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- Title
ECONOMIC IMPLICATIONS OF THE RAILWAY CLASS RATE CASE.
- Authors
Harbeson, Robert W.
- Abstract
The decision of the Interstate Commerce Commission in what is commonly referred to as the Class Rate Case reorganized the existing freight classifications and class rate structure of the country, and in terms of its economic, legal and political implications is, in the writer's judgment, one of the most important decisions rendered by the Commission in its sixty-two year history. The Commission's decision was rendered on May 15, 1945 and upon appeal was upheld by the Supreme Court of the U.S. on May 12, 1941. There has been much speculation concerning the nature and extent of the influence, which the Class Rate Case will have on regional economic development. Considerable uncertainty surrounds the answer to this question, partly because time is necessarily required for the new rate adjustment to work out its effects, but primarily because it is only one of a number of important factors shaping regional economic development. But, in the writer's opinion, there can be little doubt that two features of the decision, namely, the interregional approach to the problem of rate regulation and the heavy reliance upon cost evidence, will prove to be of great significance.
- Subjects
UNITED States; FREIGHT classification; INTERSTATE commerce laws; ECONOMIC impact; GOVERNMENT ownership of railroads; RAILROAD freight service; UNITED States. Interstate Commerce Commission; UNITED States railroad law
- Publication
American Economic Review, 1950, Vol 40, Issue 1, p113
- ISSN
0002-8282
- Publication type
Article