Kristian Niemietz
3 February 2009
One of the justifications for government intervention in the market is the presence of ‘external effects’ or ‘externalities’ which occur when individual actions adversely...
Terry Arthur
30 January 2009
Adam Smith’s ‘agency problem’, the separation of ownership from control, enables big-business executives and directors to pursue their own agenda. All too often this results in an...
Nick Silver
26 January 2009
In his excellent book, The Origin of Wealth, Eric Beinhocker argues that it is markets, not individual companies, which are most effective at allocating resources. This apparently subtle distinction...
Kristian Niemietz
20 January 2009
In a recent IEA discussion paper, Nick Silver argues that official figures display less than a fifth of the UK’s actual public debt. This is because pension entitlements constitute debt in all...
Peter King
19 January 2009
Should the UK government really be encouraging households to borrow money to buy houses in the current climate? And should it be encouraging banks to lend to them as part of the latest bailout...
Philip Booth
13 January 2009
It was interesting to see David Cameron’s library in the newspapers yesterday. There are some good choices there. Kynaston’s book on the austerity years after the war is excellent, for...
Kristian Niemietz
9 January 2009
Philip Booth’s blog article about Pope Pius IX reminded me of another historical figure who predicted, with an astonishing degree of accuracy, what life would be like in a socialist state....
Nick Silver
6 January 2009
The UK has recently undergone a banking crisis, the reasons for which have been much analysed, but basically boil down to a mixture of liquidity problems (banks unwilling to lend to each other) and...
Richard Wellings
5 January 2009
Will a green ‘New Deal’ help get Britain out of recession? The Liberal Democrats, for example, have proposed the reopening of disused railway lines as a means of boosting the economy....
Donald J. Boudreaux
27 December 2008
Shopping-mall Santas remind me of politicians. No joke.
Consider the similarities: each Santa sits upon a throne and receives from strangers demands for free goodies. Each child who asks for things...
Richard Wellings
16 December 2008
Following the bailout of several banks, the government is now considering measures to ‘save’ the British car industry.
Such a bailout would be wrong in itself but would also set a very...
Philip Booth
8 December 2008
Pope Pius IX had everything modern in his sights when he wrote the Syllabus of Errors and related encyclicals. It was not just socialism that came in for a pasting and I am sure he would have been...
Nick Silver
26 November 2008
If you are a company, you have to include pensions liabilities as a debt in your accounts. However, governments, while professing to follow private sector practices in their accounts, turn a blind...
Richard Wellings
25 November 2008
One of the most noteworthy elements of the 2008 Pre-Budget Report was the planned increase in income tax rates to 45% for those earning over £150,000. This measure is intended to...
Philip Booth
14 November 2008
In each of the last two weeks the IEA has hosted panel discussions in front of packed houses. Last week the topic was public sector pensions and this week it was the Third Heathrow Runway....
Richard Wellings
11 November 2008
The last century has seen a steady expansion of the ‘nanny state’, a process that has arguably accelerated in the last decade. A ‘banning culture’ has developed, with...
Martin Ricketts
10 November 2008
The recent death of Norman Barry is a great loss to the cause of classical liberalism. For Norman was one of its most effective advocates. He was a rare example of a person who was a master of the...
Philip Booth
6 November 2008
The 1.5% interest rate cut came as a bit of a surprise to most people. However, we are in new territory and it is territory with which those economists who love their macroeconomic forecasting...
Kristian Niemietz
6 November 2008
This Sunday will be the 19th anniversary of the fall of the Berlin Wall – one of the greatest victories for freedom in contemporary history, and a powerful reminder that huge advances in...
Richard Wellings
24 October 2008
Alistair Darling’s proposed spending spree on bringing forward major capital projects suggests the government is prepared to sacrifice the economy’s long-term interests for short-term...