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Franklin D. Roosevelt, Electric Utilities, and the Power of Competition

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  • Emmons, William M.

Abstract

Historical verdicts on the economic effects of Franklin D. Roosevelt's New Deal have been decidedly mixed. This article examines the New Deal's impact on the electric utility industry. In contrast to Roosevelt's cartel-like policies toward other sectors, his approach to the electric utilities involved the infusion of various forms of direct and indirect competition. Statistical evidence and econometric analysis suggest that Roosevelt's procompetitive strategy produced superior outcomes relative to traditional “natural monopoly†approaches to electric utility regulation.

Suggested Citation

  • Emmons, William M., 1993. "Franklin D. Roosevelt, Electric Utilities, and the Power of Competition," The Journal of Economic History, Cambridge University Press, vol. 53(4), pages 880-907, December.
    • Handle: RePEc:cup:jechis:v:53:y:1993:i:04:p:880-907_05
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    Cited by:

    1. Vincent Geloso & Germain Belzile, 2018. "Electricity in Quebec before Nationalization, 1919 to 1939," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 46(1), pages 101-119, March.
    2. Montgomery van Wart & Dianne Rahm & Scott Sanders, 2000. "Economic Development and Public Enterprise: The Case of Rural Iowa’s Telecommunications Utilities," Economic Development Quarterly, , vol. 14(2), pages 131-145, May.
    3. Savitski, David W., 2001. "Initial state regulation of investor-owned utilities," Energy Economics, Elsevier, vol. 23(6), pages 683-695, November.
    4. Pardey, Philip G. & Alston, Julian M. & Ruttan, Vernon W., 2010. "The Economics of Innovation and Technical Change in Agriculture," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 2, chapter 0, pages 939-984, Elsevier.
    5. Savitski, David W., 2003. "Ownership selection in the US electric utility industry," Utilities Policy, Elsevier, vol. 11(4), pages 203-223, December.
    6. Alston, Julian M. & Pardey, Philip G. & Ruttan, Vernon W., 2008. "Research Lags Revisited: Concepts and Evidence from U.S. Agriculture," Staff Papers 50091, University of Minnesota, Department of Applied Economics.

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