From: ahk@chinet.com   
      
   hancock4@bbs.cpcn.com wrote:   
   >On Monday, May 18, 2015 at 1:43:20 PM UTC-4, Adam H. Kerman wrote:   
      
   >>Rates were set in collusion, but the big monied interests challenged   
   >>each other at times and colluded at other times. It's just not possible   
   >>to maintain cartels in American business on a permanent basis.   
      
   >Very powerful cartels were maintained for _decades_ back then.   
      
   No, they weren't capable of preventing all competition. Railroads themselves   
   wanted the Interstate Commerce Commission created, in part, to end some   
   of the rate competition.   
      
   >Even TR's reforms didn't put a stop to all of them; it took the reforms   
   >of the New Deal (ie the SEC, Glass-Stegal, and other stock market   
   >regulations) to really put a stop to the abuses.  (of course, in recent   
   >years, things like that have been repealed with disasterous effects*).   
      
   Who was president when the Interstate Commerce Commission was first   
   authorized? You better do your homework.   
      
   >>Point is that you're completely wrong about the harm caused by airline   
   >>price gouging. I sure as hell don't want the Civil Aeronautics Board   
   >>restored because you don't understand that the price rises due to temporary   
   >>supply shortages, and that this is an economic benefit.   
      
   >Wild price flucuations are bad for the economy, which is why efforts   
   >were made over the last century to mitigate such cycles.   
      
   That would be a repeated assertion. We're talking about a few days here.   
   How, exactly, was the economy hurt?   
      
   >Regulation certainly has its problems, but in looking back on the state   
   >of various industries pre- and post- regulation, in some cases a   
   >regulated industry performed better.   
      
   Railroads under regulation? You've got to be fucking kidding me.   
      
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