Over-regulated markets

Who is the best judge of how much to charge for mobile-phone calls across Europe? Vodafone Group and...

Who is the best judge of how much to charge for mobile-phone calls across Europe? Vodafone Group and Deutsche Telekom? Or Viviane Reding, the European Union's telecommunications commissioner? Likewise, who is the best judge of how much to charge for a British bank account? Barclays and Lloyds TSB Group or John Fingleton, chief executive officer of the UK's Office of Fair Trading? In areas such as telecommunications and financial services, the freedom of companies to set their own prices is increasingly being curbed by regulators and politicians. That is surely a mistake. Companies are th...