ABSTRACT
As we have observed in Chapter 3, British transport policy exhibited an increasing reliance on the market mechanism as a means of determining the allocation of resources within the sector during the sixties. Competition was encouraged in the belief that operators would thus be required to produce, at the lowest possible cost, the services which the public required. Or, to put it another way, consumers would be able to select the service with that combination of cost and qualitative characteristics which gave them greatest satisfaction.
