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Free Books / Finance / Outlines of Public Finance / | ![]() |
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40. The Regulation of Private Industry Is an Item of Increasing Importance |
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This section is from the "Outlines of Public Finance" book, by Merlin Harold Hunter. Amazon: Outlines of Public Finance.
The reaction from the laissez-faire policy is becoming more and more marked. This increased government interference means an increasing expense. It is found in the different political units, but is perhaps more marked in the Federal and state governments. The expenses of the Interstate Commerce Commission, with its numerous hearings and investigations in regulating interstate traffic, are not inconsiderable. The activities of the Federal Trade Commission, and of the continued increase in the amount of government inspection of privately produced goods, are other examples of the growing importance of this service by the Federal government.
This service of regulation is augmented and extended by the state governments. In the majority of states public utility commissions seek to secure for the public a satisfactory service at a reasonable rate from the various public service enterprises. Here again numerous costly hearings and investigations are necessary. Systems of inspection are found in varying degrees in all the states. Among the most common are factory inspectors, food inspectors, and oil inspectors. Cities often have inspectors of various sorts to carry out provisions of ordinances, such as investigating market, light, or street conditions. A part of their regulatory expenses is met by other political divisions, as the regulating of utilities companies through the state commission. This class of expenditure will doubtless be of growing importance as the public continues to become more exacting.
 
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