Any enterprise that regularly raises its prices while letting its service slip is almost sure to drive away customers. Unless, of course, that enterprise happens to be a monopoly like the U.S. Postal Service, which is still the only organization legally allowed to deliver first- and third-class mail. The Postal Service is cutting back on operations and capital spending even as its volume of mail -- 500 million letters, publications and packages every day -- grows by about 6% a year. Many customers are frustrated: complaints about delayed mail rose by 18% in 1987.
Yet the Postal Service is preparing to...
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