Search results for ""Author Richard Wellings""

Government management of fisheries has been little short of disastrous. In many regions, valuable fish stocks have collapsed as a result of overfishing. Ill-conceived regulation also means that every year millions of tons of edible fish are thrown back dead into the sea. While an absence of established property rights means that wild fish are vulnerable to overfishing, the problem is greatly exacerbated by large subsidies. State intervention has created significant overcapacity in the industry and undermined the economic feedback mechanisms that help to protect stocks. This short book sets out a range of policy options to improve outcomes. As well as ending counterproductive subsidies, these include community-based management of coastal zones and the introduction of individual transferable quotas. The analysis is particularly relevant to the UK as it begins the process of withdrawal from the European Union. After decades of mismanagement under the Common Fisheries Policy, Brexit represents a major opportunity to adopt an economically rational approach that benefits the fishing industry, taxpayers and consumers.

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In this Hobart Paper, the authors -- transport economics Oliver Knipping and Richard Wellings -- propose the privatisation of the UK road network. In doing so, they examine the traditional objections to privatisation and find them wanting. in lively discussion, making good use of practical examples, the authors also look at related issues such as road taxation, the planning system, pricing, regulation and the management of congestion. Whilst the authors admit that there are valid objections to road privatisation -- and straightforward privatisation may not suit all types of roads -- there are many imaginative schemes outlined that could deal with those objections. The authors also show that the nationalisation of roads has not been a success. This study is essential reading for policy-makers, academics and students in the field of transport and logistics.

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Protectionism is back on the agenda as the financial crisis deepens. With calls for measures that purport to protect low income workers growing louder in the West, it is essential that the economic arguments in favour of free trade and globalization are re-emphasised.Philip Booth and Richard Wellings have brought together key papers originally published by the Institute of Economic Affairs, which, for the past 50 years, has been vigorously defending the case for free trade, and for globalization more generally. These important papers, which are not widely available, trace the development of the debate on the benefits of free trade during the last 50 years.The editors have written an authoritative introduction which offers a comprehensive overview of the arguments for and against globalization.

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