Insurance
The matching adjustment, Thames Water, and the question the BPA market is not asking
On regulatory architecture, captured rent, and what happens when an infrastructure asset stops behaving like an infrastructure asset.
C.J. Marsden
Writes anonymously on the political economy of British professional services.
Government
How Britain Forgot How to Govern a Hospital
Four decades of NHS reform have been designed by people without relevant qualifications. The pattern is structural, not accidental — and the people best placed to fix it are systematically excluded from the rooms where decisions get made.
Tax
The IR35 Own Goal
How a tax crackdown enriched consultancies, hollowed out UK skills, and left HMRC empty-handed. Legislation designed to close a tax gap instead offshored specialist work and handed the Big Four a windfall they helped engineer.
Government
State Ownership of Commodities and Infrastructure
Why the shareholder-value consensus has produced less innovation than well-governed state enterprise — and why minimal income tax was a real choice the UK declined to make.