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Marcus Alexis and Regulatory Reform in Surface Transportation Industries

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  • James Peoples

Abstract

Marcus Alexis was a major contributor to the debate on deregulation of the surface transportation industry. He hypothesized that easing restrictions on rate-setting and firm-entry would promote efficiency and enhance consumer welfare in trucking and railroad industries. As commissioner and interim chairman of the Interstate Commerce Commission (ICC) he supported legislation that opened these industries to greater competition. This study revisits the model used by Alexis to derive his hypothesis, and uses current information to test its predictive accuracy long after the initial passage of deregulation. Findings from this study are consistent with Alexis’ forecast. Such evidence of his research expertise is just part of his legacy as a pioneer in the economics profession. Copyright Springer Science+Business Media New York 2014

Suggested Citation

  • James Peoples, 2014. "Marcus Alexis and Regulatory Reform in Surface Transportation Industries," The Review of Black Political Economy, Springer;National Economic Association, vol. 41(3), pages 243-258, September.
    • Handle: RePEc:spr:blkpoe:v:41:y:2014:i:3:p:243-258
    DOI: 10.1007/s12114-014-9181-2
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    References listed on IDEAS

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    1. Ying, John S, 1990. "The Inefficiency of Regulating a Competitive Industry: Productivity Gains in Trucking Following Reform," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 191-201, May.
    2. James Peoples, 2013. "The Legacy of the Interstate Commerce Act and Labor: Legislation, Unionization, and Labor Earnings in Surface Transportation Services," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 43(1), pages 63-84, August.
    3. James Peoples, 1998. "Deregulation and the Labor Market," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 111-130, Summer.
    4. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, December.
    5. Garland Chow, 1991. "US and Canadian trucking policy," Palgrave Macmillan Books, in: Kenneth Button & David Pitfield (ed.), Transport Deregulation, chapter 8, pages 141-176, Palgrave Macmillan.
    6. Marcus Alexis, 1982. "The applied theory of regulation: Political economy at the Interstate Commerce Commission," Public Choice, Springer, vol. 39(1), pages 5-27, January.
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    Cited by:

    1. Al-Hadi, Azrina Abdullah & Bitzan, John & Peoples, James, 2019. "Input allocation efficiency in the United States railroad industry: Changing work rules and managerial flexibility," Transportation Research Part A: Policy and Practice, Elsevier, vol. 126(C), pages 281-296.

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