Annabel Denham writes for Reaction

"The government appears to favour using its spending power in an attempt to stimulate new employment"  writes the IEA's Director of Communications Annabel Denham. In a column for Reaction, Annabel argues that the ongoing increase in government intervention and public spending will stunt our bounce back. Read the full article here.... Continue reading
Economic Theory
According to The Times, Rishi Sunak is considering a proposal for a UK-wide carbon tax. The Chancellor can see two advantages to such a scheme. It would help towards the goal of zero net emissions by 2050 while also raising substantial revenue (a figure of £27 billion by 2030 is quoted), thus reducing the amount by ... Continue reading

Kristian Niemietz quoted in The Times

An extract from 'Socialism: The Failed Idea that Never Dies' by IEA Head of Political Economy Dr Kristian Niemietz is quoted by columnist Daniel Finkelstein in The Times. Finkelstein argues that the government is right to include overthrowing capitalism in its list of extreme stances when it comes to organisations supply teaching materials in schools. ... Continue reading
The BBC has come under severe criticism recently for the way in which some of its senior figures seem to be keen to ditch the nation’s history, apparently because many of the party pieces at the Last Night of the Proms are anachronistic. As many people who understand the origin of the words of “Rule, ... Continue reading
Economic Theory
The reactions of much of the commentariat in the UK and elsewhere to the policy challenge represented by the coronavirus seem to reflect the polarised state of contemporary political discourse. Some maintain that governments were too slow in responding to the pandemic and that lockdowns when they came should have been more rigorously enforced. Then ... Continue reading
Economic Theory
There is a lively debate among economists about the ways in which UK statisticians have estimated the impact of Covid-19 and the lockdown on the public sector’s contribution to GDP. This is a relatively arcane topic, but important. As David Smith has put it, “did the official statisticians exaggerate the UK’s coronavirus recession by incorporating ... Continue reading
Research
Summary Socio-economic systems should be understood as ‘complex’ phenomena that cannot effectively be controlled or managed through central planning. In general, markets and other decentralised governance mechanisms that rely on competition and signalling are better placed to facilitate learning and adaptation in conditions of complexity. Pandemics such as the new coronavirus are also complex systems ... Continue reading
Economic Theory
One of the frustrating things about being an economist is that people listen to you when they shouldn’t, and refuse to listen to you when they should. When it comes to issues that most economists don’t really understand all that well, people often attribute sage-like qualities to us, ludicrously overrating our judgement. But when it ... Continue reading
Economic Theory
Dr Kristian Niemietz' work 'Socialism: The Failed Idea That Never Dies: is referenced in the National Review in a piece looking at the state of socialist ideas in US politics today. The piece notes US Democrat Socialists' attempts to disavow previous socialist experiments and references Niemietz' theory that eventually, all socialist experiements do this, "as ... Continue reading
Economic Theory
Imagine a country with a dictatorial government introduced some completely irrational and destructive policy. Let’s say, they ban modern medicines, and as a result, the number of people dying from curable diseases explodes. Or they embark on some large-scale government prestige project which uses up huge amounts of water, and as a result, they suffer ... Continue reading