Regulation or Deregulation - Labor

The thesis of this paper is that the existing scheme of government regulation of labor-management relations in the railroad industry does not sufficiently protect the public interest in two respects. First, the acknowledged interest of the public in preventing crippling strikes has not been served adequately, as is evidenced by the frequency of ad hoc Congressional intervention in recent years. Second, the prevalence of economically irrational contract provisions injures the public just as surely, even though more indirectly, as strikes. Some form of compulsory arbitration is the only answer.