INFLATION: Fighting the Regulatory Fiefdoms

For nearly seven months, the Ford Administration has been calling for a revamping of the nation's inefficient federal regulatory system. Its argument is that freer markets and increased competition could lead to lower prices or better service in more than half a dozen heavily supervised industries, including airlines, railroads, trucking, natural gas, banks and utilities. White House free-marketeers have lambasted such alphabet agencies as the CAB, ice and FPC for acting as guardians of the businesses they are supposed to regulate. They have urged the creation of a national commission on...

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