ABSTRACT
Clarence Ayres emphasizes that the driving force of the mental processes that generate ideas become the point of departure for changes in structural institutions. As to the resource efficiency and conservation argument, one must realize that this is a period of excess capacity, and that peak vs. off-peak pricing is more of a blackboard consideration than a choice of resource commitment in the real sense. Allan Gruchy makes clear that institutionalists and neoinstitutionalists have differed in their approach to the social control of business, and in their choice of the economic system to promote the public welfare different responses to this problem have been made by institutionalists and neoinstitutionalists. To offset the effects of corporate concentration institutionalists in the 1930s turned to national planning as the appropriate framework for both antitrust action and public utility regulation. Faced with rising prices and stagnating incomes, consumers drastically reduced their demand for electric power.
