As Chairman of the Civil Aeronautics Board in the late 1970s, Alfred E. Kahn presided over the deregulation of the airlines and his book, published earlier in that decade, presented the first comprehensive integration of the economic theory and institutional practice of economic regulation. In his lengthy new introduction to this edition Kahn surveys and analyzes the deregulation revolution that has not only swept the airlines but has transformed American public utilities and private industries generally over the past seventeen years. While attitudes toward regulation have changed several times in the intervening years and government regulation has waxed and waned, the question of whether to regulate more or to regulate less is a topic of constant debate, one that The Economics of Regulation addresses incisively. It clearly remains the standard work in the field, a starting point and reference tool for anyone working in regulation.Kahn points out that while dramatic changes have come about in the structurally competitive industries - the airlines, trucking, stock exchange brokerage services, railroads, buses, cable television, oil and natural gas - the consensus about the desirability and necessity for regulated monopoly in public utilities has likewise been dissolving, under the burdens of inflation, fuel crises, and the traumatic experience with nuclear plants. Kahn reviews and assesses the changes in both areas: he is particularly frank in his appraisal of the effect of deregulation on the airlines. His conclusion today mirrors that of his original, seminal work - that different industries need different mixes of institutional arrangements that cannot be decided on the basis of ideology.
As Chairman of the Civil Aeronautics Board in the late 1970s, Alfred E. Kahn presided over the deregulation of the airlines and his book, published earlier in that decade, presented the first comprehensive integration of the economic theory and institutional practice of economic regulation. In his lengthy new introduction to this edition Kahn surveys and analyzes the deregulation revolution that has not only swept the airlines but has transformed American public utilities and private industries generally over the past seventeen years. While attitudes toward regulation have changed several times in the intervening years and government regulation has waxed and waned, the question of whether to regulate more or to regulate less is a topic of constant debate, one that The Economics of Regulation addresses incisively. It clearly remains the standard work in the field, a starting point and reference tool for anyone working in regulation.Kahn points out that while dramatic changes have come about in the structurally competitive industries - the airlines, trucking, stock exchange brokerage services, railroads, buses, cable television, oil and natural gas - the consensus about the desirability and necessity for regulated monopoly in public utilities has likewise been dissolving, under the burdens of inflation, fuel crises, and the traumatic experience with nuclear plants. Kahn reviews and assesses the changes in both areas: he is particularly frank in his appraisal of the effect of deregulation on the airlines. His conclusion today mirrors that of his original, seminal work - that different industries need different mixes of institutional arrangements that cannot be decided on the basis of ideology.
This work assesses the status of the public utility deregulation movement in the USA. It focuses on the continuation of releasing competitive forces in the revolutionary deregulation of a large portion of the public utilities industries since 1980.
Over the last several years, the value of stocks in both the airline and the telecommunications industries have dropped catastrophically. Since these industries were among the most important—and most visible—to have been unleashed from regulation in recent decades (albeit in widely differing degree), their difficulties have raised the question of whether their deregulation should be reconsidered or even reversed. Alfred E. Kahn, one of the foremost authorities on deregulation, argues in this book that every passing year demonstrates the superiority of the road chosen for the airlines. He contrasts the financial meltdowns of both the airline and telecommunications industries with others taking place at the same time, particularly in technology-related stocks and "dot.coms," pointing out that these sectors were also relatively free of direct economic regulation. Their experience provides a useful counter to the natural tendency to blame all the woes of aviation and telecommunications on government policy. This book provides a valuable and accessible guide to unraveling the complex world of network deregulation. It will serve as a reference point for practioners and policymakers, as well as an important introduction for the general public.
Diverted by the dramatic military and political events of July 1944, few Americans realized the significance of an international conference taking place at Bretton Woods, a mountain resort in New Hampshire, far from the battle zones. There United Nations experts were completing plans for a world monetary and financial system that they hoped would create a prosperous, efficient global economy and avert economic tensions that might lead to another world war. Until the dollar crisis of 1971, decisions made at Bretton Woods provided the institutions and rules for international finance. The conference ushered in an era of unprecedented expansion of world trade and prosperity. Based on extensive research in previously unavailable sources, A Search for Solvency relates intriguing and often complicated issues of economic analysis and diplomatic history. It offers a succinct and comprehensive survey of international monetary development from the collapse of the pre–World War I gold standard to the devaluation of the dollar in 1971. In effect, it explains the origins of late twentieth-century global inflation and currency problems. The author details how the ghost of the Great Depression, the failure of monetary reconstruction efforts after World War I, and the memory of the nineteenth-century gold standard guided efforts to construct the Bretton Woods system. This preoccupation with the past, as well as political constraints, produced a monetary system protected against past dangers—fluctuating currencies, controls, and deflation—but dangerously vulnerable to inflationary pressures. The weaknesses of Bretton Woods, a system geared to an era in which economic power was concentrated in the United States, became visible in the 1960s and painfully apparent by the mid-1970s.
Immediately and universally relevant, language is the ideal theme to explore in a composition course. Language Awareness collects contemporary and classic readings about language that not only make students more aware of its uses and more capable of analyzing its effects, but also help them to deploy language more effectively in their own writing. New coverage in the eleventh edition provides even more advice on critical reading and working with sources, while a new organization focuses each short chapter on a single, cohesive theme. In addition, insightful "Language in Action" activities help students connect what they learn about language to what they observe in their daily lives.
Drugs acting on the central nervous system; Local anesthetics; Drugs acting at synaptic and neuroeffector junctional sites; Autacoids; Cardiovascular drugs; Water, salts, and ions; Drugs affecting renal function and electrolyte metabolism; Drugs affecting uterine motility; Gases and vapors; Heavy metals and heavy-metal antagonists; Locally acting drugs; Chemotherapy of parasitic diseases; Chemotherapy of microbial diseases; Chemotherapy of neoplastic diseases; Drugs acting on the blood and the blood-forming organs; Hormones and hormone antagonists; The vitamins.
Over the last several years, the value of stocks in both the airline and the telecommunications industries have dropped catastrophically. Since these industries were among the most important—and most visible—to have been unleashed from regulation in recent decades (albeit in widely differing degree), their difficulties have raised the question of whether their deregulation should be reconsidered or even reversed. Alfred E. Kahn, one of the foremost authorities on deregulation, argues in this book that every passing year demonstrates the superiority of the road chosen for the airlines. He contrasts the financial meltdowns of both the airline and telecommunications industries with others taking place at the same time, particularly in technology-related stocks and "dot.coms," pointing out that these sectors were also relatively free of direct economic regulation. Their experience provides a useful counter to the natural tendency to blame all the woes of aviation and telecommunications on government policy. This book provides a valuable and accessible guide to unraveling the complex world of network deregulation. It will serve as a reference point for practioners and policymakers, as well as an important introduction for the general public.
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