The Case for Regulatory Reform

In D. Helm (ed.), The Future of Infrastructure Regulation, published by Oxera, July 2005, pp. 1-9. It is tempting to think that, after two decades of experience, regulation might have moved from the controversial and novel, to the tried and tested, that controversy might have died down, and that the subject matter might have
become merely technical. Some, indeed, have been seduced by this idea, but a quick reality check reveals that there remains much controversy and debate, and that the issues at stake are profound. Whether regulation can deliver a
framework for investment in the infrastructures of the future remains an open question, and in the meantime regulation in one form or another has gone up the political, industry and public agendas. Far from withering away, regulation
has continued to grow over the last two decades.

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