If regulating the strong doesn't work, just nanny the weak instead, Tony Curzon Price

tcp-old — Tue, 08 Jan 2008 13:55:49 +0000

Evan Davis, the telegenic and usually excellent BBC Economicscorespondent, had a heart-stoppingly bad argument this morning on theToday show. Darling is hauling in the gas and power companiesto hear justifications of the 60% price increases we've seen this year.Evan Davis went through A-level oligopoly theory, explaining that"prices are sticky ... energy firms won't reduce prices because theyknow that others will follow them if they do, so doing no good buthurting profits ... and that our energy suppliers know that we don'teasily switch anyway." So much, so (half) true. Read the rest of this post...

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If regulating the strong doesn't work, just nanny the weak instead, Tony Curzon Price