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.

United States

Deregulation was a major trend in the United States in the last quarter of the twentieth century. A number of major deregulation initiatives were passed. Some of these were withdrawn quickly (but not quickly enough to avoid major problems), including the deregulation of savings and loans. American savings banks, which were permitted to lend unfettered, had their depositors funds insured by the federal government, creating a moral hazard. The California electricity crisis was precipitated by price manipulations by companies such as Enron after energy industry deregulation in 1996. Other legislation has been considered more widely successful, including deregulation of transport, and the gas market. In 1996, the media market was significantly deregulated.

Related Topics:
Twentieth century - Savings and loans - Moral hazard - California electricity crisis - Enron - Transport - Gas market - 1996 - Media market

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Related Legislation

• 1976 - Hart-Scott-Rodino Antitrust Improvements Act PL 94-435
• 1978 - Airline Deregulation Act PL 95-50
• 1978 - National Gas Policy Act PL 95-621
• 1980 - Depository Institutions Deregulation and Monetary Control Act PL 96-221
• 1980 - Motor Carrier Act PL 96-296
• 1980 - Staggers Rail Act PL 96-448
• 1982 - Garn - St Germain Depository Institutions Act PL 97-320
• 1982 - Bus Regulatory Reform Act PL 97-261
• 1989 - Natural Gas Wellhead Decontrol Act PL 101-60
• 1992 - National Energy Policy Act PL 102-486
• 1996 - Telecommunications Act PL 104-104
• 1999 - Gramm-Leach-Bliley Act PL 106-102

Me Cago en tu Madre, Cabron.

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