The lack of real progress at the Durban climate change conference in 2011—postponing effective action until at least 2020—has many causes, one of which is the failure to address trade issues and, in particular, carbon leakage. This paper advances two arguments. First, it argues that the...

Economic crises have historically set the stage for the reconfiguration of the economic borders of the state. Current concerns focus on debt and associated intergenerational issues, such as pensions, infrastructure, and the environment. The sustainable state is designed to put in place a...

Energy policy has frequently been based upon assumptions about future oil prices. At the end of the 1970s it was assumed oil prices would continue to rise. Now a similar assumption pervades policy design. This article critiques the peak oil hypotheses which lie behind these forecasts and policy...

The state of British infrastructure is the source of almost continuous study and criticism. There is now a host of new demands in water, energy, transport and communications which require a step change in investment. The Coalition government has made a series of reforms—to planning, finance,...

The paper documents the significant changes of ownership since the infrastructure utilities were privatized and, in particular, the shifts from the initial focus on dispersed retail share ownership through takeovers to more concentrated ownership and the emergence of private equity and...

The paper considers the role of infrastructure in improving economic performance, and its comparative neglect relative to traditional macroeconomic and microeconomic policies. It explains why infrastructure matters, why Britain's infrastructure performance has been poor, and summarizes the scale...

The paper considers the design and performance of the new regulatory regime for U.K. utilities. It describes the RPI-X price caps and considers the scope for regulatory discretion and capture. Particular attention is paid to the informational requirements for the determination of prices, the...