Part 51 (1/2)

(c) the extension of Federal control authorized under the Act of 1920.

18. What is the greatest problem now before the Commission?

REQUIRED READINGS

1. Williamson, _Readings in American Democracy_, chapter xxviii.

Or all of the following:

2. Ely, _Outlines of Economics_, chapter xxvii.

3. Fetter, _Modern Economic Problems_, chapters xxvii and x.x.x.

4. King, _Regulation of Munic.i.p.al Utilities_, chapter i.

5. Seager, _Principles of Economics_, pages 419-431, and chapter xxiv.

QUESTIONS ON THE REQUIRED READINGS

1. What is meant by Transportation Economics? (Ely, page 557.)

2. Explain clearly why public utilities are natural monopolies.

(Seager, pages 419-426.)

3. What is the origin of the right to regulate public utilities in the public interest? (King, page 4.)

4. Why must munic.i.p.al utilities be regulated or controlled? (King, pages 11-16.)

5. What is the relation of unregulated munic.i.p.al utilities to bad politics? (King, pages 17-19.)

6. What are the legal duties of corporations controlling munic.i.p.al utilities? (King, page 10.)

7. What forms may munic.i.p.al owners.h.i.+p take? (Fetter, pages 461-462.)

8. How does uniformity of product favor monopoly? (Fetter, page 463.)

9. Why did the railroads receive liberal help from state and Federal governments during the period of railroad development? (Fetter, page 413.)

10. Distinguish between local and personal discriminations. (Fetter, pages 416-417.)

11. Discuss the nature of the early state railroad commissions.(Fetter, pages 420-422.)

12. In what respects was the Interstate Commerce act amended by the legislation of 1903, 1906 and 1910? (Seager, pages 442-443.)

13. What was the nature of the Commerce Court? (Seager, page 444.)

14. What is the most convincing argument against the public owners.h.i.+p of the telegraph and the telephone? (Seager, page 445.)