The article contains a review of those views which had paved the way for a critical attitude toward the concept of functioning of the public utilities sector dominating In US economic theory and practice and growing IncreasingI у more intensive since the late fifties. The main emphasis has been placed In the article on the role of the pricing mechanism, which Is a crucial element of this concept. The author intends to prove that two factors lay at the foundations of the critical attitude and ensuing demand for "commercialization"of this mechanism. These factors were: a conviction about failures of the previous price-regulation practice (In the light of theoretical assumptions) becoming more and more common, and development of theoretical studies on assumptions and consequences of the state intervention in the price-fixing process.
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