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Public Utility Valuation - Cost Of Reproduction Theory And The World War, Edwin C. Goddard
Public Utility Valuation - Cost Of Reproduction Theory And The World War, Edwin C. Goddard
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The very grave objections to the cost-of-reproduction theory of valuation of public utilities was pointed out at large in 15 MICH. L. REV. 205. The violent price changes following the World War have greatly increased the weight of these objections to calling anything a base which rests on such uncertainties and fluctuations as cost-of-reproduction. A base should be stable, but this has the stability Of a flying machine. There had been a rising curve of costs from 1893 to 1916, but since that date the rise has been almost vertical. The public utilities by- the thousands desire to take advantage …