David Currie on "the common sense middle ground"
Last week Cass welcomed David Currie, Chairman of the Competition and Markets Authority (CMA), to give the annual Currie Lecture.
The Chairman of the Competition and Markets Authority speaks at Cass
Currie's chosen topic was 'The case for the British Model of Independent Regulation 30 years on'.
He spoke broadly about the state of regulation and the role of markets suggesting that his reflections be attributed to "a long-in-the tooth pensioned-off academic" rather than to the CMA.
Discussing the relative roles of market vs. state influence on the UK's economy, he stated:
"We are left, unsurprisingly, in the common sense middle ground of recognising that there is no practical alternative to the market, but also recognising that market outcomes may not always be for the best. Market failures may be rife and may be susceptible to government intervention to improve matters, but … we must be as alert to government failures as market failures."
View the full lecture or read Currie's speech.
A former Cass Dean, the Currie Lecture series is named after David Currie, making this lecture the equivalent, he joked, of a 'selfie'.
Previous speakers in the series include leading regulators Callum McCarthy, Alistair Buchanan, Philip Collins, David Bennett and Martin Wheatley.