Economic Theory
There seems to be a shortage of everything. Hauliers cannot recruit truck drivers; care homes cannot recruit enough care staff; there is a shortage of chefs; construction workers are in short supply as are many building supplies. Ikea is worried that it will not have stocks of many key items. It is quite possible that ... Continue reading
Governments want many contradictory things. They desire high levels of government spending but not high levels of taxation. They want to reduce carbon emissions whilst not charging the full rate of VAT on domestic fuel. And many in government want the university sector to contract without any universities actually disappearing. Now is the time for ... Continue reading
Economic Theory
If you ever talk to a civil servant, or even an MP, who knows something about economics, they are often keen to respond to free market arguments by citing the problem of ‘market failure’. They do this with no sense of irony or any apparent awareness of the failure of governments. Governments do not have ... Continue reading
Energy and Environment
Many so-called climate change activists are not really concerned about the climate and the environment. No, for them, these are merely instruments in the fight against capitalism. Examine the standard work of anti-capitalist climate change activists and you will quickly see what I mean: Naomi Klein, the popular critic of capitalism and globalisation, admits that ... Continue reading
Society and Culture
“Hey guys, wanna feel old? I’m 40. You’re welcome”, Macaulay Culkin – the actor who is most famous for having played the role of Kevin McCallister in the Christmas classics Home Alone (1990) and Home Alone 2 (1992) – tweeted last summer. His tweet received over half a million retweets, and over three million likes, presumably because it created a nice ... Continue reading
Trade, Development, and Immigration
On Monday 16th August 2021 we received an unusual request. The IEA is part of an international network of educational free market think tanks, the Atlas Network, and we have or had a partner in Afghanistan (AELSO) who, along with everyone else, were trapped by the unfolding disaster of the Taliban’s capture of the country. ... Continue reading
Energy and Environment
Most people believe that capitalism is to blame for climate change and environmental degradation. But numerous scientific studies have arrived at a surprising conclusion. Every year, the Heritage Foundation ranks countries around the world based on economic freedom in a kind of capitalism index. Analysis has shown that the world’s most economically “free” countries also registered ... Continue reading
Lifestyle Economics
Last year the World Health Organization launched a public consultation on its draft "Global Alcohol Strategy to Reduce the Harmful Use of Alcohol". It is not obvious that the world needs an alcohol strategy, nor does it seem an obvious priority for the WHO in the middle of a pandemic. National governments are quite capable ... Continue reading
Energy and Environment
At first glance, it is an argument that seems to make sense – and it would be crazy to oppose: since the earth’s raw material resources are finite, infinite growth is impossible. This leads many to conclude that, somehow, growth must be limited. What is there to this argument? Warnings about the limits to growth ... Continue reading
Having taken nearly 500 days to conduct a 90 day complaints process, Britain’s media regulator OFCOM ruled that it was not a breach of the Broadcasters Code for LBC presenter James O’Brien to make untrue statements about the IEA. O’Brien dedicated a part of two of his shows to fringe conspiracy theories, without researching alternative ... Continue reading