IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Railway regulation in 19th Century Britain: the economic rationale and legacy of Gladstone and Chadwick

  • Mark F. Bailey

    (University of Ulster)

This paper examines the economic rationale of the ideas of Gladstone & Chadwick on railway regulation and the legacy of their ideas. In 1844 Gladstone proposed and implemented what we would now call price and quantity regulation whereas in 1859 Chadwick proposed competition "for the field", i.e. the establishment of a temporary monopoly or franchise, for a given period. The thinking of Gladstone had been influenced by the classical school of economic thought, most notably J R McCulloch, whilst Chadwick had ideas influenced by his association with Jeremy Bentham and John Stuart Mill. This ideas still impact today; the basic pattern of price and some quantity regulation inaugurated by Gladstone was not abolished until the 1960 Transport Act whilst Chadwicks idea of temporary licenses or franchises came back into vogue when the railways were privatised in 1997.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://econwpa.repec.org/eps/mhet/papers/0307/0307001.pdf
Download Restriction: no

Paper provided by EconWPA in its series Method and Hist of Econ Thought with number 0307001.

as
in new window

Length: 28 pages
Date of creation: 09 Jul 2003
Date of revision:
Handle: RePEc:wpa:wuwpmh:0307001
Note: Type of Document - Acrobat PDF; prepared on IBM PC; to print on A4 Acrobat PDF; pages: 28 ; figures: included. 28 pages, Acrobat PDF, A4
Contact details of provider: Web page: http://econwpa.repec.org

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpmh:0307001. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.