Freeing Markets
Policy actions that can be taken to free up markets or simulate their actions in three different ways.
1. Deregulation. This is the removal or revision of government policies that prevent the market from working fairly or efficiently.
2. Legalization. This is the removal of legal penalties from the market with respect to certain actions and services that can be performed. It can be due to the government pursuing tax revenues from the activities, a change in social attitudes, or the ineffectiveness of the law (ex. Prohibition)
3. Privatization. Government allowing private organizations to take over the operation some of its enterprises or relaxing restrictions that prevent competition between government and privately owned activities.