Tuesday, November 4, 2008
Deregulation supporters say it has led to more efficient and innovative businesses, but others say it has led to higher prices and poor service. The move for deregulation really took off in the 70’s/80’s and this was supposed to bring great changes in industries such as airlines, banking, financial services, trucking, railroads, electricity suppliers, and telecommunications. The American public will have to determine if this effort by government representatives has produced the desired results in any of these industries or made matters worse or made any change at all. Have we had lost jobs, higher prices, fewer choices, and poor service? Is deregulation responsible in part for the economic conditions we face today? Are our political representatives asleep at the wheel? Should government be striving for a more balanced regulation situation? Yes, nobody can predict the exact outcome, but current conditions would seem to indicate things have gone wrong somewhere along the line. Maybe it is time to evaluate the results in certain areas and consider making some changes. Consider the numerous problems that have occurred in more than one industry over the last 20 years. A complete overhaul of deregulation might not be called for, but it is evident that some changes would be desirable.