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Economics of Transportation By Marvin Fair & Ernest Williams Revised Edition
Economics of Transportation By Marvin Fair Economics of Transportation By Marvin Fair & Ernest Williams Revised Edition Hard Cover 1950, 1959 684 pages indexed
Preface
This is a general treatment of intercity transportation. As a college text it is designed for either a semester or full-year course in the economics of transportation. For many years the basic course in this field was essentially a course in regulation and largely railroad regulation at that. The economic aspects of transportation too often had been treated as incidental to and a reflection of the task of regulation. Today, the economics of transportation assumes a new significance as a study of the function of transportation in the structure and activity of the economic system and of social organization as a whole. The "functional" approach is primarily concerned with the place of transportation in the flow of utilities and the distribution of resources in the economic system. This approach, introduced in the first edition of this book in 1950, was therefore a marked departure from the conventional approach. The authors sought to prepare an economics of transportation that would be most meaningful in this half of the twentieth century.
Among social scientists there is a rising tide of interest in the economics of regional development and in the importance of spatial relations in determining not only the extent of markets and scale of production but also the social and political relationships in metropolitan areas, regions, and nations. Furthermore, in the interest of business efficiency, students of business organization and marketing give more attention to the planning of exact location of plants and to the control of the flow of products in physical distribution. If the study of transportation economics is to fit into these analyses, a basic approach is necessary. The authors believe that this calls for substantial treatment directed to an understanding of the function of transportation, how it has contributed to the evolution of the modern economic and social order, the nature of the demand for and supply of transportation, the development of transport facilities, services, and rate structures in response to economic, social, and political influences, and the considerations involved in the evolution of an integrated transportation service. The authors are concerned with government regulation, but more with the economic factors which shape it and its impact on the economy than with the ramifications of the policy itself.
Such an approach calls for an "across the board" treatment of the several modes of transportation in the analysis of transportation development, service, and rates. Growing competition among the modes called for analysis of their relative fitness to meet economic and social needs. This proved a difficult task to accomplish. Another objective was to write a well-organized and readable volume. The response to this effort has been encouraging.
Recent trends in adoptions of the first edition and the unusual interest expressed in this new edition reflect a rapidly growing acceptance of this approach and method of treatment. The reaction abroad and the favorable reception of the first edition of Economics of Transportation on the part of students of other countries serves to confirm the universal validity of the functional approach.
This second edition follows the general plan of the first, employing "across the board" treatment in all parts except Part IV which describes separately the pattern of regulation that applies to the several modes of transportation. The book is somewhat shorter, containing three less chapters. The total effect we believe is to strengthen and streamline the treatment and to improve its teachability. This is an extensive revision going far beyond merely bringing the text up to date. The changes in each part are as follows:
In Part I, Economics of Transportation Development, Chapter 1, The Social Significance of Transportation, has been rewritten incorporating more sociological findings on the relation of transportation to community size, pattern, and change in economic and social activity. The chapter on transportation and national development has also been recast and with Chapters 1 and 2 provides a more adequate base for the study of the economics of transportation development. Urban transit and foreign shipping are largely omitted in this revision.
In Part II, Economics of Transportation Service, the chapters on bulk freight, merchandise, and passenger services (Chapters 11, 12, 13) now follow directly the chapters presenting the analysis of the demand for transportation service, service obligations, and legal requirements (Chapters 9, 10). Together these chapters set forth the factors in a nation's demand for and supply of transportation. They are followed by Chapter 14, Carrier Management and Organization, which has been entirely rewritten and which incorporates essential elements covered in separate chapters in the first edition on organization accounts and statistics and financial requirements of carriers. In its new position the chapter on management ties in more closely with the concluding chapter in Part II, Efficiency and Profitableness of Carriers. Thus, Part II has been substantially streamlined but, we believe, has retained the most essential elements of a discussion of the economics of transportation service.
In Part III, Economics of Transportation Rates, the separate chapters on rates and prices and rates and location of economic activity have been consolidated into Chapter 16, Rates, Prices, and the Location of Industry. Chapter 18, Principles of Rate Making, has been strengthened by a more illustrative treatment of monopoly and ologopoly price theory and a more complete analysis of the theory of discrimination in rates. Chapter 17, Cost Relationships in Carrier Service, is a new chapter which reflects the increasing importance of intermodal competition. The chapter on basic rate structures in the first edition proved to be rather involved for the basic course and was deleted. The applied aspects of rates are confined to Chapter 20, Rate Structures and the Effects of Competition, which is more amply illustrated for student interest.
Part IV, Economics of Transportation Regulation, remains the same in chapter designations. The development of railroad regulation is summarized in a six-page chart to clarify the evolution of each substantive provision of Part I of the Interstate Commerce Act. Recent developments in carrier regulation including the Transportation Act of 1958 are presented. The chapters on discrimination and rate level have been modified to reflect certain new developments and changes in policy.
Part V, Problems of Transportation Policy, has been abbreviated by deletion of the chapters on transportation labor and public aid and public ownership. The more pertinent aspects of the labor problem are included in the revised chapter on management and both labor and public aid are considered in the new chapter in Part III on costs and carrier competition. Public ownership has become a purely academic and hackneyed subject and hardly justifies repetition as a separate chapter. Chapters 29 and 30, Railroad Consolidation and Coordination of Transportation, have been revised to incorporate new developments and proposals. Finally Chapter 31, A National Transportation Policy, has been revamped to present the issues more sharply and to bring the whole treatment up to date.
As pointed out in the first edition there are many important issues in the administration of transportation policy with respect to public regulation and aid. The authors have not avoided these and have endeavored to present the principal considerations involved. Except for the concluding chapter, evaluation of issues has been subordinated to an analysis of the pertinent aspects and, perhaps, only appears by inference. The judgments and opinions of the authors expressed in the last chapter must be treated as such. These conclusions are based upon both academic study and an aggregate experience of many years as transportation specialists dealing with transportation problems in the federal government.
The book is designed to serve the needs of either a semester or a full-year course. Recognizing that the work may be extensive for a one-term course and in response to inquiries by many instructors, the authors have prepared a suggested outline for a semester course (see p. xiii). The material to be used naturally depends on where the instructor desires to place the emphasis. If the emphasis is to be placed on the economics of transportation service, Part IV may be omitted. A summary of this part by the instructor will enable the student to grasp the central issues of Part V. Similarly, if emphasis on the economics of regulation is desired, Part II may be omitted or treated in summary fashion.
The authors wish to acknowledge their indebtedness to the transportation economists with whom they have been associated in universities, research institutions, and government departments. Special acknowledgement is due to the late Dr. Clyde 0. Ruggles, Professor of Public Utility Management, Harvard University, and to Dr. Thurman W. Van Metre, Professor Emeritus of Transportation, Columbia University, who served as graduate advisers and teachers to the authors and who have given helpful suggestions on portions of the manuscript. Among the many who have given valuable suggestions for this revision are Dr. Howard Nicholson of Clark University and Dr. Ralph Dewey of The Ohio State University. Many colleagues among teachers of transportation and related subjects have been helpful in this revision.
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