deregulation
n.the act of removing government rules and controls from a business or industry. This is usually done to help companies compete more easily.
n.the reduction or elimination of government power in a particular industry, usually enacted to create more competition within the economy. Often associated with neoliberal economic policy.
“The deregulation of the airline industry led to lower ticket prices.”
“Economists argue whether the deregulation of the banking sector contributed to the recent financial crisis.”
“Proponents of deregulation claim that removing bureaucratic hurdles fosters innovation, while critics warn that it can lead to a lack of oversight and consumer exploitation.”
Often used in political and economic contexts. It frequently appears in the phrase 'the deregulation of' followed by a specific industry.
“This became the ideology of neoliberalism, which advocated a smaller state, industry deregulation, tax cuts, strengthened defence, and roll-back of social engineering.”
“US calls for deregulation of AI at a G20 ministerial meeting, emphasising industry growth over regulatory constraints.”
From de- + regulation.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.