151. Ibid.
152. Bill Miller interview, July 28, 1989.
153. William L. Silber, Volcker: The Triumph of Persistence, 164.
154. Paul Volcker interview, November 11, 2013; Fred Schultz, interview with the author, February 1, 1993.
155. Bill Miller interview, July 28, 1989.
156. Public Papers of the Presidents, Jimmy Carter, 1979, Vol. II, August 6, 1979, 1462.
157. Paul Volcker, Changing Fortunes, 164.
158. Public Papers of the Presidents, Jimmy Carter, 1979, Vol. II, August 7, 1979, “Volcker Remarks at Swearing-In,” August 6, 1979, 1405.
159. Fred Schultz, interview with the author, February 1, 1993.
160. Lane Kirkland interview, December 19, 1989.
161. Charles Schultze interview, June 19, 1989.
162. Paul Volcker interviews, July 31, 1989, and November 11, 2013.
163. Robert Samuelson interview by author, May 16, 2016.
164. Paul Volcker interviews, July 31, 1989, and November 11, 2013.
165. William L. Silber, Volcker: The Triumph of Persistence, 165; William L. Silber, “How Volcker Created a Gold Standard Without Gold,” Bloomberg News, August 21, 2012.
166. Paul Volcker interviews, July 31, 1989, and November 11, 2013.
167. Charles Schultze interview, January 8, 1992.
168. Fred Schultz interview, February 1, 1993.
169. William L. Silber, Volcker: Paul Volcker, The Triumph of Persistence, 166.
170. Paul Volcker, interview, November 11, 2013.
171. Steve Axilrod, October 26, 1990.
172. Fred Schultze interview, June 19, 1989; Lyle Gramley, interview with author, July 25, 1989; Bill Miller interview, July 28, 1979.
173. Robert Samuelson interview, May 16, 2016.
174. Paul Volcker interview, November 11, 2013.
175. Bill Medley, “Volcker’s Announcement of Anti-Inflation Measures,” Federal Reserve History, October 1979.
176. William L. Silber, Volcker: The Triumph of Persistence, 168–9; Volcker interview, July 31, 1989.
177. William L. Silber, “How Volcker Created a Gold Standard Without Gold.”
178. Volcker interviews, July 31, 1989, and November 11, 2013.
179. William L. Silber, “How Volcker Created a Gold Standard Without Gold.”
180. Steve Axilrod interview, October 26, 1990.
181. Paul Volcker interviews, July 31, 1989, and November 11, 2013.
182. Paul Volcker conversation with Lawrence Malkin, April 1985.
183. Paul Volcker interviews, July 31, 1989, and November 11, 2013.
184. Pad 81, April 1, 1980; Paul Volcker interview, November 11, 2013.
185. Paul Volcker interview, November 11, 2013.
186. Pad 81, April 8, 1980.
187. Pad 84, May 7, 1980.
188. Public Papers of the Presidents, Jimmy Carter, 1980–81, Vol. I, March 14, 1980, Anti-Inflation Program Remarks Announcing the Administration’s Program, 482–3.
189. Alfred Kahn interview, August 26, 1989.
190. Paul Volcker interview, November 11, 2013.
191. Paul Volcker interview, July 31, 1989.
192. Ibid.
193. Charles Schultze interview, June 19, 1989.
194. Alfred Kahn interview, October 11, 1981.
195. Charles Schultze interviews, June 19, 1989, and May 17, 2007.
196. Paul Volcker interview, November 11, 2013; Lyle Gramley interview, July 25, 1989.
197. Paul Volcker interviews, July 31, 1989, and November 11, 2013.
198. Pad 41, November 7, 1978.
199. Bill Miller interview, July 28, 1989.
200. Paul Volcker interview, November 11, 2013; Gordon Stewart exit interview, February 13, 1981; Bill Miller interview, July 28, 1989.
201. Paul Volcker interview, July 31, 1989.
202. Alfred Kahn interview, August 28, 1989.
203. John Dunlop, interview with the author, November 7, 1998.
204. Pad 102, December 17, 1980.
205. Jeffrey H. Anderson, “Economic Growth by President,” Hudson Institute, Washington, D.C., August 8, 2016, www.hudson.org/research/12714-economic-growth-by-president, Politicsthatwork.com, BEA, March 29, 2015.
206. Kimberly Amadeo, “U.S. Debt by President: by Dollar and Percent,” The Balance, April 21, 2016, updated November 2, 2017, www.thebalance.com.
207. Joseph Pechman interview, August 3, 1989.
208. Charles Schultze interview, June 19, 1989.
209. Charles Schultze, interviews with author, June 19, 1989, and May 17, 2007; Schultze, Miller Center interview, January 8, 1992.
210. Paul Volcker interview, July 31, 1989.
15. The Consumer Populist
1. Joshua Gotbaum, interview with the author, January 28, 2016.
2. Orin Kramer, interview with the author, October 2, 2013.
3. Staggers Rail Act of 1980, President Carter’s Statement of Signing S. 1946 into law, October 14, 1980, The American Presidency Project, www.presidency.ucsb.edu/us/?pid-45284: Public Papers of the Presidents, Jimmy Carter, 1980–1981, Book III, 2229–31.
4. Alan Greenspan, Testimony before the House Committee on Oversight and Government Reform, One Hundred Tenth Congress, Second Session, Serial No. 110-209, October 23, 2008, http://www.gpoaccess.gov/congress/index.html.
5. Stephen Breyer, interview with the author, November 30, 1992; Mary Schuman Boies, interview with the author, October 16, 2015.
6. Daniel Yergin, “Markets Run into Skepticism—and Regulators,” The Wall Street Journal, July 18, 2016; Alfred Kahn, interviews with the author, August 26, 1989, and October 24, 1989.
7. CAB v. Moss, 139 U.S. Ap Dec 150, 430 F, 2d 891, 1970.
8. Stephen Breyer interview, November 30, 1992.
9. Edward Kennedy, interview with the author, September 11, 1992.
10. Stephen Breyer, “Airline Deregulation Revisited,” Businessweek, January 20, 2011.
11. Mary Schuman Boies, interviews with the author, July 25, 1992, and October 16, 2015.
12. Simon Lazarus interview by Emily Soapes, November 24, 1980; email to author, January 25, 2016.
13. Stephen Breyer interview, November 30, 1992; Alfred Kahn interview, August 26, 1989.
14. The Presidential Campaign of 1976, Jimmy Carter 855 (1978); and Andrew Downer Crain, “Ford, Carter, and Deregulation in the 1970s,” Telecomm & High Tech L. vol. 5, 413–48 (2007); for an excellent discussion of airline and transportation deregulation in the Carter Administration, “Regulatory Reform in the Airline Industry,” Carter campaign document, October 30, 1976, published in Jimmy Carter Campaign Promises (Chicago, CCH Publishing, 1977).
15. Alfred Kahn interviews, August 26, 1989, and October 24, 1989.
16. Mary Schuman Boies interviews, July 15, 1992, and October 16, 2015.
17. Alfred Kahn interviews, August 26, 1989, and October 24, 1989.
18. Pad 9, March 2, 1977.
19. Pad 9, February 21, 23 and March 2, 1977; Pad 31, February 23, 1978; Pad 32, April 17, 1978.
20. Simon Lazarus, conversation and email to the author, January 25, 2016.
21. Simon Lazarus, conversation and email to the author, January 25, 2016.
22. Pad 10, March 10, 1977; Pad 11, March 18, 1977.
23. Pad 12, March 31, 1977.
24. Pad 13, April 9, 1977.
25. Pad 14, April 22, 1977; Pad 15, May 11, 1977.
26. John Robson, interview with the author, October 20, 1992.
27. Alfred Kahn intervi
ews, August 26, 1989, and October 24, 1989.
28. Simon Lazarus, email to author, January 25, 2016.
29. Mary Schuman Boies interviews, July 15, 1992, and October 16, 2015.
30. Public Papers of the Presidents, Jimmy Carter, 1977, Vol. I, March 4, 1977, 277–8.
31. Mary Schuman Boies interviews, July 15, 1992, and October 16, 2015.
32. Pad 33A, May 8, 1977.
33. Mary Schuman Boies interviews, July 15, 1992, and October 16, 2015.
34. Public Paper of the Presidents, Jimmy Carter, 1978, Vol. II, October 24, 1978, 1837–9.
35. Stephanie Rosenblum, “The Incredible Shrinking Airplane Seat,” The New York Times, February 29, 2016.
36. William Shughart, “Airline Deregulation Act of 1978,” The Beacon, October 24, 2014.
37. “Jet Age: 1958–Today,” Delta Air Transport Heritage Museum Magazine, 2007.
38. Airlines for America, Monthly Passenger and Cargo Yield, 2015.
39. Ibid.
40. Stephen Breyer, “Airline Deregulation, Revisited,” Businessweek, January 20, 2011; Mary Schuman Boies interviews, July 15, 1992, and October 16, 2015.
41. GAO study cited in John E. Robson, “Airline Deregulation: Twenty Years of Success and Counting,” Regulation Magazine, Spring 1996.
42. For 2016 employment figures, see www.transtats.bts.gov/employment; for 1998 employment figures, see John Robson, “Airline Deregulation: Twenty Years of Success and Counting,” Regulation Magazine, 19.
43. Alfred Kahn interviews, August 26, 1989, and October 26, 1989.
44. Ibid.
45. Micah Maidenberg, “How Low-Cost Airlines Alter the Economics of Flying,” The New York Times, September 1, 2017.
46. Stephen Breyer interview, November 29, 1992.
47. Public Papers of the Presidents, Jimmy Carter, 1979, Vol. I, March 23, 1979, 459–61.
48. Jerry Ellig, “Keeping Rail Deregulation on Track,” RealClearPolicy, July 20, 2015; Clifford Winston, “The Success of the Staggers Rail Act of 1980,” AEI-Brookings Joint Center, October 2005; “The Impact of the Staggers Rail Act of 1980,” Association of American Railroads, Washington, D.C., 2011.
49. Pad 42, November 25, 1978; Pad 45, January 10, 1979.
50. Pad 43, November 27, 1978.
51. Pad 44, December 13, 1978.
52. Public Papers of the Presidents, Jimmy Carter, 1979, Vol. I, June 21, 1979, “President’s Remarks,” 1114–7, “Message to Congress,” 1117–25.
53. Pad 45, January 3, 1979.
54. Andrew Downer Crain, “Ford, Carter, and Deregulation in the 1970s,” Telecomm & High Tech, vol. 8, 413–48.
55. Thomas Gale Moore, “Trucking Deregulation,” Concise Encyclopedia of Economics, Liberty Fund, 2002; Stephen Morrison and Clifford Winston, “Regulatory Reform of U.S. Intercity Transportation,” Essays in Transportation Economics and Policy, Brookings, 477, eds. Jose Gomez-Ibanez, William Tye, and Clifford Winston, 1999.
56. Diane S. Owen, Federal Trade Commission, Bureau of Economics, Deregulation in the Trucking Industry, 1988, cited in “Trucking Deregulation in the United States,” submission by the United States to the Ibero-American Competition Forum, September, 2007; Thomas Gale Moore, “Trucking Deregulation,” Concise Encyclopedia of Economics, 2002, Liberty Fund.
57. Richard Beilock and James Freeman, “Deregulated Motor Carrier Service to Small Communities,” Transportation Journal (Summer 1984), cited in Ibero-American; “Transportation Deregulation and Safety,” Conference Proceedings, June 23–25, 1987, sponsored by the Air Transport Association of America, American Airlines, Inc., American Trucking Associations Foundation, Inc., ENO Foundation, International Brotherhood of Teamsters, Chauffeurs, Warehousemen and Helpers of America, Motor Vehicle Manufacturers Association, United Airlines, Inc., U. Department of Transportation; joint study by the California Public Utilities Commission and the California Highway Patrol; and a 1987 study by Weinstein and Gross of Southern Methodist University, cited on 7 of Ibero-American.
58. Nancy L. Rose, “Labor Rent Sharing and Regulation: Evidence from the Trucking Industry,” 95 Journal of Political Economy, 1146-78 (1987), cited in Ibero-American Competition Forum.
59. Martha Derthick and Paul Quirk, The Politics of Deregulation (Washington, D.C.: Brookings Institution Press, 1985); Thomas Gale Moore, “Rail and Truck Reform: The Record So Far,” Regulation Magazine, November/December 1988; Organization for Economic Cooperation and Development, International Conference, “Road Transport Deregulation: Experience, Evaluation, Research,” November 1988; Dorothy Robyn, Braking the Special Interests (University of Chicago Press, 1987); Thomas Gale Moore, “Trucking Deregulation,” Library of Economics and Liberty, http://www.econlib.org/library?Enc1/Trucking Deregulation.html.
60. Letter from Richard Neustadt to V. G. Hudson, 3/8/77, White House Central Files, “FG 128, 1/20/77–1/20/81,” Box 184, Carter Presidential Library; Letter from President Carter to Charles Ferris, 4/11/78, White House Central Files, “FG 128, 1/20/77–1/20/81,” Box 184, Carter Presidential Library.
61. Letter from President Carter to Charles Ferris, April 11, 1978, White House Central Files, “FG 128, 1/10/77–1/20/81,” Box 184, Carter Presidential Papers.
62. Charles Ferris, interview with the author, February 16, 2016.
63. Letter from President Carter to Charles Ferris, April 11, 1978.
64. Steve Simmons interview with the author, January 6, 2014, and conversation and email to the author, February 11, 2016.
65. Stuart Eizenstat letter to Charles Ferris, June 16, 1979, White House Central Files, “FG 128, 1/20/77–1/20/81,” Box 184, Carter Presidential Library.
66. Rick Neustadt memo to Stu Eizenstat, February 4, 1979, Domestic Policy staff, Government Reform Neustadt files, Common Carrier Correspondence Folder 6, Box 12, Carter Presidential Library; cited in Crews, 25–6.
67. Presidential Statement to Congress, Reforms to Regulation of Telecommunications, September 21, 1979, Congressional Quarterly Almanac, 1979, 58-E-59-E, Washington, D.C., Congressional Quarterly Almanac, 1980, http://library.cq press.com/cq almanac/cqa/86126160-1182979.
68. Ralph Nader interviews, August 4, 1993, and November 4, 2013.
69. Ralph Nader interview, August 4, 1993.
70. Speech by Jimmy Carter, January 23, 1976, Sam Bleicher Files, Jimmy Carter Presidential Library, Atlanta, Georgia, in “Agency for Consumer Advocacy, Box 31.
71. Ralph Nader interviews, August 4, 1993 and November 4, 2013.
72. Ralph Nader interviews, October 4, 1993, and November 4, 2013.
73. Ibid.
74. Michael Pertschuck, interview with the author, October 26, 1992.
75. Joan Claybrook, interview with the author, June 3, 1991; Michael Pertschuck interview, October 26, 1992; Edward Cohen, interview with the author, February 26, 2016; Ralph Nader interview, August 4, 1993.
76. Ralph Nader interviews.
77. Emily Soapes interview of Esther Peterson, January 5, 1981.
78. Ed Cohen interview, February 11, 2016.
79. Ralph Nader interview, November 4, 2013.
Chapter 16
1. President Gerald Ford speech to National Press Club, October 29, 1975.
2. Roger Altman, interview with the author, January 27, 2016.
3. Pad 8, February 21, 1977.
4. Steven Greenhouse, “Victor Gotbaum, 93, Dies; Labor Leader Helped Rescue New York City in the 1970s,” The New York Times, April 5, 2015.
5. 1976 Annual Report of the New York Municipal Assistance Corporation, Baruch College Library, 4.
6. The Presidential Campaign 1976, Volume One, Part One, Jimmy Carter (Washington, D.C.: Government Printing Office, 1978), 11
9.
7. Orin Kramer, interview with the author, November 2, 2013.
8. Roger Altman, interview with the author, January 27, 2016.
9. Pad 9, March 7, 1977.
President Carter Page 113
