Deregulation In The United States

Paper Summary:

Discusses regulation and deregulation issues. Legal precedent established by Munn v. Illinois regarding interstate commerce and private property rights. Nabbia v. New York. Impact of airline deregulation; instability of the industry. Electric power industry and California deregulation and energy crisis. Telecommunictions deregulation. FDA and drug approval process; Orphan Drug Act.

From the Paper:

"REGULATION/DEREGULATION ISSUES

Munn v. Illinois
Munn v. Illinois [94 U.S. 13 (1876)] established a legal precedent related to both interstate commerce and private property rights in the United States. The State of Illinois enacted a law designed to protect both farmers and consumers by setting maximum charge for storing grain in privately owned elevators and warehouses. The enactment of the law occurred at the behest of the Grange movement, which was an organization that promoted farming interests. Another requirement of the Illinois law was that warehouse operations must obtain a license from the state to operate grain storage facilities.

Ira Munn violated both of the above-mentioned provisions of the Illinois law. Munn operated a grain storage facility in Chicago without ..."

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