Encyclopedia > Interstate Commerce Commission

  Article Content

Interstate Commerce Commission

The Interstate Commerce Act of 1887 created the Interstate Commerce Commission. Members of the commission were appointed by the President with the consent of the Senate. This was the first of the so-called Fourth Branch[?] agencies. Its aim was to regulate surface transportation (initially railroads, later trucking[?]), to ensure fair prices and regulate other aspects of the conduct of common carriers.

The Interstate Commerce Commission is often cited as a classic example in which an agency intended to protect consumers is "captured" by the industry that it intended to regulate. The Commission was accused of acting in the interests of the trucking industry by causing prices to be set at artificially high levels and by using regulation to prevent new entrants from competing.

It was replaced by the Surface Transportation Board[?] in 1995, after losing much of its strength due to deregulation.

All Wikipedia text is available under the terms of the GNU Free Documentation License

  Search Encyclopedia

Search over one million articles, find something about almost anything!
  Featured Article
North Lindenhurst, New York

... is 3.06 and the average family size is 3.44. In the town the population is spread out with 25.6% under the age of 18, 7.5% from 18 to 24, 33.8% from 25 to 44, 21.3% from ...

This page was created in 34.3 ms