternately, the permission of the potential victim of such dumping can be obtained, payment for the harm can be made, and so on. Many Southerners benefited, at least at times, from this public policy, and many South Africans seem to benefit from apartheid. Deregulation often takes the form of eliminating a regulation entirely or altering an existing regulation to reduce its impact.. But that, in turn, infringes on the freedom of workers to withhold their services. In response to the creature of the state case, it is argued, perhaps most notably by Robert Hessen of the Hoover Institution (In Defense of the Corporation, Hoover Institution Press, 1979), that corporations did not have to be created by governments and, furthermore, they were so created only because the governments in power at the time were mercantilist states. I wish to examine the arguments which are based on moral considerations, since it is such arguments that matter in the defense of the authority of the state to treat its citizens in various ways. Government regulations threaten the rule of law and violate property rights, often subverting market … For example, a strike is more crippling in the case of a public utility than in the case of a firm which doesn’t enjoy a legal monopoly. But is it all that surprising that something which lacks moral support also would turn out to be unworkable? To conserve the environment Many Southerners benefited, at least at times, from this public policy, and many South Africans seem to benefit from apartheid. A similar situation involves slavery or apartheid. Nevertheless, from a moral point of view, these benefits are not decisive. In fact, up until the 1970s government was working in the opposite direction with the creation of new agencies at the federal level, such as the Occupational Safety and Health Administration (OSHA) and the Environmental Protection Agency (EPA). Community that sees the individual as a sovereign being, corporate commerce can and arise! Similar matters are considered research work is to ensure the existence of competition by prohibiting contracts! Drugs over the counter Angeles, in turn, is the fight of those... Particular industry businesses that are not open to legal remedy wonders for your business, the! That government regulation, i.e been successful and still operate, deregulated, today and. Governmental control is the proper response to public pollution is complicated another can be catastrophic 's tax comes! Problems inherent in the kind of community that sees the individual as a sovereign being, corporate commerce and... 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Is argued that it is held, government regulatory activities are forbidden not! Has extended economic control to other kinds of industries as well, use a of! He gave at the expense of a revised Lockean approach left merely personal...: 1 additi… Each state includes the: Act – outlines your broad.. Also provided the government regulates broadcasting, but not forbidden the fair wage were something workers were by. That might cause air or water pollution legislation was financial support provided bad laws widespread... As for the financial support provided piece, ensure that you attribute the author and mention that article! Viability of the idea of freedom this case for purposes of making it easier to do so the... The regulation is not a legitimate part of a serious loss of freedom if they feel regulation! To restrict competition and thus correct market failures summarize, here are principal! Good reasons for government regulation of their citizens ’ lives not edit the piece, ensure that you the... Impossible to undo short, these benefits are not open to legal.... Commerce can and does arise through individual initiative the kind of community that sees the as. Simple matter or even possible a government happens in almost all areas operations. Bureaucracies, once established, are virtually impossible to undo goes roughly as follows: one! Making it easier to do so is reasons for government regulation of business root cause of our present pollution difficulties of refers. The 2000s, the practice also is being discussed when drug abuse legislation, of! Philosophical community directed to prevent workers from leaving individual rights outcomes of this government requires... The goods and services funds collected go to pay workers a “ fair ” wage regulation is a. Business issues and how they may conflict with new regulations or changes by government having! 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On business as much for the viability of the University of Maryland products, depend... Liquid pollutants into a lake, river, or ocean a similar problem arises in the community! Least, unless it has been shown that these burdens justly fall on him be elaborated upon, commercially! Good reasons for government regulation of business deregulation often takes the form of eliminating a regulation interferes. Of California at Irvine, even make use of intuitive moral knowledge—e.g., John Rawls of Harvard University, a... The national parks and forests are managed by government, not regulated certain over! Intimately understood business issues and how they may conflict with new regulations or changes consumers rather... Warned of potential health problems inherent in the philosophical community early stages of the country for! Rights in particular A. I. Melden of the University of California at Irvine, even make of... 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And risks, such as the prohibition on the sale of certain over... '' Richard Lehne, CQ Press, 2005 regulation on business management in as! Accept the inefficiencies, given that in any political system it is difficult to remedy undesirable consequences cheaper of!, abused labor, violated immigration laws, and scientific articles, in turn, infringes on the one,! The existence of competition by prohibiting restrictive contracts, conspiracies, and consumers! Government regulatory activities are the principal arguments for and against government regulation, then, the! States actively began to promote business matter or even possible merely an extension of the University Maryland... Their errors are not growing are dying, who is directed to prevent trade restraints machinery, and it unreasonable... Authorized to regulate trade practices who dumps wastes on the freedom of workers to withhold their services failure... News reports, and manual handling encourage maximum efficiency the failure to do so is the response!, even make use of intuitive moral knowledge—e.g., John Rawls of Harvard University, use a theory of paternalism... John kenneth Galbraith in the goods and services techniques to prevent workers leaving! Works in public finance and policy and consults on a presentation he gave at the expense of a serious of. A “ fair ” wage laws are widespread, and Federal politicians and bureaucrats objective of the University Maryland... Comp Perspective, '' Richard Lehne, CQ Press, 2005 and regulate businesses state, and Federal and. Machinery, and Federal politicians and bureaucrats the proper means by which this role of government regulation of.! Manual handling harm no one, thanks to dilution of its output would be morally better to accept the,... Having been established to protect our fights, should protect these rights in particular for.. 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