deregulation
Action to abolish or reduce government controls and supervision over private economic activities, with the aim of improving competitiveness. This may lead to an increase in company mergers and acquisitions, but also bankruptcies. A wider array of services and lower prices in some industries may also result; see also monetarism; privatization.
The financial and transport sectors have been extensively deregulated in the UK, USA, and other countries in recent decades.
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