Water companies not built to float
Water companies are unloved by their customers and by the market. The privatisation settlement was essentially flawed. Kelda's initial proposals have now been abandoned, but a version of them deserves to succeed.
Broken but better: Monopoly companies should not resist being dismantled by government
As Microsoft faces being broken up, Bill Gates should take heart from the lesson of history: the biggest beneficiaries of anti-trust break-ups have often been the companies being "punished".
Mechanics of the market
Efficient markets make money for market participants, but not for market makers. That is something the enthusiastic promoters of B2B exchanges have yet to understand.
Cloud cuckoo land’s costly logic
The mobile phone spectrum auctions are part of a long tradition of governments deriving revenue from allocating scarce resources. In this case, no juster tax has ever been imposed.
Downside of regulation
There are many things wrong with British banks, but contrary to the Cruickshank Report, the fact that they make profits is not one of them.
Spanner in the works
The proposal to extend the Droit de Suite amounts to a subsidy of successful artists by unsuccessful ones.
A heavyweight metal
Steel production receives a disproportionate amount of attention from politicians and the media. This obsession is deep rooted and illogical.
Bars now offer drinks all round
The Beer Orders proposed greater competition in the brewing industry. The results surprised them, but competition sometimes benefits customers in unexpected ways.
Companies have it both ways
Whose interests are served by waves of mergers and demergers?
Steer clear of muddy waters
Pfizer, Warner-Lambert and American Home Products are flirting with each other - but does it really make sense to talk about a “market for pharmaceuticals”?