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Taxation by Regulation
Abstract
Students of the regulated industries often assume that regulation is designed either to approximate the results of competition or to protect the regulated firms from competition. But neither view explains adequately a number of important phenomena of regulation and regulated industries. Foremost among them is the prevalence of "internal subsidies, " whereby unremunerative services are provided, sometimes indefinitely, out of the profits from other services. To understand this phenomena, we must assign another important purpose to regulation: we can call it "taxation by regulation." The purpose of this paper is to explore the dimension of the regulatory process, to demonstrate that it explains some otherwise perplexing features of the process and the industries subject to it, and to compare it with other methods of public finance.
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“several of these new responsibilities appear to be examples of “taxation by regulation” (Posner, 1971)—in the sense that the costs that are associated with meeting these new responsibilities are passed through to electricity customers in non-bypassable and non-transparent distribution delivery charges while they could instead be funded through state and federal taxation.”
From The Expansion of Incentive (Performance-Based) Regulation of Electricity Distribution and Transmission in the United States (2024) · cites this paper as Posner, 1971
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References 19 · Cited by 504
Metadata
- Authors
- Posner, R. A.
- Corresponding author
- Posner, Richard A.
- Venue
- The Bell Journal of Economics and Management Science
- Publisher
- JSTOR
- Published
- 1971
- Volume
- 2
- Issue
- 1
- Pages
- 22
- ISSN
- 0005-8556 (ISSN-L)
- OpenAlex
- W1515887967
- Cited by
- 504
- References
- 19
- Citations by year
- 2026: 2 · 2025: 6 · 2024: 5 · 2023: 6 · 2022: 12 · 2021: 10 · 2020: 9 · 2019: 5 · 2018: 11 · 2017: 12 · 2016: 8 · 2015: 10 · 2014: 14 · 2013: 8 · 2012: 12
- FWCI
- 31.36
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- The Bell Journal of Economics and Management Science (publishedVersion)
- bepress Legal Repository (submittedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Legal and Constitutional Studies
- Social Sciences › Public Administration › Regulation and Compliance Studies
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic and Fiscal Studies
- Keywords
- regulated industries, public finance, regulatory process, competition and regulation
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