No. 003
Airport slots
Permission to use a runway at a given time on a given day — worth tens of millions of pounds at Heathrow, and not, technical…
No. 007Carbon credits & allowances
The right to emit a tonne of CO₂ — a commodity created entirely by policy, in two markets that are frequently confused and b…
No. 026Fishing quota
The right to catch a tonne of a named species in a named area — created by law, concentrated in remarkably few hands, and wo…
No. 051Radio spectrum
Licences to transmit on particular frequencies — a finite natural resource, auctioned by the state for billions, and the rea…
No. 064Water abstraction rights
Permission to take water from a river or aquifer — a licence, not a possession, and increasingly the binding constraint on b…