Deregulation

Deregulation is the reduction or removal of government rules governing an industry or economic activity. It can change who may provide services, how prices are set, and what obligations firms face.

Economic regulation: Government rules that shape prices, entry, service, and conduct in markets. Deregulation reduces or removes this broader set of rules.
Airline Deregulation Act: A 1978 United States law that phased out federal control of domestic airline routes and fares. It is a landmark example of replacing economic controls with competition.
Reregulation: The introduction or redesign of rules after an earlier period of deregulation. Some reforms replace removed controls with rules addressing new market conditions.
Consumer welfare: The benefits consumers receive from market outcomes, including prices, quality, and choice. Deregulation is often evaluated by whether it improves these outcomes.
Regulatory capture: A process in which a regulator advances the interests of the industry it oversees rather than the public interest. Claims of capture often motivate deregulation, though removal can create new forms of influence.
Staggers Rail Act: A 1980 United States law that eased federal regulation of freight rail rates and operations. It illustrates sectoral deregulation paired with continuing oversight.
Privatization: The transfer of ownership or control of an enterprise or asset from the public sector to private parties. A state-owned firm can be privatized without its industry being deregulated.
Market failure: A condition in which market outcomes do not efficiently allocate resources or reflect social costs and benefits. Deregulation can expose failures that rules were designed to correct.
Barriers to entry: Conditions that make it difficult for new firms to enter a market. Removing licensing or entry restrictions can lower these barriers.
Telecommunications Act of 1996: A United States law intended to open telecommunications markets to competition and revise federal communications rules. Its implementation shows that deregulation may also create new regulatory frameworks.

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