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Mario Monti’s parallel universe

The European Commission was severely rebuked by the Court for its refusal to allow Airtours to acquire First Choice. But the verdict of the marketplace, in which Airtours is in desperate straits while First Choice has gone from strength to strength, confirms the wisdom of the Commission's decision: rarely has an anti-trust agency been so comprehensively vindicated by subsequent events.

A missing element

Airtour's landmark victory against the European Competition Commission signals the need for a reform of the system. More funding, and a rethink of what cases should be sent to Brussels are essential

Migration ins and outs

Our understanding of the effects of immigration is often distorted by emotive political arguments. An economic analysis uncovers some interesting questions.

ESRC lecture 1994 – Is There a Competitive Advantage of Nations?

Competitive advantage is based, not on doing what others already do well, but on doing what others cannot do as well. Not only is this true for individuals and for firms, but for countries as well.

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