It's hard to account for flaws in the rule-book

In this week's City AM column, Professor Anthony J. Evans looks at profit and loss regulation systems.

"When economists talk about the efficiency of the profit and loss system, we tend to take for granted that the profit and loss we observe matches with reality. But government interventions are liable to disrupt these signals – inefficient taxes, arbitrary subsidies, and monetary debasement all separate prices from the underlying conditions of demand and supply."

You can read the full article by picking up a copy of today's City AM in reception, or by visiting the paper online. You can also catch up on all of Anthony's past articles by clicking here.

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