me: >>> The Supreme Court, at the time still packed with laissez-faire >>> conservatives left over from previous eras, knocked down the NRA in >>> 1935.
David: > The Supreme Court was unanimous, including Brandeis. < there were other reasons to be against the NIRA besides laissez-faire conservatism. me: >>> By the way, it's interesting that after an abortive pro-fascist coup >>> (which was supposed to be led by General Smedley Butler), FDR went for >>> pseudo-fascist economics (the NIRA). I guess fascism was in the air... > I don't think fear of a fascist coup had much to do with the NRA. < I don't think so either. But fascist ideas can have influence through a lot of channels, especially when there's fear of communism (which was more scary to the establishment at the time). > The deregulation of air and trucking fares occurred precisely because there > was no intellectual support for the notion that either (1) industry health > should trump consumer welfare, or (2) consumers benefited from industry > health. ... The fact that price (and entry) regulation lingered until the > 1970s was a testament to regulatory capture, not intellectual support.< Right on the regulatory capture, but the ICC (and likely the CAB) were "captured" by industry at the same time they were created, as was the Federal Reserve. It's unclear if the abolition of the ICC and CAB have been good for consumers. (Doug has some stats for that.) It's clearly been bad for workers, who are also consumers. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
