Brief History of Market Regulation Primarily from the Point of View of Price Regulation

András Sugár ()
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András Sugár: Department of Statistics, Corvinus University of Hungary

Society and Economy, 2011, vol. 33, issue 2, 321-345

Abstract: This paper discusses the brief history of market (price) regulation of electricity and gas. The fight against monopolies has a history of more than 100 years in the USA. In this article, I focus on price regulation, which represents a narrower section of regulation. In the paper I discuss the phases of this regulation: Appearance of anti-monopoly combat; New Deal and the welfare state (and the concept of welfare state in Hungary in the nineties); Liberalisation; Bargaining and agreement. The old definition of regulation is modified in the following way: regulation democratically controls the prices, sales, and production of companies, and influences these in order to achieve certain social objectives.

Keywords: political economy of price control; price-cap (search for similar items in EconPapers)
JEL-codes: B22 D42 D78 (search for similar items in EconPapers)
Date: 2011
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