Skip to main content
This Board Has Moved

This board has been migrated to our new platform! Check out the new home page at or click below to go directly to the new Board on the new site.

Go to the New Site
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Key reason:Low Pay.

Why did pay collapse so much? It’s simple. Policy. The Motor Carrier Act of 1980, pushed by Jimmy Carter, ended price regulation for trucking, which had upheld the bargaining power of trucking firms and drivers in a highly cyclical industry. The goal of public price setting wasn’t just about wages, it was also about stabilizing our transportation system and making sure that massive booms and busts didn’t drive too many people or capital assets in and out of the industry.

Conservatives and liberals in the 1970s however decided that this system was a cartel causing inflation, and so set about to destroy it. This destruction started with Richard Nixon, but it was completed by Democrat Jimmy Carter. In the 1970s, left-wing economist Alfred Kahn justified Jimmy Carter’s various deregulatory proposals, which included the Motor Carrier Act, with the very simple statement, “I’d love to see the Teamsters to be worse off.”

And so they are. And we are now all reaping the whirlwind.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.