What regulated industry was the CAB patterned from? Why did Congress not trust the free market to…

What regulated industry was the CAB patterned from? Why did Congress not trust the free market to discipline the U.S. airline industry? What did the CAB regulate? Why? Did the CAB allow airlines to compete on price? Airline fares have declined in real terms since the introduction of the Douglas DC-3 throughout the regulated era. What has enabled this decline

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