SIR EDWIN CHADWICK ON COMPETITION AND THE SOCIAL CONTROL OF INDUSTRY: RAILROADS

This article investigates a well-developed contribution to the analysis of railway economics made by Sir Edwin Chadwick (1800-1890), a lawyer and civil servant. Specifically, this article critically evaluates Chadwick's unorthodox theory of competition and industrial organization; demonstrates that his solution to the railway-natural monopoly problem encompassed to a large extent those of his most innovative contemporaries in England and Europe interested in railway economics; evaluates the theoretical merits and deficiencies of consolidation of the British railroads under Chadwick's principle, an evaluation that applies to any implementation of Chadwick's plan; and examines the filiations between Chadwick and John Stuart Mill on the question of railroads and social control. We believe that a review of these issues seems especially timely given the precarious position of privately owned rail lines in the United States, and we conclude that Chadwick's principle should be given serious consideration if nationalization of railroads (or any other industry for that matter) becomes the choice of society.

• Corporate Authors:

  Duke University Press

  6697 College Station
  Durham, NC  United States  27708
• Authors:
  • Ekelund Jr, R B
  • Rice III, E O
• Publication Date: 1979

Media Info

• Pagination: p. 213-239
• Serial:
  • History of Political Economy
  • Volume: 11
  • Issue Number: 2
  • Publisher: Duke University Press

Subject/Index Terms

• TRT Terms: Bankruptcy; Competition; Consolidations; Economics; History; Nationalization; Ownership; Right of way (Land); Socioeconomic factors
• Subject Areas: Economics; Finance; History; Railroads; Society;

Filing Info

• Accession Number: 00309971
• Record Type: Publication
• Files: TRIS
• Created Date: May 21 1980 12:00AM