Deregulation
Definition
Deregulation refers to the reduction or removal of government regulations and restrictions on industries and businesses, allowing for more competition and market freedom. This often leads to less governmental oversight in sectors such as finance, telecommunications, and transportation.
Analogy
Imagine a traffic jam caused by excessive road regulations. Deregulation would be like removing unnecessary traffic rules and allowing cars to flow freely, resulting in faster movement and increased options for drivers.
Related terms
Privatization: The transfer of ownership or control of government-owned assets or services to private entities.
Monopoly: A situation where a single company dominates an entire industry with no or limited competition.
Laissez-faire: An economic ideology that advocates minimal government intervention in the economy, promoting free market principles.
"Deregulation" appears in:
Subjects (2)
Practice Questions (3)
What was the impact of deindustrialization and deregulation on the economy in the 1980s and 1990s?
Which policy is associated with deregulation and economic conservatism during the late twentieth century?
What policy of the late twentieth century is often associated with increased deregulation and tax cuts for corporations?
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