Abstract
This chapter examines Theodore Keeler’s views, analyses, and early predictions regarding regulation and regulatory reform of airlines, railroads, and motor carriers. It highlights the importance of Ted Keeler’s applied (as opposed to theoretical) approach, his contributions to the theory of regulation and regulatory change, and the general accuracy of his short- and long-term predictions of the impacts of regulatory change in these industries. Contrasting views on the role of regulation at the time when Keeler started studying the transportation industries are explored, as well as the role that Keeler played in more fully integrating the political support view of regulation with consumer and production theory. The chapter also briefly describes the problems in aviation and surface freight transportation during the regulatory era, the tone of regulatory change in those industries, Ted Keeler’s early assessments of deregulation, and developments in those industries since those early assessments.
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