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Market Foundations

Advancing thinking and debate


Market foundations focuses on the foundations of how markets work and current areas of activity include:

  • Matters to be considered in application of the concept of the public interest
  • The rights and obligations of different types of legal entity
  • The meaning and application of integrity

If you would like to comment on the topics covered by this programme, contribute to the ongoing work it refers to, or follow progress and receive copies of subsequent reports, please email marketfoundations@icaew.com.

What’s it all about?

Market Foundations focuses on the foundations of how markets work. Market activity is the means by which society benefits from the comparative advantages held by the individuals within it.

Society benefits when markets are efficient and when they deliver desired public policy outcomes.

Such markets will have as their foundations: participants (whether as principals, agents or advisers) that can trust and be trusted; accepted, predictable and transparent standards of behaviour; and effective and efficient mechanisms to intervene in the markets where needed to correct the behaviour.

Those foundations have often built up in markets in an ad-hoc fashion: can they be improved to enhance market effectiveness and efficiency further?

What we’ve done

Previous work programmes have included: