ABSTRACT
The 1980s was a decade in which conservative philosophy and dogma were reasserted in the United States and the power of the state was openly and conspicuously used to support the interests of corporate America. Deregulation, the clarion call of conservatives, led to a reduction in government regulations in many parts of the economy and a moratorium on the introduction of new regulations. 1 The rhetoric of deregulation was laced with calls to “reduce government influence” and “let the market take care of business.” Prior to adopting or issuing major rules, agencies were also required to submit a cost impact study to the Office of Management and Budget (OMB). This had the effect of reducing the level of open discussion about the impact of proposed regulations on business, which primarily benefited the sectors subject to government regulation. 2 There also occurred a relaxation of rules on corporate mergers and acquisitions that encouraged a level of speculative investment not seen in sixty years. 3
