Tag: Regulation
Look and learn from Enron
Some major lessons can be learnt from Enron's collapse. Here they are, in an easy to remember list
Stiffening the auditors’ backbones (written with Bryan Carsberg)
The debacle of Enron has shaken core assumptions about auditors and auditing . A new accounting standards body needs to be appointed to maintain the integrity of corporate reporting.
A watchful eye
Enron's swift slide to bankruptcy poses important questions on the regulation of electricity markets
The risks of Railtrack
Lessons can be learnt from Railtrack’s failure. The government should re-appraise how projects should be financed and managed in the future.
A valuable lesson from fish and forests
Some economists argue that establishing clear property rights to resources is a key to economic success. But the Indonesian state’s attempt to reform ownership of the country’s forests has led to environmental catastrophe.
The roots of pluralism
Dominant companies may confer marginal benefits to consumers that are difficult, if not impossible, to estimate. However, antitrust authorities will do little wrong if they stick to the underlying principles of competition policy.
Get back on the rails
Whilst both the government and the market plays ever closer attention to the dismal performance of Railtrack it is worth asking why a separate track authority was needed in the first place. Given that the financial case is so compelling, how might Railtrack now be renationalised so as to achieve autonomy with real accountability?
How to manage blame
Managers are unavoidably charged to balance the benefit of innovation with the risks of new processes, and to do this well. But the disastrous effects of asbestos manufacture and BSE indicate that markets and regulation are not helping.
Of gas and cell phones
The alleged success of the British mobile phone auctions in raising revenue for the government poses many questions about the desirability of licences and auctions in general. John's article examines the underlying logic of auctions and suggests that the current enthusiasm may be misguided