What Are the Arguments for and against, Greater Control Being Exercised over Business by Government?

What are the arguments for and against, greater control being exercised over business by government? How do these arguments differ between the countries of the group members?
We would like to start the answer by an example of USA when they were heavily involved in the industrialization and expansion. People of all different occupations were involved in some part of the industrial revolution. However there was a debate over the government intervening in the building of infrastructure. …