Brief history of market regulation primarily from the point of view of price regulation

This paper discusses the brief history of market (price) regulation of electricity and gas. The fight against monopolies has a history of more than 100 years in the USA. In this article, I focus on price regulation, which represents a narrower section of regulation. In the paper I discuss the phases...

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Bibliographic Details
Published in:Society and economy 2011-08, Vol.33 (2), p.321-345
Main Author: Sugár, András
Format: Article
Language:English
Subjects:
19th century
20th century
Aviation regulation
Business structures
Cartels
Clayton Antitrust Act 1914-US
Commercial regulation
Economic development
Economic history
Economic policy
Economic regulation
Economists
Electricity
Energy and Environmental Studies
Federal regulation
GDP
Great Depression
Gross Domestic Product
History of Law
Law on Economics
Liberalization
Lobbying
Monopolies
Monopoly
National Economy
New Deal
Political economy
Price regulation
Price regulations
Principles
Public utilities
Society
Studies
Supply
Wage & price controls
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Summary:This paper discusses the brief history of market (price) regulation of electricity and gas. The fight against monopolies has a history of more than 100 years in the USA. In this article, I focus on price regulation, which represents a narrower section of regulation. In the paper I discuss the phases of this regulation: Appearance of anti-monopoly combat; New Deal and the welfare state (and the concept of welfare state in Hungary in the nineties); Liberalisation; Bargaining and agreement. The old definition of regulation is modified in the following way: regulation democratically controls the prices, sales, and production of companies, and influences these in order to achieve certain social objectives.
ISSN:1588-9726
1588-970X
DOI:10.1556/SocEc.33.2011.2.5