Abstract

Public Futility Regulation
White, E. Michael | May 3, 1933 issue

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The ability of the public-utilities monopoly to keep rates up to the 1929 level has been one of the bright spots in the depression--that is, bright for the companies. It is a major problem for the consumer with a reduced income. In the three and a half years since November, 1929, all other prices have dropped with unbelievable rapidity to unbelievably low levels. This drop in prices has been accompanied by reduced incomes. Why have utility rates escaped the deflationary process? The answer is that the purchaser of a competitive product or service is at the mercy of the law of supply and demand.

See Also:

PUBLIC utilities; INCOME; MONOPOLIES; DEMAND (Economic theory); DEFLATION (Finance); CONSUMERS
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