b) Railroad deregulation

The Staggers Rail Act of 1980 addressed the economic issue of railroad deregulation in the United States. Prior to this act, the rail industry was heavily regulated, leading to inefficiencies and financial difficulties. The Staggers Rail Act significantly reduced federal control, allowing railroads more freedom to set rates and make service agreements. This deregulation led to a revitalization of the rail industry, marked by improved efficiency, lower costs, and increased competition. The act is considered a successful example of deregulation, demonstrating how reducing government intervention can benefit an industry while still maintaining essential oversight.