The TVA Idea

06/15/1949 Dean Russell

Tags: Big Government, Taxes and Spending

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From the author:

The issue of government ownership of the means of production is no longer open to discussion in Russia. That issue was decisively settled by revolution.

The issue of government ownership of the means of production is still open to discussion here in America. This study is dedicated to that discussion.

Obviously, in a short study, one cannot examine all forms of government ownership in America. Thus it becomes necessary to select a specific example of government in business. Since this is the case, why not choose an industry that is in great danger of complete nationalization — the electrical industry? And within the electrical industry, why not concentrate on the government project that enjoys the highest degree of popular support — the Tennessee Valley Authority?

This study of TVA logically falls into two parts. First, what is the monetary cost of TVA? Second, what are the social, political and economic consequences of the TVA idea?

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Meet the Author

Dean Russell

Dean Russel was a member of the staff of The Foundation for Economic Education, where he wrote for The Freeman, promoted the work of Ludwig von Mises, and translated the writings of Frédéric Bastiat.

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The original leftists wanted to “abolish” government controls over industry, trade, and the professions. They wanted wages, prices, and profits to be determined by competition in a free market, and not by government decree. They were pledged to free their economy from government planning, and to remove the government-guaranteed special privileges of guilds, unions, and associations.

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06/15/1959 Dean Russell

During the early history of the automobile industry, practically every part of the car was produced by the independent manufacturers of parts. The automobile companies merely assembled the parts into a complete car. And as often as not, it was the

The TVA Idea

06/15/1949 Dean Russell

From the author: The issue of government ownership of the means of production is no longer open to discussion in Russia. That issue was decisively settled by revolution. The issue of government ownership of the means of production is still open to

View Dean Russell bio and works

References

The Foundation for Economic Education, New York, 1949

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