Energy markets in many countries have been extensively liberalised in recent years as part of the revival of market economics. However, though 'everyone may believe in markets now', there are differences of opinion about what constitutes a competitive market. The perfect competition paradigm persists and leads to demands for state regulation to counteract 'imperfections' and failures'. Energy economists should look more sceptically than they generally do at these calls for regulation, most of which have little to do with the 'public interest': in the long run the accretion of regulation may lead back to extensive state control.
BarnettH.J.MorseC. (1963). Scarcity and Growth: The Economics of Natural Resource Scarcity. Johns Hopkins Press.
2.
BarryNorman (1994). 'The Market, Liberty and the Regulatory State', Economic Affairs 14(4), June.
3.
BeesleyMichael E. (1997). Privatization, Regulation and Deregulation, Routledge, second edition.
4.
BlaugMark (1987). 'Classical Economics', in Eatwell, Milgate and Newman (eds), The New Palgrave - A Dictionary of Economics, Vol.1, Macmillan.
5.
BlundellJohnRobinsonColin (1999). Regulation Without the State. London: Institute of Economic Affairs, Occasional Paper 109.
6.
BuchananJames M. (1978). The Economics of Politics. London: Institute of Economic Affairs, Readings 18.
7.
CockettRichard (1994). Thinking the Unthinkable: think tanks and the economic counter-revolution. London: HarperCollins.
8.
DemsetzHarold (1989). Efficiency, Competition and Policy. Blackwell.
9.
DemsetzHarold (1969). 'Information and Efficiency: Another Viewpoint', Journal of Law and Economics 12(1).
10.
EmsleyJohn (ed.) (1996). The Global Warming Debate: The Report of the European Science and Environment Forum, ESEF.
11.
GordonR.L. (1967). 'A Reinterpretation of the Pure Theory of Exhaustion', Journal of Political Economy (June).
12.
HayekFriedrich A. (1948). 'The Meaning of Competition', in Individualism and Economic Order. George Routledge and Sons.
13.
HealdDavid (1980). 'The Economic and Financial Control of UK Nationalised Industries', The Economic Journal (June).
14.
HendersonDavid (1998). The Changing Fortunes of Economic Liberalism: Yesterday, Today and Tomorrow. London: Institute of Economic Affairs, Occasional Paper 105.
15.
HotellingHarold (1931). 'The Economics of Exhaustible Resources', Journal of Political Economy 39.
16.
KirznerIsrael M. (1997). How Markets Work: Disequilibrium, Entrepreneurship and Discovery. London: Institute of Economic Affairs, Hobart Paper 133.
17.
KirznerIsrael M. (1985). Discovery and the Capitalist Process, University of Chicago Press.
18.
KrautkraemerJeffrey A. (1998). 'Nonrenewable Resource Scarcity' in Journal of Economic Literature, Vol. XXXVI (December).
19.
KuhnThomas (1970). The Structure of Scientific Revolutions. University of Chicago Press, 2"d edition.
20.
LipseyR.G.LancasterK. (1956). 'The General Theory of Second Best', The Review of Economic Studies 24(1): 11-32.
21.
MarshallEileenRobinsonColin (1984). The Economics of Energy Self-Sufficiency. London: Heinemann Educational Books.
PeltzmanS. (1976). 'Toward a General Theory of Regulation', Journal of Law and Economics 19(2) (August).
24.
PigouA.C. (1932). The Economics of Welfare, 1929, Fourth edition 1932.
25.
PindyckRobert S. (1999). 'The Long Run Evolution of Energy Prices', The Energy Journal 20(2).
26.
RobinsonColin (1997). 'Introducing Competition into Water', in M.E. Beesley (ed.), Regulating Utilities: Broadening the Debate. London: Institute of Economic Affairs, Readings 46.
27.
RobinsonColin (1993). Energy Policy: Errors, Illusions and Market Realities. London: Institute of Economic Affairs, Occasional Paper 90.
28.
RobinsonColin (1991). 'Die Energiewirtschaft in Grossbritannien: Entwicklung und Perspektiven', Zeitschrift fur Energie Wirtschaft, 2.91.
29.
RobinsonColin (1986). 'Depletion Control in Theory and Practice', Zeitschrift fur Energie Wirtschaft, 1/86.
30.
RobinsonColin (1984). 'The Changing Energy Market: What can we learn from the last ten years?' in David Hawdon (ed.), The Energy Crisis: Ten Years After. Croom Helm.
31.
RobinsonColin (1975). Energy Depletion and the Economics of OPEC. Henley Centre for Forecasting.
32.
RobinsonColin (1969). A Policy for Fuel? London: Institute of Economic Affairs, Occasional Paper 31.
33.
RobinsonColinMorganJon (1978). North Sea Oil in the Future: economic analysis and government policy. London: Macmillan, for the Trade Policy Research Centre.
34.
SchumpeterJ.A. (1976). Capitalism, Socialism and Democracy. Allen and Unwin, 5th edition. Chapter 7.
35.
ScottMaurice (1977). 'The Test Rate of Discount and Changes in Base-level Income in the United Kingdom', Economic Journal (June).
36.
SolowRobert M. (1974). 'The Economics of Resources or the Resources of Economics', American Economic Review (May).
37.
StiglerG.J. (1971) 'The Theory of Economic Regulation', Bell Journal of Economics 2(1) (Spring).
38.
TullockGordon (1976). The Vote Motive. London: Institute of Economic Affairs, Hobart Pape rback 9.
39.
WaltersAlan (1987). 'Milton Friedman' in Eatwell, Milgate and Newman, The New Palgrave - A Dictionary of Economics. Macmillan.
40.
Watkins G.Campbell (1978). 'A Note on Interest Rates and Resource Depletion', Journal of Business Administration 10 (1 &2) Fall 1978/Spring 1979.
41.
WeyantJohn P. (ed.) (1999). 'The Costs of the Kyoto Protocol: A Multi-Model Evaluation', Special Issue of The Energy Journal.
