Abstract
The article focuses on the airline deregulation policy propounded by the former US president Jimmy Carter in the late 1970s. First, airlines were the first of the transportation industries to experience deregulation. Second, airline deregulation and transportation deregulation in general produced unambiguous benefits. Economic regulation at the federal level first came to the United States with the passage of the Interstate Commerce Act of 1888, which was aimed at railroads. This legislation and the regulatory commission established in it created the template for subsequent federal regulatory actions. The structure of the American economy was significantly different in 1970 than it is in 2013. Significant sectors of the economy were subject to government regulation. These regulations typically included control over prices, entry and exit in markets, and often additional business practices. The regulation of airlines commenced with the Civil Aeronautics Act of 1938. The act established the Civil Aeronautics Board (CAB) as a regulatory agency with comprehensive powers over the industry.
Original language | American English |
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Journal | Independent Review |
Volume | 19 |
State | Published - Jul 1 2014 |
Disciplines
- Business Administration, Management, and Operations
- Finance
- Finance and Financial Management
- Economics