"Repealing existing regulations" would not suddenly make the entrenched entities who grew powerful under the protection of those regulations vanish. Sure, you'

"Repealing existing regulations" would not suddenly make the entrenched entities who grew powerful under the protection of those regulations vanish. Sure, you'd have a level playing field (of sorts), but some of the players would have had years to practice: the result would be anything but a fair fight. The only way deregulation would work is if it was accompanied by demonopolization. Since that is not politically feasible, it would be a mistake and probably lead to worse outcomes to go ahead with only the deregulatory part.