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  Reducing legislation and extolling the virtues of neo-liberal 'put it out to tender' has a very Victorian laissez-faire feel and consequence to it. Spot markets are a simple concept and I agree that they are self-policing, by and large. Compilations arise when we enter into contracts such as "the EU" and privatise WITHOUT sufficient safeguards for the public. Neo-liberalism, which has its antecedence in phrases such as "A well-defined task can easily be put out to the market, where a contractor is paid a fixed sum for doing it" from Coase's firm theory, has proven that even well-considered theorems are prone to negative human interference (i.e. greed) either by short-changing the client (us) or over-charging them. Regulation of our former family silver, the privatised industries, has been inadequate at best. I might cite the Energy sector, Water, Royal Mail, North Sea Oil...

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