Word: cabs
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...1960s agencies have outlived much of their usefulness and that their rules, once necessary to curtail the old robber barons, now work to inhibit natural competition and accelerate inflation. These agencies do little if anything to improve the quality of life, and deregulation, as proved by the CAB'S move to free air fares and the SEC's loosening of brokers' commission rates, can quickly and dramatically cut prices...
...coal smoke. There are also unnecessary inefficiencies: New York City has been ordered by the Department of Transportation to build subway ramps and elevators for the handicapped at a cost of $1.5 billion, even though impecunious city fathers contend that it would be cheaper to give the disabled free cab rides for life...
...telling employers what they were forbidden to do. Today business people commonly echo the complaint of Willard Butcher, president of Chase Manhattan Bank: "Washington has begun to dictate not only what we must do but also how we must do it." Alfred Kahn, the former head of the CAB who is now Carter's anti-inflation chief, insists that "the best lesson is to minimize coercion. Regulators should be less precise and let businesses find their...
...1950s, Kahn, a registered Democrat, served on the senior staff of President Eisenhower's Council of Economic Advisers. From 1974 until his appointment to the CAB, he was chairman of New York State's Public Service Commission. Under his direction, the PSC allowed telephone users to hook up their own equipment to the Bell system and permitted utility companies to set different electric rates depending on the time of day. As Kahn advised his CAB successor, Marvin Cohen: "Understand how a free market works and restrain one's tendency to meddle...
Sometimes he pauses to reflect wistfully that the demands of managing a business with $3.5 million in assets keep him from doing as much of the actual planting and harvesting as he would like. Says Benedict: "I miss it, because spending eight hours in a tractor cab is a therapeutic kind of work. But I can't assign myself an all-day task running a machine any more. I have to be able to move about to make sure that it all comes together...