October 22, 2020

Summarizing The Success Of 40 Years Of Deregulation In Air And Freight Transportation

In 1980 Democrats held the presidency and both houses of Congress. The 96th Congress marked a generation in which both the Senate and House had stayed blue. However, the economy overall had suffered the drawbacks of some 90 years of misguided industrial regulation and central planning from both parties. Moreover, Americans suffered from stagflation (prolonged stagnation and inflation), gasoline shortages brought on by a fickle foreign oil supply, limited options for transportation, and limited consumer goods, which were expensive to ship.  A growing bipartisan, academic and policy consensus documented that regulatory control entrenched the power of incumbent firms, incentivized collusive relationships between regulators and companies, created barriers to entry in the market, and precluded the competition that would incentivize innovation and choice. Congress and the Carter

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