Bücher von Paul W. MacAvoy

In recent years, government regulation of industry has had effects throughout the economy. What began nearly a century ago as a single federal agency to curb monopolistic practices of utilities and railroads has become a maze of commissions applying pricing or investment constraints on industries both with and without monopoly power.

As prices stayed at low levels, while those of other materials recovered over the 1983-1986 period, the question became that of why metals prices had remained at startlingly low levels for over five years.