A legal framework for NEMs
Government has facilities that could make any system of e-markets uniquely useful. Those facilities need to be released; more efficient markets are good for the economy. The facilities can’t be given out indiscriminately. They need to be focused around one standard for markets.
Is a framework essential?
The right legal framework could use those facilities to motivate the private sector to build that system. It must also ensure the best possible deal for the market’s users.
Before we list these facilities, and suggest the accompanying obligations, time for a quick sanity check. Is legislation really the only way to realise these hyper-efficient markets for the base of the economic pyramid? Could it happen any other way?
