Legal Perspectives and Regulatory Philosophies on Natural Monopolies in the United States and Germany
University of Miami - School of Law
May 4, 2012
Günther Schulz/Mathias Schmoeckel/Will J. Hausman (2012): Regulation Between Legal Norms and Economic Reality: Intentions, Effects, and Adaption - The German and American Experiences, Mohr Siebeck, Tübingen
University of Miami Legal Studies Research Paper No 2012-09
The paper, a contribution to an interdisciplinary project bringing together scholars from the fields of history, economics and law from Germany and the United States, addresses the regulatory philosophies that underpin the regulation of the electricity markets in Germany and the United States. It challenges the traditional narrative that characterizes the United States as having a laissez-faire approach to regulation, while Germany (and with it most European countries) operates under a more state-driven model. This description blurs two concepts: liberalization and deregulation.
Starting soon after the invention of electricity in the 19th century, regulatory models emerged in both countries - oftentimes building on previous experience with railroads - that emphasized the public role that the electricity industry plays in modern societies. The paper traces the history of political thought in both countries from the beginning of electricity regulation until today, concluding that the example of network industries shows convergence rather than divergence.
Number of Pages in PDF File: 24
Keywords: comparative law, Germany, U.S., United States, electricity, network industries, natural monopolies
JEL Classification: B10, B20, H10, H40, H41, H54, L12, L13, L33, L41, L42, N10Accepted Paper Series
Date posted: May 5, 2012 ; Last revised: October 21, 2012
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