Chapter 9. Fighting Over Railroad Regulation

from Mises Media Hosted by Patrick Newman

Barred from rate associations after 1897, the railroads formed communities of interest by buying their competitors’ stock—cartels in a disguised form. Patrick Newman details the reversal of the 1910s, when the ICC shifted to delivering cronyism to shippers and unions and regulation caught the lines in a cost-price squeeze, followed by wartime federalization under McAdoo and the 1920s overhaul that finally secured pools and minimum rates.

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Chapter 9. Fighting Over Railroad Regulation

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