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Further Lessons From Privatisation

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  • Martin Ricketts

Abstract

Privatisation transfers assets from state to private ownership. However, this is not a sufficient action for competitive liberal markets to develop. Indeed, attempts by regulators to impose a structure on industries to promote competition actually inhibit the competitive process from determining the most efficient industrial structure. Privatised industries can still have their objectives determined through the political process. Thus, privatisation, to be fully effective, needs to be supported by other policies that will ensure that competition prevails and that the assets of the industries are used to meet the ends of consumers rather than those of politicians.

Suggested Citation

  • Martin Ricketts, 2004. "Further Lessons From Privatisation," Economic Affairs, Wiley Blackwell, vol. 24(3), pages 9-15, September.
    • Handle: RePEc:bla:ecaffa:v:24:y:2004:i:3:p:9-15
    DOI: 10.1111/j.1468-0270.2004.t01-1-00485.x
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    References listed on IDEAS

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    1. Andrei Shleifer, 1998. "State versus Private Ownership," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 133-150, Fall.
    2. Dieter Helm, 2001. "Making Britain More Competitive: A Critique of Regulation and Competition policy," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(5), pages 471-487, November.
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    Cited by:

    1. Massey, Patrick, 2004. "Is Irish Utility Regulation Failing Consumers?," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2004(4-Winter), pages 1-18.

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