Market competition and divided regulatory authority

Alex Clarke argues that preserving a competitive economy requires preventing monopolies and cartels from restricting the movement of capital. In his account, a dominant company's short-term returns can conflict with the economy's longer-term interests. He extends that criticism to separating financial supervision among several institutions. His example contrasts a Bank of England director's former ability to demand that a bank stop an unsound practice with the delays involved when multiple authorities must agree. The passage presents his interpretation of institutional authority and market regulation, without specifying a particular regulatory reform or case.