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[quote]QUOTE: Originally posted by greyhounds The University of Chicago happened. Seriously - knowledge and understanding of all sciences advanced, including economics. As you said, people didn't understand the merits in 1883, but had come to understand them in 1980. Just as doctors didn't know about germs back then but had an understanding of infections in 1980. [/quote] Now I'm really confused by your argument. Germ theory was a discovery. What was discovered by economists after 1883 that changed everything? Weren't the benefits of a free market described 117 years earlier by Adam Smith in The Wealth of Nations, and published to broad acclaim in 1776? Earlier I understood you to say that farmers opposed deregulation in 1980. So the farmers that didn't understand the merits of free enterprise in 1883 and agitated for regulation came to understand its merits by 1980 and supported deregulation? Or are you saying that farmers' never got it right, but their views commanded votes in Congress in 1883, but in 1980 Congress ignored this constituency? (You're saying that Congress, for once, got it right? Wasn't the House controlled by the Democratic Party then?) Or are you saying that railroads had the power to self-regulate themselves in 1883 to bring legal protection and authority to their cartels, AKA rate bureaus, neglected to return to Congress, once it became apparent this was a mistake, to tell them to turn the switch off, and then had the power to deregulate themselves in 1980? Was I mistaken when I read all those statements about the evils of regulation in Railway Age, Railroad Gazette, and Railway Record beginning in the 1870s when states startted to regulate railroads, and continuing unabated to 1980? If that's not what happened, exactly who did become educated by 1980? Congress? And to return to an earlier statement by you, when you said that small businesses opposed deregulation of motor trucking in 1980, how is it that their views didn't carry the day? What about the small businesses advantageously situated that wanted deregulation so they could beat down their rates at the expense of their less advantageously situated competitors? Where did they fall in all this? OS
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