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4 results

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

  • William M. Emmons III
  • Journal:
    The Journal of Economic History / Volume 53 / Issue 4 / December 1993
    Published online by Cambridge University Press:
    03 March 2009, pp. 880-907
    Print publication:
    December 1993

  • 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.