This essay is about an important area in which there has been major rethinking-industrial policy, by which the authors mean government policies directed at affecting the economic structure of the economy. The standard argument was that markets were efficient, so there was no need for government...

Successful network utility privatisation requires incentive-based regulation that allows investment to be adequately rewarded form unsubsidised revenues while maintaining quality, and restructuring that permits effective competition for the network services. The potential for success and the...