The Future of the Railroads Historic And Economic Facts for Railroad Men Ship

Cover The Future of the Railroads Historic And Economic Facts for Railroad Men Ship
The Future of the Railroads Historic And Economic Facts for Railroad Men Ship
Babson, Roger Ward, 1875-1967
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It seems to the writer that the Inter- state Commerce Commission, when attempting to adjust a rate, should endeavor to im- agine what rate would auto- matically exist under ideal competitive conditions, re- membering that ideal com- petition does not mean destructive or monopolistic competition. Experiments will doubtless be tried along more complicated and me- chanical lines, but the Com- mission will finally cast all these formulas and theories aside. Rates can be justly de- termined only by ...considering 109 what Avages employees would be receiving, w^hat dividends investors w^ould be obtaining, and what rates shippers w^ould be paying under an ideal com- petitive system where the rewards of all were great enough to permit of growth and yet small enough to pre- vent needless duplication.
The greatest opportunity, hoAvever, which the Interstate Commerce Commission has in rate-making is in the use of its power in directing the manu- facture and distribution of goods along economic lines.


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