Why I defend NAFTA on DU, in four charts

[NewDeal_Dem]

289. Reagan expanded the Carter administration's efforts to decontrol and deregulate the economy.

Congress deregulated the banking and natural gas industries and lifted ceilings on interest rates. Federal price controls on airfares were lifted as well. The Environmental Protection Agency relaxed its interpretation of the Clean Air Act; and the Department of the Interior opened up large areas of the federal domain, including offshore oil fields, to private development.

The results of deregulation were mixed. Bank interest rates became more competitive, but smaller banks found it difficult to hold their own against larger institutions. Natural gas prices increased, as did production, easing some of the country's dependence on foreign fuel. Airfares on high-traffic routes between major cities dropped dramatically, but fares for short, low-traffic flights skyrocketed. Most critics agreed, however, that deregulation had restored some short-term competition to the marketplace. Yet in the long-term, competition also led to increased business failures and consolidation.

http://www.digitalhistory.uh.edu/disp_textbook.cfm?smtID=2&psid=3367