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Reinventing the Market? Competition and Regulatory Change in Broadcasting

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  • Simon Deakin
  • Stephen Pratten

Abstract

The reforms instituted by the Broadcasting Act 1990 led to a period of turbulence and upheaval within British broadcasting with results that were at best unintended and, at worst, seriously undermined the ideal of public service broadcasting. A Hayekian economic perspective would suggest that the reforms failed because they did not go far enough in the direction of full 'marketisation'. The paper develops an alternative perspective, based on an adaptation of systems theory within the context of law and economics. This approach offers a broader methodological foundation for the understanding of 'economic law' and a different normative perspective on the broadcasting reforms. It is suggested that the difficulty with these reforms was not their failure to go further in the direction of the market, but rather their lack of clarity in articulating a clear alternative to the market as the basis for the organisation of television production.

Suggested Citation

  • Simon Deakin & Stephen Pratten, 1999. "Reinventing the Market? Competition and Regulatory Change in Broadcasting," Working Papers wp134, Centre for Business Research, University of Cambridge.
    • Handle: RePEc:cbr:cbrwps:wp134
    Note: PRO-1
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    References listed on IDEAS

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    4. Coase, R H, 1996. "Law and Economics and A. W. Brian Simpson," The Journal of Legal Studies, University of Chicago Press, vol. 25(1), pages 103-119, January.
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    Cited by:

    1. Thierry Kirat & Frédéric Marty, 2006. "La mise en œuvre de la réglementation : une lecture économico-juridique du secteur électrique et des marchés publics," Economie & Prévision, La Documentation Française, vol. 0(4), pages 101-116.
    2. Simon Deakin & Ana Lourenço & Stephen Pratten, 2009. "No "third way" for economic organization: Networks and quasi-markets in broadcasting," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 18(1), pages 51-75, February.
    3. Ana Lourenço, 2013. "In memoriam of Professor Ronald Coase," Working Papers de Economia (Economics Working Papers) 06, Católica Porto Business School, Universidade Católica Portuguesa.
    4. Patrice Bougette & Axel Gautier & Frédéric Marty, 2021. "Which access to which assets for an effective liberalization of the railway sector?," Competition and Regulation in Network Industries, , vol. 22(2), pages 87-110, June.

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