The Interstate Commerce Commission (ICC), established in 1887, was the first independent regulatory agency created by the U.S. federal government. Its primary goal was to regulate the railroad industry, specifically addressing issues of unfair pricing practices, discrimination against small shippers, and monopolistic behaviors. The intention was to ensure fair rates and prevent exploitation, fostering a more equitable economic environment.
The creation of the ICC marked a significant shift in the role of government in the economy, recognizing the need to protect public interests from the potentially abusive power of large corporations. However, despite its initial promise, the commission faced numerous obstacles in achieving its regulatory objectives. Early enforcement attempts were frequently met with resistance from the powerful railroad companies, which possessed significant financial and legal resources.
