Strictly a specialized analysis - from a respected source - of the
effects of 1970s government energy policies. Yale economist MacAvoy
has written on energy-price mechanisms and government regulatory
problems since the 1960s; he also contributed (while at MIT) to the
important 1974 MIT Energy Self-Sufficiency Study. But the problem
with his book, for non-specialists, is that it argues - in
eye-glazing, repetitive official report-ese - what Storbaugh and
Yergin's Energy Future (Rev. ed.) puts in a few cogent paragraphs:
"price-control responses to supply scarcity worsened market
conditions for all concerned." MacAvoy, it is true, offers a
detailed analysis of the phenomenon, Act by Act and regulation by
regulation, also contrasting normal- and short-supply periods. His
extensive discussion of natural gas policy looks beyond the present
supply/demand equilibrium to excess demand "just as price controls
are supposed to be phased out. . . in 1985." He also links
deteriorating service by the electric and gas companies to their
"regulatory problems" - higher costs, insufficient price increases
- and, finally, decries the regulations that deter the electric
utilities from shifting to coal. MacAvoy's analysis, indeed, takes
on a distinctly pro-business, supply-side cast before it's through
- as contrasted with Storbaugh and Yergin's public-service,
no-miracle-solution orientation. (Kirkus Reviews)
These shocks produced and immediate and strong regulatory reaction
by US policy makers. More new regulations were instituted for
energy markets in the 1970s than for any other product in the
economy. How effective was this upsurge in energy policy? MacAvoy,
a former member of the Council of Economic Advisers, examines these
regulations and policies: their goals, their implementation, their
success, and their costs to the economy.
General
Imprint: |
W W Norton & Co Inc
|
Country of origin: |
United States |
Release date: |
September 1983 |
First published: |
September 1983 |
Authors: |
Paul W MacAvoy
|
Dimensions: |
211 x 140 x 18mm (L x W x T) |
Format: |
Paperback
|
Pages: |
224 |
Edition: |
Revised |
ISBN-13: |
978-0-393-95321-3 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
0-393-95321-1 |
Barcode: |
9780393953213 |
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