Recent Examples of deregulation from the Web
Of deregulation during President Jimmy Carter’s and President Bill Clinton’s terms.
The Trump administration has removed rules on banks, and more deregulation is likely to come.
Mulvaney shifted its focus away from enforcement and toward deregulation.
The pressure on Turkey and other emerging markets has also been exacerbated by a rising U.S. dollar, as investors anticipate stronger American growth in the wake of tax reform and deregulation.
There will be more chances to take advantage of free freezes A new federal rule that will make credit freezes free was part of a massive banking deregulation bill that passed the House on Tuesday and will be sent to President Trump.
Clyburn said that deregulation isn't bad in markets with robust competition, because competition itself can protect consumers.
Certainly there are some things that have happened, deregulation has happened which has caused the economy to grow.
The crisis in the industry comes just a few years after partial deregulation of local taxis came with optimism about higher incomes for drivers and better customer service.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'deregulation.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of DEREGULATION
What It Is
How It Works
The transportation industry is one of the most famous industries to feel the effects of deregulation. In 1887, Congress established the Interstate Commerce Commission (ICC), which regulated the railroad industry. Over time, the ICC came to regulate the trucking industry as well. The ICC licensed all truck operators, and it required new entrants to prove they were "necessary for the public convenience" in order to obtain licenses. The ICC allowed established shippers to argue whether the ICC should deny a license to a new entrant. The ICC also reviewed shipping rates, dictated what products the carriers could haul, what routes they could travel, and the cities they could do business in.
The inefficiency imposed by regulation and its focus on helping companies more than consumers became very apparent once the Motor Carrier Act of 1980 deregulated the trucking industry. The number of carriers nearly doubled in the four years after the legislation, freight rates fell as much as 20% in one year, overall industry wages fell, and many inefficient companies went out of business.
A similar situation occurred in the airline industry, which was regulated by the Civil Aeronautics Board (CAB) until 1978. Like the ICC, the CAB issued licenses, set fares, and regulated where carriers did business. The Airline Deregulation Act of 1978 eliminated these constraints, and the airline industry quickly expanded in employment, miles flown, and number of passengers.
Why It Matters
Like most economic policy, deregulation is controversial. Most economists agree that deregulation lowers an industry's barriers to entry and generally increases efficiency, competition, entrepreneurship, and innovation. Established producers have less control over competitors in a deregulated environment. Deregulation also benefits the broader economy because it no longer requires taxpayers to support the regulatory agency's overhead.
Overall, deregulation tends to increase choices and lower prices for consumers. In some cases, however, deregulation can be damaging to consumers, especially when natural monopolies are involved (such as electric utilities or other situations with immense infrastructure or technical needs). Some also point out that the elimination of weaker competitors in a deregulated environment means the loss of jobs.
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