Deregulation

Deregulation involves reducing or removing government rules and restrictions in specific industries or markets. The goal is to promote competition, increase efficiency, and foster innovation by allowing businesses more freedom to operate without heavy oversight. While it can lead to lower costs and more choices for consumers, it also requires careful management to prevent negative outcomes like monopolies or reduced safety standards. Overall, deregulation aims to create a more flexible economic environment where markets can respond more quickly to changes and opportunities.