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Outside football league table tells us all we need to know

League tables are in vogue, and despite the difficulties they seem worthwhile. If only it were easy to produce a “value added” table.

Question of duty

It is not satisfactory that the Hampel Report can only offer an account of directors’ duties which is confusing and fundamentally incoherent.

Time to let go

The “regulation” of the banking industry is more like “supervision”. The difference is more than semantic, and the result is less than satisfactory.

Called to account

What are the responsibilities of Shell to society at large? There is a simple answer - and it’s wrong.

Private finance initiative

Public investment is now prioritised according to whether it can be disguised by the private finance initiative: Goodhart’s Law has come into play once again.

Now mind the gap

The Bank of England should get on with the job of setting interest rates and other monetary activities, and be held accountable for how well it performs. Instead, everyone wants to retain control over decisions while shedding responsibility for outcomes.

Sharing responsibility is to pass the buck

Taking decision making powers without also taking responsibility means that nobody is really responsible at all – as Michael Howard has ably demonstrated.

The Customer Corporation

The stakeholding view of the nature and purposes of corporations applies most forcefully to monopoly public utilities. This essay analyses some of the problems of utility regulation and proposes a stakeholding alternative.

Cracks in the Crystal Ball

Economic forecasters tend to say the same thing at the same time, but they rarely get it right.

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