For further details on the economics of airline deregulation, see F. McGowan and P. Seabright ‘Deregulating European Airlines’ in the 1990 issue of the journal Economic Policy. The classic article on privatization remains G. Yarrow ‘Privatization in theory and practice’ in the 1986 issue of the journal Economic Policy. The Private Finance Initiative and the Public Private Partnership are discussed in the Financial Times (11 Dec 1998) and at www.treasury-projects-taskforce.gov.uk . In many industries, the role of national regulators of domestic monopolies is changing, either because international competition is undermining domestic monopoly or because international regulators are supplanting domestic ones. A useful illustration is at British Telecom’s website (www.bt.co.uk). In contrast, other industries are such as water are less easily traded internationally and more obviously the responsibility of the domestic regulator (see www.open.gov.uk/ofwat)