Re: Re: Re: Airplanes falling out of the sky

[Jim Devine]

I wrote:
>4. I think that in general there are two dimensions to government
>regulation of industry:
>
>(a) industry self-regulation, like my Dad's old organization (the Audit
>Bureau of Circulations), which makes sure that newspapers don't lie about
>how many folks read them in order to be able to charge top dollar for
>advertising space. None of the newspapers wants others to cheat, so they're
>willing to chip in to be regulated. They also want to avoid "fly-by-night"
>companies that "make the whole industry look bad." 
>
>(b) regulation to help consumers and workers. 
>
>In practice, these are combined but are not the same. It's useful to
>separate them as part of the analysis before bringing them together again. 

there's a third dimension to regulation:

(c) inter-industry competition: the ICC originally sided with the trains
against trucking. Then the trucking industry took over the ICC, which ended
up being biased against trains. 
 
Jim Devine [EMAIL PROTECTED] &  http://liberalarts.lmu.edu/~jdevine