Publisher's Synopsis
Excerpt from Railway Rate Theories of the Interstate Commerce Commission
Commission, and in the case of the courts of arbitra tion and minimum-wage boards of the Australasian colonies, that wherever special tribunals are created having authority to determine prices and wages, these tribunals, provided only that they are not subject to frequent changes in membership, tend to evolve from their own experiences a set of principles in harmony with existing economic relations and tendencies.
This fact suggests the possibility of evolving a theory of railway rates from a study of the decisions of such railway commissions as have already been in existence. Such a study would be inductive in its methods, in contrast to the deductive methods which have usually been followed by those who have written on this subject. Starting with some general principle Of valuation, such as the marginal utility Of the service to the shipper, the principle of joint cost, or the tax principle of ability to pay, various writers have endeavored to show that this given principle was fundamental in the explanation of the theory of rail way charges. Without raising here the question as to the validity of the deductive method when applied to the problem of railway rates, or without attempting to discuss any of the principles mentioned above, it may be stated without hesitation that such an induc tive study as is here proposed should go far towards confirming or denying the conclusions derived by the deductive method of handling the problem.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
