Social Regulation and Its Marginal Costs and Benefits

Social Regulation and Its Marginal Costs and Benefits
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Social regulations have been a function of the governments since time immemorial. In the 60s and the 70s, for example, the US government was busy regulating some of the social problems that emerged at the time. One of the main social regulations that came up at the time was the issue of discrimination, which led to the formation of the equal employment opportunities commission. This meant that the persons from other races who were American citizens had the chance to gain employment lawfully without discrimination along racial lines. The fact that the commission led to the free and fair employment opportunities also led to the ill of illegal immigration as people came to America as the land of opportunities.
Economically this social regulation is very much justifiable as the US can be in a position to tap into human resources within different fields. This builds on the economic viability of the regulation, as well as the benefit of revenues that accrue. However, there is a cost to pay for any social regulation that is implemented; in this case, the benefits surpass the marginal costs that are accrued. The issue of illegal immigrants cannot be blamed on the equal opportunities that the government has create...