Deregulation

Deregulation is the process by which governments remove selected regulations on business in order to (in theory) encourage the efficient operation of markets. The theory is that fewer regulations will lead to a raised level of competitiveness, therefore higher productivity, more efficiency and lower prices overall. Deregulation is different from liberalization because a liberalized market, allowing any number of players, can be regulated to protect the consumer's rights, especially to prevent de facto or even legal oligopolies.

New Zealand

New Zealand has had extensive deregulation since 1984. It was instigated by the Labour Party.

Related Topics:
New Zealand - 1984 - Labour Party

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See also: Economy of New Zealand

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