[PEN-L:4755] Re: Fruits of deregulation

[JDevine@xxxxxxxxxxxxxxx]

Is there a theory that says that different kinds of goverment
regulations can be complementary?

Specifically for here in Gringolandia, it seems to me that back
in the days of the Civil Aeronautics Board (pre-1978), airline
competition was restricted (as the CAB acted much like a cartel).
This may have raised air fares compared to the competitive case,
but it lowered the degree of competitive pressure that can push
an airline to break the F.A.A.'s safety regulations.

Similarly, the Interstate Commerce Commission restricted
competition in trucking, which had the beneficial side-effect of
preventing the competitive pressure to break speed limits and to
violate National Labor Relations Board rules.

(I'm going to have to stop using the word "Gringolandia." After
all, here in Ellay, a growing percentage of the population is
non-Gringo, though citizens of the U.S.)

in pen-l solidarity,

Jim Devine   jdevine@xxxxxxxxxxxxxxx
Econ. Dept., Loyola Marymount Univ., 7900 Loyola Blvd.
Los Angeles, CA 90045-8410 USA
310/338-2948 (daytime, during workweek); FAX: 310/338-1950
"Segui il tuo corso, e lascia dir le genti." (Go your own way
and let people talk.) -- K. Marx, paraphrasing Dante A.