Abstract:
There have been numerous works on the economic regulation of transport, most of which place special emphasis on the theoretical aspects of the subject, although there have been some notable exceptions. The importance of this approach cannot be overstressed. It is nevertheless true that, although economic theory illuminates, and indeed exposes some of the fallacies of economic regulation as applied to transport, and, conversely, points to its appropriateness in some situations, the rigour of the expositions has had the result that they have had less than the attention they merit from the legislators and administrators who are responsible for the drafting and passing of the regulatory laws.
