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Deregulate refers to the process of reducing or eliminating government regulations and restrictions on an industry or sector. This can involve removing rules that dictate how businesses operate, aiming to promote free market competition and encourage innovation. However, deregulation can also raise concerns about potential negative effects on consumer protection, safety, and environmental standards.

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1w ago

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Governments are told to follow two paths. First, deregulate and privatise. This has been pursued in over 90 countries through structural adjustment policies of the World Bank and International Monetary Fund. The bitter legacy is growing poverty in all regions of the developing world, except China. Second, leave business to regulate itself. Corporations have promised to adopt voluntary ethical standards in response to growing public concern over social and environmental damage. But these have often been a public relations exercise to deflect criticism and the few companies that are implementing these standards compete at a disadvantage to the majority of companies that don't. Governments are told to follow two paths. First, deregulate and privatise. This has been pursued in over 90 countries through structural adjustment policies of the World Bank and International Monetary Fund. The bitter legacy is growing poverty in all regions of the developing world, except China. Second, leave business to regulate itself. Corporations have promised to adopt voluntary ethical standards in response to growing public concern over social and environmental damage. But these have often been a public relations exercise to deflect criticism and the few companies that are implementing these standards compete at a disadvantage to the majority of companies that don't.