The Causes and Effects of Deregulation

Beginning with railroad regulation in 1887 and continuing for eight decades, the U.S. Federal Government expanded its regulatory scope to cover key transportation, telecommunications and energy sectors. In the last quarter of the 20th century this long-term trend was abruptly and dramatically reversed as important sectors of the U.S. economy were deregulated. This Research Review introduces the causes and effects of this process, and the political and economic forces behind the elimination of regulatory authority.