The Railways, the Market and the Government

John Hibbs, Rico Merkert, Oliver Knipping, Chris Nash

ISBN 10: 0255365675 / ISBN 13: 9780255365673

Published by Institute of Economic Affairs 25/05/2006, 2006

About this Item

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Bibliographic Details

• Title: The Railways, the Market and the Government
• Publisher: Institute of Economic Affairs 25/05/2006
• Publication Date: 2006
• Language: English
• ISBN 10: 0255365675
• ISBN 13: 9780255365673
• Binding: Hardcover
• Condition: Very Good

About this title

Synopsis

The debate on rail privatisation often seems to focus on very narrow issues. Those on both sides of the argument seem to be able to employ a mass of statistics to prove their point. Proponents of privatisation suggest, with some credibility, that all was reasonably well with the privatised railways until the Hatfield disaster. Opponents point to spiralling costs since privatisation. The authors of this monograph examine privatisation in the context of the long history of continual government intervention. The government imposed upon the industry a particular structure - separation of track and wheel. It also wrapped it up in increasing amounts of regulation. After examining the history of government intervention in the railways and the privatisation process, the authors of this monograph then examine the future of railway policy. Should the industry be allowed to evolve its own structure - remerging the ownership of track and wheel if it wishes? What aspects of a railway should be regulated? Who should own the various parts of the infrastructure? This monograph is essential reading for all with an interest in railway policy and the process of privatisation.