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

Dr Kristian Niemietz writes for CapX

Modern socialists get away with claiming its failures are due to a lack of democracy, not the failure of socialism itself, says Dr Kristian Niemietz, Head of Political Economy at the Institute of Economic Affairs. Writing for CapX, Kristian argues that the economic failures of socialism never had anything to do with a lack of ... Continue reading
Economic Theory
In the run-up to his big speech, all the talk was of the Prime Minister promising a ‘Rooseveltian’ New Deal for Britain. Fortunately, when it came to it, he wasn’t promising anything of the sort. Why fortunately? A tale of two countries provides the answer. Despite all the hardship that was endured (especially in the ... Continue reading
Economic Affairs
Subscribe to Economic Affairs Contents: Introduction (page 129-130) Coronavirus Pandemics and the consequences of COVID-19 (pages 131-37) by Steve Davies The UK lockdown and the economic value of human life (pages 138-147) by Julian Jessop Italy and COVID-19: Winning the war, losing the peace? (pages 148-154) by Nicola Rossi, Alberto Mingardi Beyond COVID-19 lockdown: A ... Continue reading
The IEA has just published a new Covid-19 Briefing Paper that I have written, Coronavirus and the Economic Value of Human Life, or, as the sub-title puts it, Is the lockdown worth it?. The pandemic has provided many grim examples of some familiar problems in health economics and cost-benefit analysis, and of the “tragic choices” ... Continue reading
I normally do not pay attention to implicit political messages in movies or TV series. I blank out a movie’s politics deliberately, because I already know in advance that I’ll disagree with it, that I’ll find it silly, and that concentrating on it would just ruin the movie for me. In recent weeks, however, lockdown-induced ... Continue reading

Dr Kristian Niemietz talks to the New Zealand Taxpayers' Union

By many measures, socialist ideas are more popular than ever, with academics and increasingly hip activists unashamedly promoting the collective ownership of wealth and centralised government-led decision making. Dr Kristian Niemietz spoke to the New Zealand Taxpayer's Union about his book "Socialism – The Failed Idea that Never Dies", listen here.... Continue reading

Professor Philip Booth quoted in The Times

Britain may end up with  "government control of increasing chunks of the economy, as well as poor corporate governance as businesses end up being run by a mix of bureaucrats and politicians without clear rules and guidelines on how to operate" says Professor Philip Booth, IEA Senior Academic Fellow. Philip was quoted in The Times ... Continue reading