Education
Universities minister Jo Johnson has reported that having a degree is worth on average £250,000 in higher lifetime earnings to a woman. “Remarkable”, you must be thinking. How can three years of being a student, instead of spending that time learning on the job and working one’s way up the career ladder, possibly make one ... Continue reading
Economic Theory
Between 3 – 8 July 2017, the Institute of Economic Affairs and the Adam Smith Institute jointly held Freedom Week, a series of seminars aimed at students with an interest in classical liberalism, at St Catharine's College, Cambridge. The IEA’s Dr Kristian Niemietz gave a talk on the ongoing appeal of socialism. The article below ... Continue reading
Trade, Development, and Immigration
The launch of a US/UK Working Group to discuss the future economic relationships between the two countries marks another important step towards a revival of global trade. The US may still not be first in line to sign a new trade deal with the UK when it leaves the EU (for now the frontrunner here ... Continue reading
Economic Theory
A little over 100 years ago, the American engineer Frederick Winslow Taylor outlined in his book Principles of Scientific Management the methods that a factory manager should use to maximise workforce efficiency on the production chain. Taylorism — the division of labour into ever more specialised tasks and the attempt at precise measurement of productivity — swiftly became synonymous ... Continue reading
Labour Market
We're joined by the Institute of Economic Affairs's Research Director Dr Jamie Whyte to discuss the benefits of the gig economy and the consequences of state intervention and protectionism. Jamie explains how the gig economy has benefited both consumers and workers, who are able to further embrace technology and flexibility in their jobs. Listen here:... Continue reading
Economic Theory
It is important for any expert to know their limits. It could be argued that economists ‘oversell’ themselves and pretend that they can predict things which they really cannot predict. If economists had a proper professional body, this would be a serious matter. If an accountant or a lawyer, for example, practices outside their area ... Continue reading
Government and Institutions
Not many people would have heard of the European Atomic Energy Community (Euratom) until recently and even fewer will have had it in the front of their minds when voting on the UK’s membership of the EU. And yet the current furore over nuclear cooperation has the potential to cause a chain reaction that derails ... Continue reading
Labour Market
The Taylor Review – introduced in the first chapter by ‘Matthew’, as our demotic times seem to require – is an interesting piece of work. He sets out ‘seven steps towards fair and decent work with realistic scope for development and fulfilment’. First, that the same basic principles should apply to all forms of employment: there ... Continue reading
The IEA's latest podcast features our Head of Education Dr Steve Davies to discuss: Is the basic income a good idea? Interviewed by the IEA’s News Editor Kate Andrews, the pair discuss this idea which is gaining traction across the political spectrum. Steve and Kate agree that a basic income could form a viable alternative to ... Continue reading
Government and Institutions
The new mantra of the people is “tax more, spend more”, at least according to the British Social Attitudes 2017 findings, released yesterday. For the first time since 2004, more Brits (48 per cent) support government increasing the tax take than support keeping it around the same level (44 per cent). Many are hailing this ... Continue reading