LAW 5073:
The Wreck of Penn Central: A Legal History of Railroads
Spring 2027 • Section 21
Course Description
This course is about the transformation of business and law in the United States from the middle of the 19th Century to (more or less) the present through the lens of a particular industry—railroads—and perhaps the most spectacular failure in that industry and in business history: the Penn Central railroad. The Penn Central Railroad declared bankruptcy in 1970, two years after it was created by the unhappy merger of the Pennsylvania Railroad and the New York Central Railroad, two of the great roads in American history. The bankruptcy was the largest of its kind, and it, the merger that preceded it, and the legal, regulatory and political maneuvering that followed had profound effects on virtually every aspect of the economy. From bankruptcy to antitrust, to land use, to labor, to transportation, to the role of government in managing technological and industrial change, Penn Central and its bankruptcy—all based in Philadelphia—had lasting effects across domains of law. The case also foreshadowed more modern debacles in which government and private industry interacted in complex and problematic ways, including such recent examples as the Purdue Pharma bankruptcy and the auto-industry bankruptcies in the financial crisis of 2008. This writing seminar will investigate the various legal and regulatory touch points of this massive debacle.
Schedule
| Day/Time | Location |
|---|---|
| W 1:10-3:00 PM | TBA |
Registration Info
Registration Notes
Students should use CRN [53416 Current Topics] for registration purposes only. This course is being created in the Course Iventory System - this will take a month or two. Students will be transferred to a new CRN at a later date when course becomes available.
Book List/Materials
Materials To Be Announced