Question

In seeking to re-regulate the railroads, Biden seeks to undo the legacy of deregulation left by President Carter and Senator Ted Kennedy, whose achievements made the U.S. transportation system the most efficient in the world and cut the cost of moving people and goods in half. On antitrust enforcement, Mr Biden seeks to roll back nearly half a century of bipartisan reforms that have dismantled progressive-era regulation and dramatically increased productivity, particularly in transport and high-tech communications.

Answer 1

U.S. transportation deregulation, notably under President Carter, involved removing regulatory barriers in aviation, trucking, and railroads to foster competition and lower prices. This contrasted with earlier eras, particularly the Progressive Age, which saw increased regulation to curb corporate power and protect consumers, including significant railroad reforms. Changing views on government market intervention have led to regulatory shifts over time.

Step-by-step explanation:

The history of transportation deregulation in the United States is characterized by significant shifts in policy and regulatory frameworks, influenced by various political administrations. President Jimmy Carter's era (1977-1981) marked a prominent move towards deregulation when Congress passed laws that removed regulatory barriers within the aviation, trucking, and railroad industries. This led to an increase in competition, with companies having the freedom to set their own routes and rates. During the Progressive Era and under the leadership of President Theodore Roosevelt, regulation, especially of railroads, was strengthened, notably through the Interstate Commerce Act and subsequent measures like the Elkins Act and the Hepburn Act. These historical shifts in regulatory strategies reflect changing perceptions of government roles in market regulation over the years.

President Carter's deregulation was part of a bipartisan trend that spanned from the late 1970s and well into the 1980s, including under President Ronald Reagan. This trend led to reduced government oversight in multiple industries, including transportation and public utilities, with the intent of fostering competition and benefiting consumers through lower prices, although it also caused some market difficulties. The deregulation movements of Presidents Carter and Reagan differed from the early 20th-century interventions designed to curtail corporate excesses and promote fair competition, as seen with the Interstate Commerce Commission's establishment and antitrust laws.