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Article ID: CBB447297303

Anti-Competition Regulation (Winter 2019)

Business History Review
Volume: 93
Issue: 4
Pages: 701-724
Publication date: Winter 2019
Language: English

URI: https://www.cambridge.org/core/journals/business-history-review/article/anticompetition-regulation/FF9276E1917C697C99CFE5314B4E3A65

DOI: 10.1017/S0007680519001223

Publication Date: Winter 2019
Edition Details: Special Issue: New Perspectives in Regulatory History

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antitrust Federal government Regulation Finance Banks and banking Certificate of public convenience and necessity Competition, Business Transportation Business history 20th century United States

Looking across the long twentieth century, this article tracks the rise and fall of one form of anti-competition regulation: the certificate of public convenience. Designed to curb “destructive competition” in certain industries, such as transportation and banking, certificate laws prevented firms from entering those industries unless they could convince regulators that they would satisfy an unmet public demand for goods or services. This history highlights how lawmakers used similar techniques in governing infrastructure and finance—two fields that are not often studied together. It also shows that state regulation both prefigured legal change at the federal level and then lagged behind it, suggesting that different dynamics have been in play at each level of governance in devising competition policy over the last century.

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Associated with

Article Laura Phillips Sawyer; Herbert Hovenkamp (Winter 2019) New Perspectives in Regulatory History. Business History Review (pp. 659-664). unapi

Article Rebecca Haw Allensworth (Winter 2019) Comment on Anne Fleming: Anti-Competition Regulation. Business History Review (pp. 725-728). unapi

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