What is a common carrier? When I was picked to find the definition of this economics term I was unsure of its meaning. The first few definitions I found were pretty scarce but after some research I found that a common carrier is a transportation method in which either goods or people are transported. According to a more formal definition of common carrier it is “Transporter who holds himself out to the general public for the transportation of goods over a definite route and according to a regular schedule.” Some examples of these transportations are taxis, buses, garbage trucks,and tow services who have a set time in which they pick people up or gather goods. The emphasis in this definition is the “general public because these common carriers are open to anyone. Realizing what this meant made me understand my day to day routine and just how often I and many other people use “common carriers”
We’ve all dealt with common carriers before weather that ranges from airplanes to even credit card companies. Not all common carriers are modes of transportation such as a common carrier at a credit card company. While researching I found that a common carrier on a credit card is coverage for if your bags get lost or stolen during a flight the credit card company will be able to replace them. This policy is called a common carrier because if the customer loses the luggage on a mode of common carrier such as an airplane the public company, in this case the credit card will be able to reimburse their bags. This common carrier also relates to airlines and some private carrier taxis and transportation services. A private carrier is a goods and transportation unit not open to the general public either because the cost of running is lower or more convenient for the transportation of goods and services.
As told by one of my research sources, “By the common law a common carrier is generally liable for all losses which may occur to property entrusted to his charge in the course of business, unless he can prove the loss happened in consequence of the act of God, or of the enemies of the United States, or by the act of the owner of the property.” Most common carriers in the United States follow these guidelines,some rules of the common law carrier system are different. Such as in Louisiana they follow the doctrine of the civil law. Common carriers that are strictly to carry passengers on the ground and carry goods are responsible for the loss of goods. In other states and areas the rules and laws may be different such is the patron will be responsible for the loss of their goods.
Researching this economics term I was able to determine just how many common carriers I interact with on a day to day basis. I also was able to get information I was not knowledgeable of beforehand such as the rules and regulations of common carriers and the laws that protect the patrons who lose their items during travel. I think these modes of transportation of goods and people are very important to keep the economic standing around the globe by allowing employment to those who are willing to transport people and the goods and services they need.