And to answer your question: it was absolutely deregulated because rich coal mine owners have bought politicians. 

There are no sane people who would ask for this.

As to your other question - there are many forms democracy could take. I like the idea of direct democracy at the local level: literally letting any citizen propose a law and  his neighbours vote on it and if enough agree it becomes law. California has such a system, as does Sweden and several other Scandinavian countries. It's a good compromise between full anarchism and full republicanism.

Ultimately though - humans formed societies because societies survived better than people acting solely in their own self-interest. Cooperation increased everybody's survival rates. This was, is, and remains the primary purpose of society and however you structure it must be measured against how well it meets that goal. Keeping everybody alive as well and long as possible.