Deregulation
Removing or reducing state regulations
Real World Example
During the period of 1980-1993, deregulation was an important concept in Conservatism, especially under leaders like U.S. President Ronald Reagan. It involved reducing government controls and regulations on businesses, which was believed to encourage economic growth and innovation. This approach responded to concerns that excessive regulations were stifling businesses and leading to inefficiencies. Today, deregulation continues to impact everyday life by affecting things like airline prices, where fewer regulations can lead to more competition and lower ticket costs for travelers. However, it can also lead to fewer safety checks, meaning it's crucial to find a balance to ensure consumer protection while promoting business freedom.
