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One reason the Pennsylvania Railroad went broke
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<p class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-family: verdana,geneva;"><span style="font-size: small;">Greyhounds,</span></span></p> <p class="MsoNormal" style="margin: 0in 0in 0pt;"><span style="font-size: small;"><span style="font-family: verdana,geneva;"><span style="font-size: small;"> <o:p></o:p></span></span></span></p> <p><span style="font-family: 'Times New Roman'; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"><span style="font-family: verdana,geneva;"><span style="font-size: small;">Your explanation makes a lot of sense, and it really is not a complex explanation.<span style="mso-spacerun: yes;"> </span>I can see how things could have just developed as an evolution of beliefs and practices without anybody understanding or even questioning the overall effect.<span style="mso-spacerun: yes;"> </span>As the regulatory mission became entrenched deeper and deeper into an ever expanding bureaucracy, that mission steered itself in a straight line.<span style="mso-spacerun: yes;"> </span>And when the game changed, nobody noticed or could make the mission change directions.<span style="mso-spacerun: yes;"> </span>It seems to be the fundamental result of government bureaucracy, which is free to act without any market forces bearing upon it. </span></span><span style="mso-spacerun: yes;"> </span></span></p>
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