In today’s political discourse, deregulation like “reform” is almost invariably treated as a good thing. Deregulation means less bureaucratic meddling, and fewer rules and regulations to stifle innovation and commerce. This inflected usage puts those on the left in an awkward position, since opposing deregulation seems to imply a desire for more rules and regulations, and therefore more men in gray suits standing in the way of freedom. But this debate is based on false premises. There’s no such thing, for example, as an unregulated bank. Banks are institutions to which the Govt has granted the right to issue I.O.U.’s that it will recognize as legal tender. Govt regulates everything from a bank’s reserve requirements to its hours of operation; how much can be charged in interest, fees, and penalties; what sort of security precautions can or must be employed etc,,, . – David Graeber
David Graeber with the best take on deregulation.
Markets are all created to some extent by Govt regulation. They set the rules of profit extraction. Deregulation isn't a step back, but a change to who they've decided to reward
