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Selling Power – Economics, Policy, and Electric Utilities Before 1940 - Chicago Scholarship Online
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Selling Power: Economics, Policy, and Electric Utilities Before 1940

John L. Neufeld

Abstract

Industrial policy frequently seeks to alter an industry’s structure to better align the incentives faced by individual decision makers with the needs and desires of the industry’s consumers. For most industries no structure dominates that of free competition, and intermittent government policy seeks to increase competition. The economic and technical characteristics of electricity supply make such a structure impossible for the electric utility industry. Instead, government involvement has been continuous, not only as regulator, but as owner and operator of a significant proportion of the indu ... More

Keywords: transaction-specific assets, peak load, industrial policy, unintended consequences, industry structure, electric utilities, incentive alignment, history, economic policy, government ownership, business history, National Electric Light Association

Bibliographic Information

Print publication date: 2016 Print ISBN-13: 9780226399638
Published to Chicago Scholarship Online: May 2017 DOI:10.7208/chicago/9780226399775.001.0001

Authors

Affiliations are at time of print publication.

John L. Neufeld, author
University of North Carolina at Greensboro