Tag: Regulation

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”?

Regulated businesses face almost all of the strategy issues which confront conventional firms, and some additional ones that are specific to their own environment. As deregulation spreads across Europe, the gap between those firms which handle these specific issues effectively and those which respond to regulation and regulatory changes with hostility, complacency or defeatism will widen rapidly.

You can be responsible to people to whom you are not accountable; and you can deal with interlocking and conflicting responsibilities. Why do so many thoughtful people fail to realise this?

As All England Club strives once more to foil ticket touts, the professional economist views the idea of the “just price” with patronising and detached amusement. But is he right?

In this talk, John describes some of the differences between an economic approach to regulation - concerned with indentifying market failures - and how markets mechanisms can be best adapted to deal with them. He contrasts this with the legal style of regulation which has been the historic basis of monitoring financial services. The conclusion is that we might manage our financial services better if, in inventing the regulation, the role of economists were greater.

Regulation by rules is all very well; regulation by values is indispensable.

Great size is a warning of trouble ahead in the banking industry; and the trouble may be for the taxpayer as much as the shareholder.

Should regulations be clear, transparent and certain? To answer the question one must recognise the importance of informal systems of cultural regulation.

The management and governance of LIFFE is not an easy job. Exchanges are natural monopolies, and provide benefits which are valuable only in what they make possible.

When is a price cut bad for consumers? When it is predatory.