the business of government, the governing of business

I don't know much about politics, nor do I know much about business.  So I get confused sometimes (okay, often) trying to follow the business of running a government, or the governing of businesses.  For example, the political right champions limited federal government.  While that may reduce some unnecessary bureaucracy, it leaves smaller entities such as states and cities unequipped to deal with larger issues or forces, such as the recent cases of failed oversight on compounding pharmacies.  Other things like free market, de-regulation, and competition, seem to be the business philosophies that the political right very much supports.  The result of those forces is often consolidation, which can lead to higher efficiency, and better values for the consumers.  But of course it can also lead to too big to fail, or corporations abusing their power for pure greed and to the detriment of the society.   So what do we want exactly?  If we continue to head to the right, what we get will be big businesses running wild and the government too small as to basically serve the business interest of the most powerful?  I think we might already be there.