ABSTRACT
This chapter adopts the strategic choice approach by considering the two case studies currently attracting public attention, the financial and United Kingdom (UK) energy sectors, although the arguments can easily be extended to other important strategic sectors. It aims to offer an alternative interpretation of failures in these sectors and then explore more inclusive ways for their future development. The chapter set out the main theoretical issues, carefully defining the concepts of economic governance, strategic failure and the public interest. It explores these concepts in the context of mainstream analyses of competition and regulation, and suggests that a strategic choice approach offers a wider perspective and a better opportunity to achieve actual outcomes that are in the public interest. The chapter provides a governance-centric approach that places inclusion and democratic choice as the focal point of public policy. It outlines some realistic and feasible possibilities for each of these sectors, which could aid their future development in the public interest.
