David B. Smith This is a book about the application of economic theory to a unique form of social control - public utility regulation. A central theme of this work is to examine the role that economics has played in shaping the rationale and direction of regulatory practices. While economic theory has played an important role in the shaping of regulatory policy in the past, it has an even greater potential role to play in the future as the regulatory community grapples with the many challenges of a changing economic environment. This is a very timely and much needed piece of work that can serve as a reference for decision makers who are facing the challeng ing problems of deregulation and competition. This work is comprised of 13 selected articles that guide the reader from an initial discussion of why we decided to regulate certain industries in the first place to a specific analysis of what role economic theory has played in the electric, natural gas, telecommunications, and water indus tries, and whether it should be allowed to play an even more dominant role in the future. The reader is then provided with a more modern version of what economists mean by the concept of natural monopoly and a menu of policy options that will allow society to derive any benefits from such a market structure.

Utilities have long been essential for societies, supplying basic services for nations, organizations and households alike. The proper functioning and regulation of utilities is therefore critical for the economy, society and security. History provides an invaluable insight into important issues of the economic and social regulation of utilities and offers guidance for future debates. However, the history of utility regulation – which speaks of changing, diverse and complex experiences around the world – was sidelined or marginalised when economists and policy-makers enthusiastically embraced the question of how to reform the utilities from the 1970s. This book examines in depth the complex regulation and deregulation of energy, communications, transportation and water utilities across Western Europe, the United States, Australia, Brazil, China and India. In each case, attention is drawn to the changing roles of the state, the market and firms in the regulation, organization and delivery of utility services. This book was originally published as a special issue of Business History.

How to put democracy at the heart of AI governance Artificial intelligence and machine learning are reshaping our world. Police forces use them to decide where to send police officers, judges to decide whom to release on bail, welfare agencies to decide which children are at risk of abuse, and Facebook and Google to rank content and distribute ads. In these spheres, and many others, powerful prediction tools are changing how decisions are made, narrowing opportunities for the exercise of judgment, empathy, and creativity. In Algorithms for the People, Josh Simons flips the narrative about how we govern these technologies. Instead of examining the impact of technology on democracy, he explores how to put democracy at the heart of AI governance. Drawing on his experience as a research fellow at Harvard University, a visiting research scientist on Facebook’s Responsible AI team, and a policy advisor to the UK’s Labour Party, Simons gets under the hood of predictive technologies, offering an accessible account of how they work, why they matter, and how to regulate the institutions that build and use them. He argues that prediction is political: human choices about how to design and use predictive tools shape their effects. Approaching predictive technologies through the lens of political theory casts new light on how democracies should govern political choices made outside the sphere of representative politics. Showing the connection between technology regulation and democratic reform, Simons argues that we must go beyond conventional theorizing of AI ethics to wrestle with fundamental moral and political questions about how the governance of technology can support the flourishing of democracy.