Launch Aid has crucially facilitated civil aerospace product development efforts in the UK. Currently Launch Aid figures centrally in the charged international dispute over civil aerospace subsidies, in which it has been characterized variously as an instrument of infant industry policy,...

A model of profits switches between four regimes with fixed probabilities; the rationally expected profits stream implies the stock market value. This efficient market model is not rejected by UK post-war time-series behaviour of either profits or the FTSE index.