The conversation between human and AI assistant.
What is meant by deregulation of an industry or a market?
Can you give me an example of an industry that has been deregulated?
The trucking industry in the US was one of the first industries to be deregulated in the late 1970s. Before deregulation, the government set prices and routes for trucking companies. After deregulation, trucking companies were able to set their own prices and routes, leading to increased competition and lower prices for consumers.