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U.S Public Policy Toward Network Industries

Author

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  • 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.

Suggested Citation

  • White, L.J., 1996. "U.S Public Policy Toward Network Industries," Working Papers 96-06, New York University, Leonard N. Stern School of Business, Department of Economics.
  • Handle: RePEc:ste:nystbu:96-06
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    More about this item

    Keywords

    PUBLIC POLICY; REGULATION; NETWORKS;

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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