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Deregulation was a process of removing federal authority and regulations from certain industries in order to help them prosper more easily. Some industries boomed and some busted, most notable being the savings and loans industry with banks having an easier time to do their business with the people. Some industries weren't affected at all like the agricultural industry, most notably farmers.
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Answer:
When the king needed to wage war by sea, he relied on the temporary.... the sea, commands the trade; whosever commands the trade of the world.