Suchergebnisse

Whilst it is impossible to argue that the earth is flat without fearing ridicule, fallacies in economics are widespread. Such fallacies pervade the intellectual sphere and even influence policy. Professor Geoffrey Wood of the University of Buckingham exposes such popular economic fallacies in this revised edition of Fifty Economic Fallacies Exposed. Professor Wood looks at, for example, the supposed dangers of free trade, the abilities of governments to control the economy, the effects of government regulation and whether millions of jobs depend on our continued membership of the European Unio

The issue opened up by the 'Ryanair Case' is a wide and important one. Interest groups often press for special treatment at the expense of others. People often agree to give it, because they think the group is deserving and because they have not thought through how the service is to be paid for. By making the charging transparent, as Ryanair has done in this case, people will be forced to think about whether the interest group really is deserving, and if they decide that it is, face up to supporting that view with their own money.

This paper considers the purposes that regulation and supervision of financial institutions are designed to serve. Historical experience with regulation and supervision is considered, and it is argued on the basis of that examination that a fairly 'light touch' in regulation is likely to achieve the objectives that governments and citizens require regulation to achieve. Accordingly, the paper concludes that when regulation is evaluated and compared with unregulated systems, one should be careful to compare fallible regulation with fallible markets, rather than implicitly assuming regulation is perfect. Otherwise over‐regulation will result.