| Scope and method of study. An economic analysis of the deregulation of major industries is developed using a methodology applied to the rise and decline of eighteenth century English mercantilism. Theories of rent-seeking and the economics of regulation are applied to the deregulatory period and contrasted with ideological explanations. Findings and conclusions. The analysis reveals that deregulation of airlines, trucking and telecommunications can be reconciled with economic theory. A decline in economic rents along with uncertainty regarding the durability of rents and regulation and the rising costs of rent-seeking contributed to the removal of price and entry restrictions in these industries. |