Deregulation
process of removing regulations
Deregulation is the process of removing or lowering state regulations, usually for economic purposes. It is the reversing of governmental regulation of the economy.[1] It became widely used in industrial economies in the 1970s and 1980s, as a result of new forms in economic thinking.
Economic regulations were promoted during the Gilded Age, in which progressive reforms were seen as important to make sure companies do not abuse labor laws.
References
change- ↑ Daly, Herman; Goodland, Robert (1994). "An ecological-economic assessment of deregulation of international commerce under GATT". Ecological Economics. 9: 73–92. doi:10.1016/0921-8009(94)90017-5.
