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U.S Public Policy Toward Network Industries

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Author Info

  • White, L.J.

Abstract

Industries that have important network features have long been a concern of public policy in the United States. Network industries often embody two major and widely recognized form of potential market failure: significant economies of scale (with the potential of monopoly) and externalities. The policy concerns, however, have often yielded misguided public policy -- innefficient and anticompetitive regulation and government ownership of network industries. The economic deregulation in the late 1970s and early 1980s of a number of network industries -- air and surface transportation, natural gas pipelines, and telecommunications-- was a welcome reversal of policy, but much more remains to be done.

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Bibliographic Info

Paper provided by New York University, Leonard N. Stern School of Business, Department of Economics in its series Working Papers with number 96-06.

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Length: 47 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:ste:nystbu:96-06

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Postal: New York University, Leonard N. Stern School of Business, Department of Economics, 44 West 4th Street, New York, NY 10012-1126
Phone: (212) 998-0860
Fax: (212) 995-4218
Web page: http://w4.stern.nyu.edu/economics/
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Keywords: PUBLIC POLICY; REGULATION; NETWORKS;

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