Pt. 1. Who should run the railways? the historical context -- Railways and the power of emotion: from private to public ownership / John Hibbs -- Railways and the power of emotion: seeking a market solution / John Hibbs -- Pt. 2. Who should run the railways? an assessment of railway privatization -- The restructuring of the rail system in Britain -- an assessment of recent developments / Rico Merkert and Chris Nash -- The UK railway: privatization, efficiency and integration / David E. Tyrall -- Environmentalism, public choice and the railways / Richard Wellings -- Pt. 3. Who should run the railways? the future of railways and the market economy -- Railway privatization in the UK -- a laissez-faire approach to an interventionist failure / Oliver Knipping -- The public-private partnership and the general welfare / Rana Roy -- Rail in a market economy / Richard Wellings -- About the IEA.