Mark Pennington
10 January 2011

At the core of my new book, Robust Political Economy: Classical Liberalism and the Future of Public Policy, is a very basic but oft neglected idea – ‘failure’ is endemic to all...
Steven Kates
7 January 2011

The recent decisions to retain the ‘Bush tax cuts’ in the United States and to withdraw the trillion-dollar-plus expenditure bill from the American Senate before it was even put to a...
Tim Congdon
3 January 2011
1 comment

Since the financial crisis began in autumn 2007 with the Northern Rock fiasco, a consensus narrative has developed. The central theme is that the crisis is to be blamed not on monetary mismanagement...
Steven Kates
21 December 2010

The Social Network is a wonderfully entertaining film. It may also be – and if it is, it will only have been by accident – the most pro-market film ever produced. The film tells the...
Steve Davies
16 December 2010

A common observation, usually made with a sneer, is that economists know the price of everything and the value of nothing. Thus is anyone who brings economic thinking to bear damned as a heartless...
G. R. Steele
29 November 2010
1 comment

In the 1920s, the UK economy was deflated as a prelude to the restoration of the gold standard. The Chancellor responsible was Winston S. Churchill. In opposing that policy, John Maynard Keynes...
Philip Booth
26 November 2010

David Willetts defended the government’s decision to spend my money finding out what makes me happy in The Times today (subscription required). He said it was not about creating a nanny ...
G. R. Steele
19 November 2010

As one set of economists warns that rapid debt reduction is likely to plunge the economy into deep recession, another set argues that debt reduction is essential to restore financial stability and...
Bruno Prior
18 October 2010

The purpose of markets is to discover the clearing price at which supply and demand balance. Demand is not simply what people want, but what they choose to put their scarce resources towards in...
Kevin Dowd
18 October 2010

One of the most important issues in the ongoing economic controversy is whether the crisis is due to a “failure of capitalism”. What both sides of this argument often overlook, however,...
Robert Wenzel
13 October 2010

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2010 was awarded jointly to Peter A. Diamond, Dale T. Mortensen and Christopher A. Pissarides. Diamond, 70, is an economist...
Kristian Niemietz
2 September 2010

Anti-consumerism as a gut-feeling has been around for ages. But the attempt to rationalise the sentiment in economic terms is a product of our times. And a successful one, at that. With titles like...
Eamonn Butler and Philip Booth
22 July 2010

Philip Booth interviews Eamonn Butler, author of Ludwig von Mises – A Primer.    
Kristian Niemietz
15 July 2010

In the early 1960s, Chicago economist Milton Friedman travelled to Hong Kong to meet Sir John Cowperthwaite, the colony’s Financial Secretary. The economic development of Hong Kong had aroused...
Andre Johnston Phijuntjitr
6 July 2010

It has become increasingly clear that interventionism played a significant role in precipitating the 2008 financial crisis. The Austrian School is more than capable of providing the...
Charles K. Rowley
2 July 2010

For those too young to remember, the mid-1970s witnessed the first demise of Keynesian economics as the much-worshipped Phillips Curve turned positive in depicting the relationship between the rate...
Terry Arthur
16 June 2010
1 comment

" You’re gouging on your prices If you charge more than the rest But it’s unfair competition If you think you can charge less! A second point that we would make, To help...
Anthony J. Evans
25 May 2010

Last month the FT’s Martin Wolf asked a simple question, “Does Austrian economics understand financial crises better than other schools of thought?” After admitting that neo-...
Richard Wellings
6 May 2010

With the opinion polls pointing to a close result and the prospect of a hung parliament, turnout is expected to be relatively high in today’s election. Yet for economists this presents a bit...
Philip Booth
28 April 2010
1 comment

The IEA is delighted that Gary Becker will be giving the Hayek Lecture on June 17th this year. Gary Becker attended Hayek’s evening seminars at the University of Chicago, thus making a nice...