Deregulation is the removal or simplification of government rules and regulations that constrain the operation of market forces.^[1] Deregulation does not mean elimination of laws against fraud, but eliminating or reducing government control of how business is done, thereby moving toward a more free market A free market is a transaction mechanism that economists use to describe a market which is free from government intervention . Within the ideal free market, property rights are voluntarily exchanged at a price arranged solely by the mutual consent of sellers and buyers. By definition, buyers and sellers do not coerce each other, in the sense that.

Overview

The stated rationale for 'deregulation' is often that fewer and simpler regulations will lead to a raised level of competitiveness, therefore higher productivity Productivity refers to metrics and measures of output from production processes, per unit of input. Labor productivity, for example, is typically measured as a ratio of output per labor-hour, an input. Productivity may be conceived of as a metrics of the technical or engineering efficiency of production. As such quantitative metrics of input, and, more efficiency and lower prices overall.

Deregulation is different from liberalization In general, liberalization refers to a relaxation of previous government restrictions, usually in areas of social or economic policy. Liberalization of autocratic regimes may precede democratization (or not, as in the case of the Prague Spring) because a liberalized market, while often having fewer and simpler regulations, can also have regulations in order to increase efficiency and protect consumers Consumer is a broad label that refers to any individuals or households that use goods and services generated within the economy. The concept of a consumer is used in different contexts, so that the usage and significance of the term may vary' rights Rights are entitlements or permissions, usually of a legal or moral nature. Rights are of vital importance in the fields of law and ethics, especially theories of justice and deontology, one example being anti-monopoly legislation In economics, a monopoly exists when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it. Monopolies are thus characterized by a lack of economic competition for the good or service that they provide and a lack of. However, the terms are often used interchangeably within deregulated/liberalized industries.

A parallel development with 'deregulation' has been organized, ongoing programs to review regulatory initiatives with a view to minimizing, simplifying, and making more cost effective regulations. Such efforts, given impetus by the Regulatory Flexibility Act The Regulatory Flexibility Act is perhaps the most comprehensive effort by the U.S. federal government to balance the social goals of federal regulations with the needs and capabilities of small businesses and other small entities in American society of 1980, are embodied in the United States Office of Management and Budget's Office of Information and Regulatory Affairs, and the United Kingdom's Better Regulation Commission The Better Regulation Commission is as non-departmental public body of the British government, independent of any government department but under the oversight of Department for Business, Enterprise and Regulatory Reform. Its role, according to its Terms of Reference is "To advise the Government on action to reduce unnecessary regulatory and. Cost-benefit analysis Under both definitions the process involves, whether explicitly or implicitly, weighing the total expected costs against the total expected benefits of one or more actions in order to choose the best or most profitable option. The formal process is often referred to as either CBA or BCA (Benefit-Cost Analysis) is frequently used in such reviews. In addition, there have been regulatory innovations, usually suggested by economists, such as emissions trading Emissions trading is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. It is sometimes called cap and trade. Academic research on wedding economic theory with regulatory activity continues.

One can distinguish between deregulation and privatization Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector (business). In a broader sense, privatization refers to transfer of any government function to the private sector including governmental functions like revenue collection and law. Privatization can be seen as taking state-owned service providers into the private sector. This can result in making the privatized enterprise more subject to market forces than was the state-owned entity. But the degree to which there is freedom to operate in the market and the extent of competitiveness in the market for the goods and services of the privatized entity or entities may depend on other measures taken in addition to privatization.

In some instances, partial privatisation may be selected, where provision of some portion(s) of the state-owned service are provided by private-sector contractors, but the government retains the capacity to self-operate at contract intervals, if it so chooses. An example of partial privatization would be some forms of school bus service contracting A school bus contractor is a private company or proprietorship which provides school bus service to a school district or non-public school. Of 450,000 school buses operating in the United States, it is estimated that approximately 39% are operated by school bus contractors. In Canada and the United Kingdom, almost all school transportation is, such as arrangements where equipment and other resources purchased with government capital funds are used by the contractor for a period of time in providing services, but ownership is retained by the governmental unit. In such situations the arrangement can be seen as a sort of contracting out of functions for which the government takes responsibility.

One influential measure of worldwide business regulations that has inspired mostly deregulation but also in some instances increased regulations is the Ease of Doing Business Index The Ease of Doing Business Index is an index created by the World Bank. Higher rankings indicate better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work claims to show that the effect of improving these regulations on economic growth is.

By country

Argentina

Argentina Argentina, officially the Argentine Republic , is a country in South America, constituted as a federation of 23 provinces and an autonomous city, Buenos Aires. It is the second largest country in South America and eighth in the world by land area and the largest among Spanish-speaking nations, though Mexico, Colombia and Spain are more populous underwent heavy economic deregulation, privatization Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector (business). In a broader sense, privatization refers to transfer of any government function to the private sector including governmental functions like revenue collection and law, and had a fixed exchange rate In finance, the exchange rates between two currencies specifies how much one currency is worth in terms of the other. It is the value of a foreign nation’s currency in terms of the home nation’s currency. For example an exchange rate of 102 Japanese yen (JPY, ¥) to the United States dollar (USD, $) means that JPY 102 is worth the same as USD 1 during the Menem Carlos Saúl Menem Akil , usually known simply as Carlos Menem, was President of Argentina from July 8, 1989 to December 10, 1999 for the Justicialist Party (Peronist). His parents were immigrants from Syria administration (1989–1999).

Australia

Australia Australia , officially the Commonwealth of Australia, is a country in the southern hemisphere comprising the mainland, which is both the world's smallest continent and the world's largest island, the island of Tasmania, and numerous other islands in the Indian and Pacific Oceans.N4 It is the only area of land simultaneously considered a continent, was an early leader in deregulation with a broad program of deregulation beginning in the early 1980s. Having announced a wide range of deregulatory policies, Labor Prime Minister Bob Hawke Robert James Lee Hawke, AC (born 9 December 1929) was the 23rd Prime Minister of Australia and longest serving Australian Labor Party Prime Minister announced the policy of 'Minimum Effective Regulation' in 1986. This introduced now familiar requirements for 'regulatory impact statements' but it took many years before the policy was complied with by government agencies. Australia experienced deregulation of their labour market during the late 1980s under Hawke/Keating Labor government's. The country saw extensive deregulation of the labour market beginning in 2005 under John Howard John Winston Howard, AC was the 25th Prime Minister of Australia from 11 March 1996 to 3 December 2007. He is the second-longest serving Australian Prime Minister after Sir Robert Menzies's Liberal Party of Australia Founded a year after the 1943 federal election to replace the United Australia Party, the centre-right Liberal Party competes with the centre-left Australian Labor Party for political office. When in government it traditionally governs in a coalition with the National Party through their WorkChoices policy. However it was reversed under the following Rudd Labor government. In 2007, the Rudd Labor Government The First Rudd Ministry of the Rudd Government is the 65th Australian ministry. The ministry was sworn in on 3 December 2007 by the Governor-General Major-General Michael Jeffery. A reshuffle occurred in June 2009 promised extensive deregulation, particularly in the business sector, appointing Lindsay Tanner Minister for Finance and Business Deregulation.

Canada

Natural gas is deregulated in most of the country, with the exception of some Atlantic provinces and some pockets like Vancouver Island. Most of this deregulation happened in the mid 1980s.^[2]

The province of Ontario Ontario is a province located in east-central Canada, the largest by population and second largest, after Quebec, in total area. (Nunavut and the Northwest Territories are larger but are not provinces.) Ontario is bordered by the provinces of Manitoba to the west and Quebec to the east, and the U.S. states (from west to east) of Minnesota, began deregulation of electricity supply in 2002, but pulled back temporarily due to voter and consumer backlash at the resulting price volatility^[2]. The government is still searching for a stable working regulatory framework. See Ontario electricity policy for more.

The current status is a partially regulated structure in which consumers received a capped price for a portion of the publicly owned generation. The remainder of the price is market price based and there are numerous competitive energy contract providers. There is price comparison service On the internet, a price comparison service allows individuals to see different lists of prices for specific products. Most price comparison services do not sell products themselves, but source prices from retailers from whom users can buy. In the UK, these services made between £120m and £140m in revenue in 2005 , and is growing at an annual operating in these jurisdictions.

The province of Alberta Alberta is one of Canada's prairie provinces. It became a province on September 1, 1905 has deregulated their electricity provision. Customers are free to choose which company they sign up with, but there are few companies to choose from and the price of electricity has increased substantially for consumers because the market is too small to support competition.

Former Premier Ralph Klein based the entire deregulation scheme on the Enron model, and continued with it even after the highly publicized and disastrous collapse of Enron because of illegal accounting practices.

Related Legislation

• 2002 - Ontario Bill 210- Electricity Supply, Pricing and Conservation Act

European Union

• 2003 Corrections to EU directive about software patents A patent is a set of exclusionary rights granted by a state to a patent holder for a limited period of time, usually 20 years. These rights are granted to patent applicants in exchange for their disclosure of the inventions. Once a patent is granted in a given country, no person may make, use, sell or import/export the claimed invention in that
• Deregulation of the air industry in Europe in 1992 gave carriers from one EU country the right to operate scheduled services between other EU states.

Republic of Ireland

The taxi industry was deregulated in Ireland leading to an influx of new taxis. This was due to the price of a licence dropping overnight. The number of taxis increased dramatically. This was good for the consumer and bad for the driver.

United Kingdom

The United Kingdom The United Kingdom of Great Britain and Northern Ireland is a sovereign state located off the northwestern coast of continental Europe. It is an island country, spanning an archipelago including Great Britain, the northeastern part of Ireland, and many small islands. Northern Ireland is the only part of the UK with a land border, sharing it with has developed a programme of better regulation since 1997. This has developed to include a general programme for government departments to review, simplify or abolish their existing regulations, and a "one in, one out" approach to new regulations. In 2006, new primary legislation is proposed (a Legislative and Regulatory Reform Bill) which is intended to establish statutory principles and a code of practice.^[3]

Japan

Since the economic bubble in 1990s collapsed, the Japanese government has seen deregulation as an effective way to lift its economy because it has a huge deficit and cannot make a large tax cut The immediate effects of a tax cut are, generally, a decrease in the real income of the government and an increase in the real income of those whose tax rate has been lowered. In the longer term, however, the effect on government income may be reversed, depending on the response that tax-payers make. Depending on the original tax rate, tax cuts.

New Zealand

New Zealand New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses , and numerous smaller islands, most notably Stewart Island/Rakiura and the Chatham Islands. The indigenous Māori named New Zealand Aotearoa, commonly translated as The Land of the Long White Cloud. The Realm of New Zealand also includes the Cook has had extensive deregulation since 1984. Originally instigated by the Labour Party The New Zealand Labour Party is a New Zealand political party. It describes itself as centre-left and socially liberal, and Progressive, and has been one of the two primary parties of New Zealand politics since 1935, it was later continued by the erstwhile opposition National Party. As a result, New Zealand, from having a reputation as an almost socialist country, is considered one of the most business-friendly countries of the world, next to Singapore. However, critics charge that the deregulation has brought little benefit to some sections of society, and has caused much of New Zealand's economy (including almost all of the banks) to become foreign-owned.

Russia

Russia Russia (pronounced /ˈrʌʃə/ ; Russian: Россия, pronounced [rʌˈsʲijə]), officially known as both Russia and the Russian Federation(Russian: Российская Федерация​ (help·info), Rossiyskaya Federatsiya), is a country in northern Eurasia (Europe and Asia together). It is a semi-presidential republic, comprising 83 went through wide-ranging deregulation (and concomitant privatization Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector (business). In a broader sense, privatization refers to transfer of any government function to the private sector including governmental functions like revenue collection and law) efforts in the late 1990s under Yeltsin, now partially reversed under Putin. The main thrust of deregulation has been the electricity sector (see Unified Energy System The Unified Energy System was an electric power holding company in Russia. It owned about 70% of Russia's installed electric capacity, 96% of high-voltage grid and over 70% of transmission lines. In addition to the Russian market, RAO UES exported electricity to the CIS and Scandinavia. The last head of RAO UES was Anatoly Chubais), with railroads and communal utilities tied in the second place.^{[citation needed]} Deregulation of the natural gas sector (Gazprom OAO Gazprom is the largest extractor of natural gas in the world and the largest Russian company) is one of the more frequent demands placed upon Russia by the United States The United States of America is a federal constitutional republic comprising fifty states and a federal district. The country is situated mostly in central North America, where its forty-eight contiguous states and Washington, D.C., the capital district, lie between the Pacific and Atlantic Oceans, bordered by Canada to the north and Mexico to the and European Union The European Union is an economic and political partnership among 27 member states primarily in Europe that is committed to regional integration. It was established by the Treaty of Maastricht on 1 November 1993, upon the foundations of the pre-existing European Economic Community. With a population of almost 500 million, the EU generates an.

United States

History of regulation

Many industries in the United States The United States of America is a federal constitutional republic comprising fifty states and a federal district. The country is situated mostly in central North America, where its forty-eight contiguous states and Washington, D.C., the capital district, lie between the Pacific and Atlantic Oceans, bordered by Canada to the north and Mexico to the became regulated by the federal government in the late 19th and early 20th century. Entry to some markets was restricted in order to stimulate and protect the initial investment of private companies into infrastructure to provide "public" services, such as water, electric and communications utilities. With entry of competitors highly restricted, monopoly In economics, a monopoly exists when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it. Monopolies are thus characterized by a lack of economic competition for the good or service that they provide and a lack of situations were created, necessitating price and economic controls to protect the public. Other forms of regulation were motivated by what was seen as corporate abuse of the public interest by businesses already extant, such as occurred with the railroads Rail transport is the conveyance of passengers and goods by means of wheeled vehicles running along railways in British and Australian English . Railway transport is part of the logistics chain, which facilitates international trade and economic growth. Rail transport is capable of high capacity and is energy efficient, but lacks flexibility and following the era of the so-called robber barons Robber baron is a term that revived in the 19th century in the United States as a reference to businessmen and bankers who dominated their respective industries and amassed huge personal fortunes, typically as a direct result of pursuing various anti-competitive or unfair business practices. The term may now be used in relation to any businessman. In the first instance, as markets matured to where multiple providers could be financially viable offering similar services, prices determined by competition were seen as more favorable than those set by regulatory process.

One problem that encouraged deregulation was the way in which the regulated industries often controlled the government regulatory agencies Regulation refers to "controlling human or societal behaviour by rules or restrictions." Regulation can take many forms: legal restrictions promulgated by a government authority, self-regulation, social regulation , co-regulation and market regulation. One can consider regulation as actions of conduct imposing sanctions (such as a fine), using them to serve the industries' interests. Even where regulatory bodies started out functioning independently, a process known as regulatory capture Regulatory capture is a term used to refer to situations in which a government regulatory agency created to act in the public interest instead acts in favor of the commercial or special interests that dominate in the industry or sector it is charged with regulating. Regulatory capture is a form of government failure, as it can act as an often sees industry interests come to dominate those of the consumer. A similar pattern has been observed with the deregulation process, itself often effectively controlled by the regulated industries through lobbying the legislative process. Such political forces, however, exist in many other forms for other "special interest" groups.

During the Progressive Era (c.1901-1921), Presidents Theodore Roosevelt Theodore D. Roosevelt , also known as T.R., and to the public (but never to friends and intimates) as Teddy, was the 26th President of the United States. A leader of the Republican Party and of the Progressive Party, he was a Governor of New York and a professional historian, naturalist, explorer, hunter, author, and soldier. He is most famous for, William Howard Taft William Howard Taft was the 27th President of the United States and the 10th Chief Justice of the United States, and Woodrow Wilson Thomas Woodrow Wilson, Ph.D. was the 28th President of the United States. A leading intellectual of the Progressive Era, he served as President of Princeton University from 1902 to 1910, and then as the Governor of New Jersey from 1911 to 1913. With Theodore Roosevelt and William Howard Taft dividing the Republican Party vote, Wilson was elected instituted regulation on parts of the American economy, most notably in regulating big business and industry. Some of their most prominent reforms are trust-busting Trust-busting is any government activity designed to break up trusts or monopolies. Theodore Roosevelt is the U.S. president most associated with dissolving trusts. However, William Howard Taft signed twice as much trust-busting legislation during his presidency (the destruction and banning of monopolies In economics, a monopoly exists when a specific individual or an enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it. Monopolies are thus characterized by a lack of economic competition for the good or service that they provide and a lack of), the creation of laws protecting the American consumer Consumerism is the equation of personal happiness with consumption and the purchase of material possessions, the creation of a federal income tax (by the Sixteenth Amendment; the income tax used a progressive tax structure with especially high taxes on the wealthy), the establishment of the Federal Reserve, and the institution of shorter working hours, higher wages, better living conditions, better rights and privileges to labor unions, protection of rights of strikers, banning of unfair labor practices, and the delivery of more social services to the working-classes and economic safety nets to many unemployed workers, thus helping to facilitate the creation of a welfare state in the United States and eventually in most developed countries.

During the Presidencies of Warren Harding (1921-1923) and Calvin Coolidge (1923-1929), the federal government generally pursued laissez-faire economic policies After the onset of the Great Depression, President Franklin Roosevelt implemented many economic regulations, including the National Industrial Recovery Act (which was stricken down by the Supreme Court), regulation of trucking, airlines and the communications industry, the institution of the Securities and Exchange Act, and the Glass-Steagall Act, which was passed in 1933. These 1930’s regulations stayed largely in place until Richard Nixon's Administration.^[4] In supporting his competition-limiting regulatory initiatives President Roosevelt blamed the excesses of big business for causing an unstable bubble-like economy. However, historians lack consensus in describing the causal relationship between various events and the role of government economic policy in causing or ameliorating the Depression. See Great Depression and Causes of the Great Depression.

Deregulation 1970-2000

'Deregulation' gained momentum in the 1970s, influenced by research at the University of Chicago and the theories of Ludwig von Mises, Friedrich von Hayek, and Milton Friedman, among others. 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. Alfred E. Kahn played an unusual role in both publishing as an academic and participating in the Carter Administration's efforts to deregulate transportation.

The first comprehensive proposal to "deregulate" a major industry in the United States, transportation, originated in the Richard Nixon Administration and was forwarded to Congress in late 1971. ^[5] This proposal was initiated and developed by an interagency group in which the Council of Economic Advisors (represented by Hendrik Houthakker and Thomas Gale Moore), the White House Office of Consumer Affairs (represented by Jack Pearce), The Department of Justice, the Department of Transportation, The Department of Labor, and other agencies participated (Rose, et al., pp 152–160).

The proposal addressed both rail and truck transportation, but not air carriage. (92d Congress, Senate Bill 2842) The developers of this legislation in this Administration sought to cultivate support from commercial buyers of transportation services, consumer organizations, economists, and environmental organization leaders. (Rose, et al., pp 154–156) This 'civil society' coalition became a template for coalitions influential in efforts to deregulate trucking and air transport later in the decade.

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, Pub. L. 94-210. 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).

These were the major "deregulation" acts in transportation. They set the general conceptual and legislative framework which has replaced the regulatory systems put in place between the 1887 and the 1930s. The dominant common theme of these Acts, as evidenced in the articles individually treating these Acts in this encyclopedia, was to lessen Barriers to entry in transport markets and promote more independent, competitive pricing among transport service providers, substituting the freed-up competitive market forces for detailed regulatory control of entry, exit, and price making in transport markets. Thus the term 'deregulation' arose, though regulations to promote competition were put in place.

A series of enactments were needed substantially to work out the process of encouraging competition in transportation. Interstate buses were addressed in 1982, in the Bus Regulatory Reform Act of 1982. Freight forwarders (freight aggregators) got more freedoms in the Surface Freight Forwarder Deregulation Act of 1986. As many states continued to regulate the operations of motor carriers within their own state, the intrastate aspect of the trucking and bus industries was addressed in the Federal Aviation Administration Authorization Act of 1994, which provided that "a State, political subdivision of a State, or political authority of 2 or more States may not enact or enforce a law, regulation, or other provision having the force and effect of law related to a price, route, or service of any motor carrier." 49 U.S.C. 14501(c)(1) (Supp. V 1999).

Ocean transportation was the last to be addressed. This was done in two steps, the Ocean Shipping Act of 1984 and the Ocean Shipping Reform Act of 1998. These acts were less thoroughgoing than the legislation dealing with U.S. domestic transportation, in that they left in place the "conference" system in international ocean liner shipping, which historically embodied cartel mechanisms. However, these acts permitted independent rate making by conference participants, and the 1998 Act permitted secret contract rates, which tend to undercut collective carrier pricing. According to the United States Federal Maritime Commission, in an assessment in 2001, this appears to have opened up substantial competitive activity in ocean shipping, with beneficial economic results.

The Emergency Natural Gas Act (signed February 2, 1977) was a mix of regulation in response to OPEC price hikes and deregulation and the 1973 oil crisis in the U.S. The Airline Deregulation Act is also a notable example. Its reintroduction of competitive market forces to the heavily regulated commercial airline industry was highly successful.

Communications in the United States (and internationally) is an area in which both technology and regulatory policy have been in flux. Rapid development of computer and communications technology – particularly the internet – have increased the size and variety of communications offerings. One can see an emerging era in which wireless, traditional landline telephone, and cable companies increasingly invade each others’ traditional markets and compete across a broad spectrum. The Federal Communications Commission and Congress appear to be attempting to facilitate this evolution. In mainstream economic thinking, development of this competition would militate against detailed regulatory control of prices and service offerings, and hence favor ‘deregulation’ as to prices and entry into markets. See for this line of thinking Crandall, “Competition and Chaos – U.S. Telecommunications Since the 1996 Telecom Act”, Brookings Institute, 2005. On the other hand, there exists substantial concern about concentration of media ownership resulting from relaxation of historic controls on media ownership designed to safeguard diversity of viewpoint and open discussion in the society, and about what some perceive as high prices in cable company offerings at this point. See for further development of this area Telecommunications Act of 1996 and Concentration of media ownership.

The financial sector in the U.S. has evolved a great deal in recent decades, during which there have been some regulatory changes and the creation of new financial products such as the ‘securitization’ of loan obligations of various sorts and ‘credit default swaps’. Among the most important of the regulatory changes was the Gramm-Leach-Bliley Act in 1999, which repealed the parts of the Glass-Steagall Act which had not already been repealed. This 1999 Act took down barriers to competition between traditional banks, investment banks, and insurance companies, and allowed firms to participate in all three markets in some circumstances.

Some have argued that this ‘deregulation’ contributed to the U.S. financial crisis of 2007-2009 and the Global financial crisis of 2008-009. ^[6] However, others dispute this assertion, as the article in this encyclopedia on the Gramm-Leach-Bliley Act points out, and a lively debate on the causes of financial crisis is under way at this time. ^[7]

Related Legislation

• 1976 - Hart-Scott-Rodino Antitrust Improvements Act PL 94-435
• 1977 - Emergency Natural Gas Act PL 95-2
• 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 - Regulatory Flexibility Act PL 96-354
• 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

Controversy

The deregulation movement of the late 20th century had substantial economic effects and engendered substantial contoversy. As preceding sections of this article indicate, the movement was based on intellectual perspectives which prescribed substantial scope for market forces, and opposing perspectives have been in play in national and international discourse.

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.

For deregulation

Adam Thierer wrote, "The first step toward creating a free market in electricity is to repeal the federal statutes and regulations that hinder electricity competition and consumer choice."^[8]

Against deregulation

"Electricity deregulation was supposed to bring cheaper electricity prices and more choice of suppliers to householders. Instead it has brought wildly volatile wholesale prices and undermined the reliability of the electricity supply."^[9]

See also

• Economic liberalization
• Public service company
• Electricity provider switching
• Stranded costs

References

1. ^ Sullivan, Arthur; Sheffrin, Steven M. (January 2002). Economics: Principles in Action. New Jersey: Pearson Prentice Hall. ISBN 0-13-063085-3.
2. ^ ^{a b} "A Funny Thing happened On the Way to Utopia", Ontario Electricity Restructuring, Public Interest Advocacy Centre, 11 November 2002, http://www.piac.ca/energy/ontario_electricity_restructuring/, retrieved on 2009-04-26
3. ^ Sansom B, "Integrating Deregulation" http://www.sansomnia.com
4. ^ http://www.encyclopedia.com/doc/1G1-16514254.html
5. ^ Rose, Seely and Barrett, Tracey (2006). "The Best Transportation System in the World". from the selected National Archive White House Files. University of Ohio State Press. http://www.ohiostatepress.org/index.htm?books/book%20pages/rose%20best.html. Retrieved on 2008-01-12.
6. ^ http://www.rollingstone.com/politics/story/26793903/the_big_takeover
7. ^ See for example the Wall Street Journal Opinion Page, March 21, pA13, which discusses various contentions that a global capital excess, poor bond raters, mortgage fraud, regulators disinclined to regulate, poor decisions by the Federal Reserve, and/or the Community Reinvestment Act led to the crisis.
8. ^ Thierer, Adam D. (13 April 1998), A Five-Point Checklist For Successful Electricity Deregulation Legislation, Heritage Foundation, http://www.heritage.org/research/energyandenvironment/bg1169.cfm, retrieved on 2009-04-26
9. ^ Beder, Sharon (3rd quarter 2003), "The Electricity Deregulation Con Game", PR Watch (Center for Media and Democracy) 10 (3), http://www.prwatch.org/prwissues/2003Q3/dereg.html, retrieved on 2009-04-26

• Barnum, John W. "What Prompted Airline Deregulation 20 Years Ago?," Presentation to the Aeronautical Law Committee of the Business Law Section of the International Bar Association, September 15, 1998. Available at [1]
• Crandall,Robert “Competition and Chaos – U.S. Telecommunications Since the 1996 Telecom Act”, Brookings Institute, 2005.
• Derthick and Quirk, The Politics of Deregulation, Brookings Institution, 1985.
• Kahn, Alfred E. "Airline deregulation" in Concise Encyclopedia of Economics.
• Moore, Thomas Gale. "Rail and Truck Reform: The Record So Far." Regulation. November/December 1988.
• Robyn, Dorothy, Braking the Special Interests, University of Chicago Press, 1987

External links

• Crews, Clyde Wayne (28 February 2000), Jump, Jive an’ Reform Regulation: How Washington Can Take a Swing at Regulatory Reform, Competitive Enterprise Institute, http://www.cei.org/gencon/025,01722.cfm, retrieved on 2009-04-26
• Powering a Generation of Change, Smithsonian Institution, http://americanhistory.si.edu/powering/, retrieved on 2009-04-26
• Zhuravskaya, Ekaterina; Yakovlev, Evgeny (14 March 2008), Deregulation of Business], Social Science Research Network, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=965838, retrieved on 2009-04-26
• Nachshon Draiman CEO (2000), The deregulation of the natural gas industry and other utilities, Multiut, http://www.multiut.com/article.htm, retrieved on 2009-04-26
• Nachshon Draiman CEO, http://www.multiut.net/energy fraud, retrieved on 2009-04-26
• Doing Business project, World Bank, http://www.doingbusiness.org, retrieved on 2009-04-26
• Regulation: From Economic Deregulation to Safety Regulation, Federal Highway Administration, 8 November 2006, http://ops.fhwa.dot.gov/freight/theme_papers/final_thm8_v4.htm, retrieved on 2009-04-26 . This comprehensive study indicating, among other things, that transport deregulation reduced distribution costs in the United States from about 14% of gross domestic product to under 11% (If this measure is selected, current dollar savings can be calculated by multiplying current GDP by @3%).^{[Misplaced in article]}

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