Interstate Commerce Act

Real World Example

The Interstate Commerce Act, passed in 1887, was important because it marked the first time the U.S. government took significant steps to regulate private industry, specifically the railroads. This was a shift from the earlier ideas of a hands-off government, as seen in the late 1700s, and highlighted the tension between free markets and government regulation. The act established the principle that the government could intervene to ensure fairness and prevent monopolistic practices, a concept that still resonates today. For people today, this means that government regulations continue to play a role in ensuring fair prices and practices in industries like telecommunications, airlines, and internet services. For instance, if you have ever experienced your internet bill being regulated or protected against sudden hikes, that's a modern application of these regulatory ideas.