Abstract
Publicly-controlled industries could be defined as all those in which price, outputs, or profits are significantly altered by government policy. Government policies range from subsidy through prohibition. Control is a variant of the power to tax, if taxes can take any negative or positive values, and if two or more taxes can be applied to the same industry at the same time. This definition is useful but perhaps fatally broad. There is also the difficulty that even elegant controls may have no significant effect, or be neatly offset by still other controls. Yet it is clear that effects are what count; and, though it is difficult, the end result should be to establish what they are.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
Paul W. MacAvoy, Price Formation in Natural Gas Fields, Yale University Press, 1962, p. 16 (footnote).
Robert W. Gerwig, Natural Gas Production: A Study of Costs of Regulation, Ph.D. dissertation, Graduate School of Business, University of Chicago, 1963, pp. 15, 16.
FPC Opinion No. 225, In Re Atlantic Seaboard Corp. et al., Docket Nos. G-1384, G-1175. The rule is analysed in great detail in Stanislaw Wellisz, ‘Regulation of Natural Gas Pipeline Companies: An Economic Analysis’, Journal of Political Economy, 1963, pp. 30–43. See also Ralph K. Davidson, Price Discrimination in Selling Gas and Electricity, Baltimore, Md., 1955, p. 145.
For the period before 1938, see, for example, I. Leo Scharfman, The Interstate Commerce Commission, in 5 volumes. For later developments see Ernest W. Williams, Jr., The Regulation of Rail-Motor Rate Competition, New York, 1958;
James C. Nelson, Railroad Transportation and Public Policy, Brookings, Washington, 1959;
John R. Meyer, Morton J. Peck, John Stenason, and Charles Zwick, The Economics of Competition in the Transportation Industries, Cambridge, Mass., 1959.
‘Interstate Trucking of Fresh and Frozen Poultry under Agricultural Exemption’, Marketing Research Division, Agricultural Marketing Service, Market Research Report No. 224 (19S8), p. 1; ‘Interstate Trucking of Frozen Fruits and Vegetables under Agricultural Exemption’ (same series as reference above), No. 316 (1959), p. 1; George W. Hilton, ‘Transportation Regulation and Private Carriage’, in a Conference Proceedings volume, Private and Unregulated Carriage (Evanston: Northwestern University Transportation Center, 1963), pp. 13–31; and ‘Barriers to Competitive Rate-making’, ICC Practitioners’ Journal, xxix (1962), 1083–1096. I am indebted to Professor Hilton for pointing out these references.
Author information
Authors and Affiliations
Editor information
Copyright information
© 1966 International Economic Association
About this chapter
Cite this chapter
McGee, J.S. (1966). Pricing in Publicly-Controlled Industries: U.S.A.. In: Hague, D. (eds) Price Formation in Various Economies. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08467-8_5
Download citation
DOI: https://doi.org/10.1007/978-1-349-08467-8_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-08469-2
Online ISBN: 978-1-349-08467-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)