Without government involvement in business and its practices, you'd see the following:
- No minimum wage requirements
- Increased and unregulated discrimination and harassment in the workplace, and hiring practices
- Unsafe working environments (no workers' comp, health inspectors, etc.)
- Lack of company benefits, insurance, paid time off (sick leave, vacation), etc.
Yes, with government involvement we have stifled competition and that will drive up the prices of products, goods, and services. But it's the people at the bottom who would have to deal with the issues bulleted above on a day in day out basis, if government did not involve themselves in business affairs.
You may just be sore because of the buyout of SP in 1988, and subsequently 1996. But that doesn't mean that every business runs that way.