George S. Ford, Phoenix Center Chief Economist and Timothy Strafford, AAR Associate General Counsel & Corporate Secretary recently joined The Federalist Society to examine the history of Staggers and why its core tenets are especially relevant for ratemaking and due process under the Fifth Amendment.

“Over time, the regulation of railroads didn’t necessarily reflect the changing dynamics, the changing economy, the changing technologies,” says Strafford. “In the Staggers Act, you see a wisdom in recognizing that markets are efficient and lead to good outcomes. We’ve seen tremendous results [since Staggers]; productivity has soared, rates measured in the aggregate over time have declined, railroads have been free to invest in their private networks and have done so in big numbers and there have been huge increases in safety.”