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Mark Pennington
10 December 2012
1 comment

Throughout her career the late Elinor Ostrom was keen to avoid crude ideological labelling, and the title of her 2012 Hayek Lecture ‘beyond market failure and government...
Mark Pennington
7 August 2012
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Throughout her career the late Elinor Ostrom was keen to avoid crude ideological labelling, and the title of her 2012 Hayek Lecture ‘beyond market failure and government regulation...
Mark Pennington
1 February 2012
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The mention of public choice theory to those on ‘the left’ of politics can prompt a variety of reactions. Some are based on ignorance about the very existence of public choice economics...
Mark Pennington
20 December 2011
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I am no fan of the ‘Occupy Wall Street’ movement, which one or two libertarians not with standing, is a gathering of the ‘usual suspects’ on the reactionary left. That said...
Kristian Niemietz
14 December 2011
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Nearly ten years ago, IEA author Mark Pennington argued that British land use planning policies were characterised by public choice problems. Since no single individual’s vote has a...
Mark Pennington
4 December 2011
1 comment

If ‘status anxiety’ is as big a threat to individual well-being as many egalitarians seem to think then logically they should favour the equalisation of opportunities based on physical...
Mark Pennington
11 November 2011
5 comments

Recently I looked at some data on the changes in top division/Premier League footballers (soccer players for Americans) pay between 1985 and 2010 here in the UK. According to figures compiled by...
Mark Pennington
24 October 2011
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Last week saw a violent confrontation between gypsies/travellers and the police as the former were evicted from an illegal camp site at Dale Farm, Essex. There is no doubt in my mind that the...
Mark Pennington
19 October 2011
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Amartya Sen is a great economist and social philosopher whose willingness to recognise a central role for market institutions in securing economic development and individual freedom shows...
Mark Pennington
19 September 2011
1 comment

Segments of the conservative press in the UK are currently running a concerted campaign against very minor proposals by the coalition government to relax land use regulation, arguing that this will...
Mark Pennington
31 August 2011
10 comments

Many government interventions in markets though they are often justified in terms of the ‘public interest’ work to the disproportionate benefit of organised interests – often the...
Tom Papworth
22 August 2011
3 comments

The IEA has recently published articles by Mark Pennington on the subject of Ha Joon Chang’s 23 Things They Don’t Tell You About Capitalism. As Pennington addresses each of his...
Mark Pennington
17 August 2011
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In this third and final of the series on Ha Joon Chang’s critique of ‘free market economics’ I examine his account of ‘bounded rationality’ and the case for greater...
Mark Pennington
3 August 2011
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My first post on 23 Things They Don’t Tell You About Capitalism addressed Ha Joon Chang’s dubious debating tactics when discussing ‘free market economics’. I turn now to...
Mark Pennington
28 July 2011
1 comment

Professor Ha Joon Chang has become something of a hero to those who champion heterodox economic theory and who rail against the supposed intellectual hegemony of ‘neo-liberalism’. In a...
Mark Pennington
8 July 2011
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Last week saw large scale strike action from public sector workers here in the UK, campaigning against changes to pension arrangements and more generally ‘cuts’ to government spending....
Mark Pennington
29 June 2011
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The economic historian Professor Sheilagh Ogilvie is an intellectual heroine of modern classical liberalism. Her work on the operation of proto-industries such as woollens manufacture in sixteenth...
Mark Pennington
21 June 2011
1 comment

When advancing the case for ‘free markets ‘ classical liberals are often chided for failing to recognise the wisdom of Karl Polanyi. In The Great Transformation Polanyi claimed that the...
Mark Pennington
6 June 2011
2 comments

I haven’t been able to post for the last week or so owing to my lecturing on the Institute for Humane Studies Liberty and Society Summer Seminars (i’m currently between seminars). Last...
Mark Pennington
23 May 2011
2 comments

I am a Libertarian. I believe that market processes based on secure property rights and competitive ‘exit’ provide the best hope of discovering ‘solutions’ to the vast...

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