liberalization
n.n. the process of making a system or market less strict. It usually means removing rules or taxes to allow more freedom for businesses and people.
n. the process of reducing government intervention in an economy or society, typically by removing restrictions or tariffs. Often refers to the removal of legal or financial barriers to facilitate free trade or personal choice.
The liberalization of the market led to lower prices for consumers.
Economists argue that the liberalization of the airline industry increased competition and improved safety standards across the region.
The gradual liberalization of the telecommunications sector allowed private companies to enter the market, ultimately leading to a significant expansion of high-speed internet access in rural areas.
From liberalize + -ation or liberal + -ization.