1. Railroads and Government Regulation
The Courts and Congress Step in to Regulate Railroads

2. Supreme Court Rulings on Railroad Regulation

4. The Interstate Commerce Act of 1887

7. William H. Vanderbilt and the “Railroad Problem”

8. William H. Vanderbilt (8 May 1821 – 8 December 1885

9. Regulatory Acts 1903 to 1916

10. Regulatory Acts (Continued)

11. Investment by American Railroads (From Enterprise Denied, by Albro Martin)

12. Average Railroad Operating Ratio (Operating Expenses/Operating Revenue)

13. From: “Changes in Industry and the State of Knowledge as Determinants of Industrial Invention,” by Jacob Schmookler. In The Rate and Direction of Inventive Activity.