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- Title
PUBLIC UTILITY RATE MAKING IN DEPRESSION: A COMMENT.
- Authors
Sumner, John D.
- Abstract
This article focuses on the methods employed by the U.S. State public utility commissions in attempting to lower rates during economic depression. Probably the more important of these is the statement that, while regulation did not function perfectly, it was nevertheless so successful in lowering rates that no "great injustice" was done to consumers and, at the same time, companies were sufficiently protected from losses so that their "financial stability" was not impaired. Thousands of rate situations confront commissions, and in times of rapid economic change there is at least a presumption that rate adjustment of some sort is called for. The very number of devices used or attempted by commissions in order to effect rate reductions suggests that great difficulties were being encountered in achieving desired results. The amount of time absorbed in treading uncertain ground may well have made it extremely difficult to obtain significant results over a substantial portion of the regulatory front.
- Subjects
UNITED States; DEPRESSIONS (Economics); BUSINESS cycles; PRICE deflation; FINANCE; PUBLIC utilities
- Publication
Quarterly Journal of Economics, 1938, Vol 52, Issue 4, p713
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1885043