Deregulating commerce

Deregulating markets
Encouraging trade competition
Removing government rules and guidelines about pricing from industries in order to create better services and lower costs in a more competitive environment.
In the 1980s state-owned or protected monopolies and enterprises were broken-up or turned over to private ownership in several countries.
With little competition amongst government-regulated industries, corporations have no incentive to cut costs. Deregulation transforms high-cost protected companies into lean, formidable competitors.
Counter Claim:
To remain competitive, firms must cut costs by laying off employees or become more dependent upon state subsidies, thereby increasing unemployment and use of tax money.
Type Classification:
D: Detailed strategies
Related UN Sustainable Development Goals:
GOAL 10: Reduced Inequality