Authors:
  • Unable to maintain their government-granted monopoly, the powerful railroad
    interests turned to government to do the regulating and price-fixing which they
    were unable to do themselves. In fact, the pressure that induced Congress to
    enact the Interstate Commerce Act of 1887 did not come from reformers bemoaning
    abuses by the powerful railroad interests; it came from the railroad interests
    themselves, asking Congress to shield them against the harsh winds of
    competition.

    Dan Smoot (1973). “The BUSINESS END of Government”
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