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Excerpt from An Economic Assessment of Surface Freight Transportation Deregulation
Understanding the regulatory environment in which motor carriers and railroads operated is essential to an informed discussion of the effects of regulatory reform in these industries. Although the ICC exercised authority over prices, entry, and exit in both industries, the regulatory environment in which trucking firms operated differed dramatically from that imposed on railroads. This led to quite disparate performance, and consequently different political interests, in the two industries.
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