Deregulation
/ˌdiːˌreɡjəˈleɪʃən/
Definitions
The act of removing or reducing governmental rules and controls, typically in a business or industry.
/ˌdiːˌreɡjəˈleɪʃən/
The act of removing or reducing government regulations.
The government's move towards deregulation was intended to stimulate economic growth.
💡 Simply: Imagine the government having rules about how companies can do things. Deregulation is when they decide to take away some of those rules, letting companies have more freedom. It’s like when a teacher says, “Okay, no more rules about where you can sit!”
👶 For kids: It means taking away rules. Like if there were rules about when you could play outside, deregulation would mean getting rid of some of those rules!
More Examples
Critics of deregulation argue it can lead to a decline in consumer protections.
Many countries have implemented deregulation policies to attract foreign investment.
How It's Used
"The deregulation of the airline industry led to increased competition and lower fares."
"Political debates often center on the merits of deregulation versus the need for government oversight."
"Financial deregulation in the 1980s had a significant impact on the global economy."
From 'de-' (reversal) + 'regulation' (rule). Emerged in the late 20th century, primarily in economics and politics, as a term for reducing governmental controls over industries and businesses.
The term gained prominence in the late 20th century, particularly in the context of neoliberal economic policies. Significant deregulation initiatives occurred in the United States and the United Kingdom during this period.
Memory tip
Think of DE-regulating as removing the REGULATION rules. It's a DE-cision to loosen the controls.
Practice
Word Origin
Root: regula (rule)