Both the leading candidates for the leadership of Britain’s opposition Labour party have now committed themselves to renationalising the country’s railways. But the state-owned British Rail was one if the most reviled institutions in the UK, and privatisation has delivered many relative benefits.
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19 August 2015, Financial Times
29 July 2015, Financial Times
The Greek crisis is not simply the result of Athens’ inept public administration but also of an extensive carry trade on eurozone convergence by northern European banks, notably in France and Germany, which obtained short-term profits by matching northern eurozone liabilities with southern eurozone assets. For every foolish borrower there is usually a foolish lender.
01 July 2015, Financial Times
Projects acquire political momentum of their own. The original rationale is forgotten, if indeed it ever existed. And so it has been with HS2, the project to build a high-speed rail link from London to Birmingham and then to the north of England.
22 October 2014, Financial Times
There are good reasons for state action in areas of business misconduct. But announcing ad hoc measures against companies in the news is the wrong way.
09 July 2014
Concepts of fiduciary obligation have been watered down in the modern financial services sector. It is time to reverse that.
14 May 2014
The failures of the Coop provide insights into common management problems in not for profit institutions – including Oxford University.
01 April 2014, Financial Times
Whatever initial misconceptions spin doctors may promote, reality will out.
08 January 2014, Financial Times
When the sea defies mankind’s efforts to keep it in place, the shore people want these costs, too, to fall on the public at large.
18 December 2013, Financial Times
To say comparisons of academic performance are always imperfect and open to revision is not to say they cannot be made at all.
11 December 2013, Financial Times
Although transactions with low probability of large loss and high probability of small gain carry the potential for disaster, they can appear attractive for a very long time – perhaps for ever.
14 January 2011, Scottish Affairs
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