For much of the post-war period in the UK, individuals were allowed to use private pension provision to replace part of their state pension. This system was supported by all political parties but it has been eroded since the 1990s. The opportunity to ‘contract out’ of the state pension is...

"The fair trade movement claims that the products it provides are sourced 'justly' and that purchasing fair trade products brings economic benefits for the poor. Whilst it is clear that fair trade might bring some benefits to particular groups, whether it brings significant net benefits to the...

"The concept of 'market failure' is often used to justify government intervention. Here, the author asks whether the concept is sufficiently meaningful for it to be used to make policy judgments." Copyright (c) 2008 The Author. Journal compilation (c) Institute of Economic Affairs 2008.

"The most successful stock exchanges developed without detailed regulation by the state. This article examines the role of the FSA in regulating stock market activity and finds that the justification for a statutory regulator is very weak. Indeed, one of the functions of a stock exchange is the...

"Financial market transactions involve complex decisions and significant amounts of information have to be processed by consumers. Economists often call for statutory regulation to overcome so-called 'information asymmetries.' However, the market will generally develop sophisticated institutions...

"At one time, the prevailing view amongst Christian clergy in Britain would have been sympathetic towards the spontaneous order of the market economy and not sympathetic towards socialism. The spontaneous order, would, of course, have included the rich tapestry of philanthropic organisations and...