Economic Theory
In the past 100 years, there have been attempts to build socialist societies in at least 24 countries around the world. Soviet socialism was different from the socialism in China, Yugoslavian socialism was different from socialism in Cuba, North Korea’s was different from Vietnam’s, and in Albania it was different from the GDR. Without exception, ... Continue reading

IEA research referenced in Washington Examiner

Research conducted by IEA Head of Political Economy, Dr Kristian Niemietz, was referenced in an article for the Washington Examiner. Kristian's book 'Socialism: The Failed Idea That Never Dies' was referenced as evidence that every socialist experiment has failed and contributed to appalling human rights atrocities and economic collapse. Read the full article here.... Continue reading

Mark Littlewood writes for The Times

Polling data from new IEA paper 'Left Turn Ahead' has revealed that support for socialism and anti-capitalist sentiment is at a remarkably high level among young people. Writing his biweekly column for The Times, IEA Director General Mark Littlewood argues that the drift away from support for capitalism may well continue until major businesses decide ... Continue reading
Commenting on the 0.8 per cent GDP increase in May, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said: "The 0.8 per cent increase in GDP in May was slightly disappointing and means that the UK economy was still 3.1 per cent smaller than the pre-Covid level seen in ... Continue reading
Economic Theory
The government’s new state aid system, which is intended to ‘support UK jobs and businesses, boost the economy and strengthen the union’ seems to have been welcomed, albeit cautiously, by commentators. I am afraid I find it difficult to muster enthusiasm. Business Secretary Kwasi Kwarteng has been at pains to emphasise that ‘we will not ... Continue reading
Economic Theory
June 22 marked the 80th anniversary of Hitler’s invasion of the Soviet Union. The assault was largely influenced by economic considerations. Economic factors played a decisive role in Hitler’s thinking, as I demonstrated in detail in my book Hitler. The Policies of Seduction. Hitler’s goal was to conquer new ‘living space’ (Lebensraum) in the East, ... Continue reading
In a normal year Britain runs a huge “deficit” on its tourism account. In 2017, for example, Brits drained the economy of £53.9bn seeking sunshine or, shall we say, cultural experiences abroad. Inbound visitors spent only £28.2bn, so the account deficit was a whopping £25.7bn. With international travel severely supressed by Covid restrictions, current sums ... Continue reading
Economic Theory
Strategies based on Behavioural Economics — ‘nudges’— now inform policy thinking in areas as diverse as obesity, tax compliance, smoking, energy use, consumer protection, drug abuse, retirement savings, and organ donations, to name just a few. When it comes to voting, nudge proposals have mostly been restricted to increasing voter turnout. But I think we ... Continue reading

Annabel Denham writes for The Times

In an article for The Times Red Box, IEA Director of Communications Annabel Denham wrote about the need for Britain to embrace economic liberalism and fight against the growing big government consensus emerging in British politics. Annabel argued: "Classical liberals have long found themselves at odds with the Conservatives across a range of policy areas, ... Continue reading
Economic Theory
Working at home is something many of us have got used to – maybe too used to – over the last year. In a strange way we are recreating the experience of our ancestors. For most of human history home working was the norm – whether peasants working on family farms, mediaeval craftsmen and women ... Continue reading