Why did business leaders oppose government regulation of business?

Business leaders opposed government regulation of business primarily because they believed it stifled innovation, competition, and economic growth. They argued that regulations could impose unnecessary costs and constraints on operations, making it harder for companies to thrive. Additionally, many felt that the free market should determine business practices rather than government intervention, which they viewed as an infringement on individual and corporate freedoms. This perspective often emphasized the belief that minimal regulation would lead to greater efficiency and consumer benefits.