I submit it is the primary role of government to protect the interests of the people.

Unfortunately, there is a misguided belief (by some), that in a capatilist system business will take care of the interests of the people first, not the interests of the company. Taken further (by some) government has no role in ensuring that business operates in a manner that protects the public interest.

There is also a belief that business will take care of the financial interests of the people of the nation in which they operate (i.e. trickle down economics). However, Globalization and associated tax structures has changed how companies operate and minimized national loyalities and benefits.

IMO, there are definately areas where business should operate with as little government control as possible. However, there is a clear role for government. there are also cases where government intervention is required where the public interest is not being served. In some more extreme cases, (ie government sponsored health care in some nations), I suspect it would be called socialism.