Show Me the Regulation?

There are at least two different positions taken on the question of whether government regulation or laws can facilitate ethical behavior.

The author in "Ethics Without Regulation Won't Cut It", takes the position that you cannot trust businesses on their own to do what is ethical; therefore some government intervention in the form of laws and regulations is necessary.

In two of your readings for the week, "Role of Government in Regulating Business Ethics" and Business Ethics: The Law of Rules", the authors seem to argue that overreaching laws and regulations do not facilitate ethical behavior, and indeed might have the opposite effect.

Using these articles as an initial starting point, what do you think about the debate and what is your position?

Why do you believe your position is sustainable or defensible?