What is Fair a Study of Some Problems of Public Utility Regulation

Cover What is Fair a Study of Some Problems of Public Utility Regulation
What is Fair a Study of Some Problems of Public Utility Regulation
William G William Galt Raymond
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Perhaps this would be a nice question of econom- ics to discuss, were it not that it is pretty well settled by the fact that there have been numerous failures of first efforts in developing public utility properties and not all of them chargeable to improper financial manipulation, or defective ac- counting.
Must not the conclusion of the matter be that the " fair return " on the "fair value " of a public utility property, that the courts have talked about so much and have judged to be the righ
...t of every public utility corporation to earn, means any return the corporation can earn by honorable methods when operating freely without rate regulation, so long as it does not exceed on the reasonable investment the rate of return expected by the man 110 WHAT IS FAIR or corporation of average success in other business of equal risk and magnitude. And may not the rate exceed this aver- age successful rate if thereby incentive is given to develop economies in which the public may share?
Is there any other fair conclusion to reach so long as there are no guaranteed minimum earnings?


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