How should we regulate business in a globalized capitalistic economy?

Although this assumes that business needs regulation, I would like to start with that assumption. The assumption is based on the fact that some basic human rights need to be recognized in the workforce. However, how much should it be regulated, and in what way?

Please take into account, if possible, the fact that labor can be outsourced to countries with unstable government, and what the risks are associated with that. Please also consider how this should play out in a capitalist economy…and when you think regulation may mean the economy has crossed over into some other form and is capitalism in name only.

If you can imagine a system that you think is ideal but for some reason unworkable…why do you think so?

Thanks!