Deregulation

deregulatedderegulatederegulatingderegulatorybanking deregulationfinancial deregulationdecreasing regulationde-regulatoryderegulated economyderegulation of market
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere.wikipedia
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Neoliberalism

neoliberalneo-liberalneo-liberalism
Around the late 1970s, such reforms were deemed as burdensome on economic growth and many politicians espousing neoliberalism started promoting deregulation.
Neoliberalism is generally associated with policies of economic liberalization, including privatization, deregulation, free trade, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society.

Privatization

privatisationprivatizedprivatised
Deregulation can be distinguished from privatization, where privatization can be seen as taking state-owned service providers into the private sector. The Conservative government led by Margaret Thatcher started a programme of deregulation and privatisation after their victory at the 1979 general election. Argentina underwent heavy economic deregulation, privatization, and had a fixed exchange rate during the Menem administration (1989–1999).
It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated.

Margaret Thatcher

ThatcherBaroness ThatcherThatcherite
The Conservative government led by Margaret Thatcher started a programme of deregulation and privatisation after their victory at the 1979 general election.
Her political philosophy and economic policies emphasised deregulation (particularly of the financial sector), flexible labour markets, the privatisation of state-owned companies, and reducing the power and influence of trade unions.

Argentina

ArgentineARGArgentinian
Argentina underwent heavy economic deregulation, privatization, and had a fixed exchange rate during the Menem administration (1989–1999).
Menem embraced neo-liberal policies: a fixed exchange rate, business deregulation, privatizations and dismantling of protectionist barriers normalized the economy for a while.

Enron scandal

Enroncollapse of EnronTimeline of the Enron scandal
Former Premier Ralph Klein based the entire deregulation scheme on the Enron model, and continued with it even after the highly publicized and disastrous California electricity crisis (and the collapse of Enron because of illegal accounting practices.)
In the early 1990s, he helped to initiate the selling of electricity at market prices, and soon after, Congress approved legislation deregulating the sale of natural gas.

Staggers Rail Act

Staggers ActStaggers Rail Act of 1980Rail deregulation in the U.S.
President Jimmy Carter devoted substantial effort to transportation deregulation, and worked with Congressional and civil society leaders to pass the Airline Deregulation Act (October 24, 1978), Staggers Rail Act (signed October 14, 1980), and the Motor Carrier Act of 1980 (signed July 1, 1980).
The Staggers Rail Act of 1980 is a United States federal law that deregulated the American railroad industry to a significant extent, and it replaced the regulatory structure that had existed since the Interstate Commerce Act of 1887.

Regulatory economics

economic regulationregulationeconomics of regulation
It is the repeal of governmental regulation of the economy.

Motor Carrier Act of 1980

Motor Carrier Actderegulated in 1980deregulating transport
President Jimmy Carter devoted substantial effort to transportation deregulation, and worked with Congressional and civil society leaders to pass the Airline Deregulation Act (October 24, 1978), Staggers Rail Act (signed October 14, 1980), and the Motor Carrier Act of 1980 (signed July 1, 1980).
The Motor Carrier Regulatory Reform and Modernization Act, more commonly known as the Motor Carrier Act of 1980 (MCA) is a United States federal law which deregulated the trucking industry.

Surface Freight Forwarder Deregulation Act of 1986

Surface Transportation Deregulation Act
Freight forwarders (freight aggregators) got more freedoms in the Surface Freight Forwarder Deregulation Act of 1986.
The Surface Freight Forwarder Deregulation Act of 1986, Public Law 99-521, is a federal law of the United States which eliminated federal regulation of prices, services and entry as to general commodities surface 'freight forwarders' This Act was a follow on to a sweeping program to free up competitive forces in United States transportation, most but not all of which was accomplished in the 1971-1980 period, as set out in the deregulation topic in this encyclopedia.

Railroad Revitalization and Regulatory Reform Act

4R ActRailroad Revitalization and Regulatory Reform Act of 1976Railroad Revitalization and Regulation Reform Act of 1976
After Nixon left office, the Gerald Ford presidency, with the allied interests, secured passage of the first significant change in regulatory policy in a pro-competitive direction, in the Railroad Revitalization and Regulatory Reform Act of 1976.
The Act was the first in a series of laws which collectively are described as the deregulation of transportation in the United States.

Brookings Institution

The Brookings InstitutionBrookings Institution PressBrookings
Two leading 'think tanks' in Washington, the Brookings Institution and the American Enterprise Institute, were active in holding seminars and publishing studies advocating deregulatory initiatives throughout the 1970s and 1980s.
Brookings traces its history back to 1916 and has contributed to the creation of the United Nations, the Marshall Plan, and the Congressional Budget Office, as well as to the development of influential policies for deregulation, broad-based tax reform, welfare reform, and foreign aid.

Garn–St. Germain Depository Institutions Act

Garn-St. Germain Depository Institutions ActGarn–St. Germain Depository Institutions Act of 1982
The Garn–St Germain Depository Institutions Act of 1982 (, enacted October 15, 1982) is an Act of Congress that deregulated savings and loan associations and allowed banks to provide adjustable-rate mortgage loans.

Airline Deregulation Act

deregulationairline deregulationAirline Deregulation Act of 1978
President Jimmy Carter devoted substantial effort to transportation deregulation, and worked with Congressional and civil society leaders to pass the Airline Deregulation Act (October 24, 1978), Staggers Rail Act (signed October 14, 1980), and the Motor Carrier Act of 1980 (signed July 1, 1980).
While the initiative was in process in the Ford administration, the Senate Judiciary Committee, which had jurisdiction over antitrust law, began hearings on airline deregulation in 1975.

Energy Policy Act of 1992

Energy Policy ActEnergy Act of 1992Energy Policy
The Energy Policy Act of 1992 eliminated obstacles for wholesale electricity competition, but deregulation has yet to be introduced in all states.
EPACT92 was far reaching in the impacting electric power deregulation, building codes and new energy efficient products.

Globalization

globalisationglobalizedglobal
The movement toward greater reliance on market forces has been closely related to the growth of economic and institutional globalization between about 1950 and 2010.
James holds that this series of distinctions allows for an understanding of how, today, the most embodied forms of globalization such as the movement of refugees and migrants are increasingly restricted, while the most disembodied forms such as the circulation of financial instruments and codes are the most deregulated.

Electricity provider switching

Electricity provider switching is the ability of power consumers to have an option—or the "power to choose"—their electricity provider in a deregulated electricity market as permitted by a state public utilities governing body.

Financial crisis of 2007–08

financial crisis of 2007–2008global financial crisis2008 financial crisis
Thus, the greater risk taking allowed by deregulation and encouraged by the bailout paved the way for the Financial crisis of 2007-2008.
US government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions.

Alfred E. Kahn

Alfred KahnAlfred Edward KahnKahn, Alfred
Cornell economist Alfred E. Kahn played a central role in both theorizing and participating in the Carter Administration's efforts to deregulate transportation.
At the same time the CAB was disbanded, as deregulation of commercial air fares made the agency no longer necessary.

Financial crisis

economic crisisfinancial criseseconomic crises
More recently, many financial crises followed changes in the investment environment brought about by financial deregulation, and the crash of the dot com bubble in 2001 arguably began with "irrational exuberance" about Internet technology.

Stranded costs

Stranded debtstranded
In discussions of electric power generation deregulation, stranded costs represent a public utility's existing infrastructure investments that may become redundant after substantial changes in regulatory or market conditions.

Savings and loan crisis

savings and loan scandalS&L crisisU.S. Savings and Loan Crisis
The greater risk taking caused a series of financial crises, including the savings and loan crisis, the Long-Term Capital Management (LTCM) crisis, each of which necessitated major bailouts, and the derivatives scandals of 1994.

Control fraud

William K. Black claims that inappropriate deregulation helped create a criminogenic environment in the savings and loan industry, which attracted opportunistic control frauds like Charles Keating, whose massive political campaign contributions were used successfully to further remove regulatory oversight.
Opportunistic control frauds, by contrast, are attracted to a criminogenic environment where it is harder to detect fraud, e.g., as a result of deregulation.

Economic liberalization

economic liberalisationliberalizationliberalise
Critics of economic liberalisation and deregulation cite the benefits of regulation, and believe that certain regulations do not distort markets and allows companies to continue to be competitive, or according to some, grow in competition.
Of course, this bears the risk that this barrier to entry will dissuade international competitors from entering the market (see Deregulation).

Public service company

public service companiespublic service and utility companies
Under concepts of deregulation, many principles under which public service companies have long operated are negated and replaced by those of a competitive market.

Charles Keating

Charles Keating Jr.Charles Keating, Jr.Charles H. Keating Jr.
William K. Black claims that inappropriate deregulation helped create a criminogenic environment in the savings and loan industry, which attracted opportunistic control frauds like Charles Keating, whose massive political campaign contributions were used successfully to further remove regulatory oversight.
Savings and loan associations had been deregulated in the early 1980s, allowing them to make high-risk investments with their depositors' money, a change of which Keating and other savings and loan operators took advantage.