Why Regulate Utilities?: The New Institutional Economics and the Chicago Gas Industry, 1849-1924

Why Regulate Utilities?: The New Institutional Economics and the Chicago Gas Industry, 1849-1924
Автор
 
Год
 
Страниц
 
308
ISBN
 
0472107399
Издатель
 
Chicago University Press
Категория
 
Экономическая теория

Содержание:

Introduction: The Austrian Theory in Perspective, The "Austrian" Theory of the Trade Cycle, Money and the Business Cycle, Economic Depressions: Their Cause and Cure, Can We Still Avoid Inflation?, The Austrian Theory: A Summary

Описание:

Why Regulate Utilities? informs and revises economic thought about regulation and regulatory change. Showing that state regulation governed the behavior of local politicians as well as utilities, it gives empirical muscle to the idea that regulatory commissions act like administered contracts. Synthesizing and extending the new institutional economics, it builds a comprehensive model of institutional change and political economy. A history book, Why Regulate Utilities? promotes sensitivity to a relevant past. Highlighting institutional arrangements once hidden by the shadows of the past, it demonstrates how utility markets operated in the years before state regulation. Emphasizing the importance of historical context, Werner Troesken suggests that producer support for a particular law or regulation need not imply that the law or regulation is inefficient or contrary to the public interest. Using the late-nineteenth- and early-twentieth-century Chicago...

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