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Economic Affairs
25 June 2009
14 comments

A new study published today by the Institute of Economic Affairs examines the compatibility of the Islamic religion with free-market economic policies. Contrary to the concerns of many in the West,...
Richard Wellings
24 June 2009
2 comments

The last decade has been marked by a combination of low savings rates and high debt levels in both the USA and Britain. Indeed in 2005, the savings rate in the US reached zero, while 13 million...
Richard Wellings
22 June 2009
22 comments

Britain now faces its worst ever peacetime fiscal crisis, yet our politicians seem incapable of grasping the seriousness of the situation. Indeed, when Andrew Lansley suggested recently...
John Meadowcroft
18 June 2009
20 comments

Advocates of privatisation have often paid insufficient attention to one of the most important reasons why scholars like Friedman and Hayek argued in favour of privatisation: that people are the...
Philip Booth
17 June 2009
2 comments

No doubt IEA blog readers will have different views on the news that the BBC is likely to have to share its licence fee with ITV news and children’s programme producers (with expressions of...
Richard Wellings
16 June 2009
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●  Philip Booth argues there is no real concept of a market in the British education system   ●  Gary Becker on Obama’s fatal conceit   ●  Samuel Brittan reviews...
Peter King
15 June 2009
10 comments

Ronald Reagan famously stated the perfect response that government should make to any crisis: “Don’t just do something, stand there!” This, it seems to me, is still the best...
Laurence Copeland
12 June 2009
10 comments

We could see it coming, couldn’t we? Those gigantic over-leveraged hedge funds were bound to come crashing down, as their massive bets turned sour, forcing them to default on their bank loans...
Richard Wellings
11 June 2009
26 comments

The RMT has once again brought London to a standstill with a 48-hour strike. This is a good example of public choice theory at work, in particular Mancur Olson’s logic of collective action. A...
David B. Smith
10 June 2009
2 comments

Britain now faces one of the most serious fiscal crises in its peacetime history. One reason is that the UK is now caught up in a sudden and severe international recession. However, the government...
Kristian Niemietz
9 June 2009
8 comments

Whether you read a conservative or a left-wing newspaper, a tabloid or the business press, you have probably read many times in the last few days that “Eurosceptic” parties had recorded...
Richard Wellings
8 June 2009
8 comments

For several decades the British economy has been hampered by the poor quality of its infrastructure. Whether in transport, education or health, investment has typically been low by international...
Richard Wellings
6 June 2009
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● Kevin Dowd on moral hazard and the financial crisis (pdf) ● David Friedman sets out the problems of cap and trade ● Oliver Hartwich explains why big government is not so smart ● Mark Koyama...
James Alexander
5 June 2009
12 comments

The threat of “systemic failure” has been used to justify recent government interventions in the financial sector. Essentially it is a “market-failure” type of argument...
Ian Senior
4 June 2009
1 comment

The public has a right to be angry – very angry – about the various ways that many MPs have fiddled expenses. And we are all heartily sick of the standard excuse: “I have done...
Roland Vaubel
3 June 2009
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Europeans go to the polls this week, yet despite the appearance of democracy it is clear that EU institutions are not representative of the people. Indeed, no matter how citizens vote, these...
Philip Booth
1 June 2009
2 comments

In every walk of life there are people who are greedy, selfish and sometimes those who downright cheat. Some MPs stretched their expenses to the limit, some people have cheated on social security...
Terry Arthur
28 May 2009
10 comments

In the past few weeks UK politics has rightly been dominated by The Telegraph’s revelations about MPs’ expense claims. Meanwhile other issues have taken a back seat – for example...
Kristian Niemietz
27 May 2009
2 comments

Last week it was revealed that at least £7 billion has been paid out wrongly on tax credits over the last five years. Indeed, the tax credit scheme has been accompanied by administrative...
J. R. Shackleton
26 May 2009
6 comments

In the current febrile, even Jacobin, climate it may seem foolhardy to offer a defence of pay inequality. However, here goes. The classic explanation of how a free labour market allocates people to...