Regulation in the business world has very negative connotations, in general, as it does in politics and the editorial pages. But some regulations are both sensible and in the public's and consumers' best interest.
Deregulating the energy and utilities markets led to profiteering, and indirectly, to the rolling blackouts early in the decade and the Enron meltdown. The resource became both expensive and unreliable.
Another reason in favor of regulation is that it can prevent the extremes in the marketplace. It can prevent economic meltdowns in specific sectors like banking or the stock market, while still allowing for profit and business to take place. The removal of some of those restraints with the expiration of the Glass-Steagall Act in 1999 led to the economic meltdown of 2007.
On the other hand, there are plenty of regulations that simply are too cumbersome and unnecessary. They hinder business opportunities, incentives to invest and put a damper on profits. That's not good for anyone, public or private. Deregulation does not have to mean the end of all regulations, but can also simply be a regular review of those legal limitations that no longer make sense.
Deregulation is attractive to investors and can bring in both foreign dollars to the stock market, the currency and the industrial and business world in a country. Therefore, in the middle of a national recession in the US, it makes sense that some regulations which stifle reasonable profit and trade should be removed.
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