Economic Theory
Opinion pieces which tell us to stop obsessing over socialism’s past failures, and start to get excited about its future potential, have almost become a genre in its own right. Socialism is, literally, in Vogue. For example, Bhaskhar Sunkara, the founder of Jacobin magazine, recently wrote a New York Times article, in which he claimed that ... Continue reading
Economic Theory
Mariana Mazzucato is a professor of economics at University College London. She came to prominence following the publication of her 2013 book, The Entrepreneurial State, in which she argued for a bigger economic role for the state, claiming that politicians and bureaucrats are more innovative than people risking their own money. According to the Financial ... Continue reading
Economic Theory
…continued from Part 1   On 21-24 June, the Alliance for Workers' Liberty organised the conference ‘Socialism Makes Sense: Ideas for Freedom 2018’ in London. One of the speakers was the IEA’s Dr Kristian Niemietz. The article below is based on his remarks.   So much for the economics. Now let’s move on to the ... Continue reading
Economic Theory
On 21-24 June, the Alliance for Workers' Liberty organised the conference ‘Socialism Makes Sense: Ideas for Freedom 2018’ in London. One of the speakers was the IEA’s Dr Kristian Niemietz. The article below is based on his remarks.   The key question over which we differ is whether there could be a version of socialism ... Continue reading
Economic Affairs
Subscribe to Economic Affairs CONTENTS: INTRODUCTION (page 165) JUSTIFICATIONS FOR REDISTRIBUTION: A CRITIQUE (Pages: 166-184) by Roland Vaubel IS UNIVERSAL SERVICE JUSTIFIED BY THE PUBLIC INTEREST? FROM THE EARLY DAYS TO THE DIGITAL AGE (Pages: 185-196) by Dmitrii Trubnikov Ekaterina Trubnikova ELECTRONIC CURRENCY IN AFRICA: M‐PESA AS PRIVATE INSIDE MONEY (Pages: 197-206) by Malavika Nair ... Continue reading
Economic Theory

Jamie Whyte appears on the BBC Daily Politics

In the past three years, almost 3,000 bank branches have closed. Jamie Whyte made a video for the BBC's Daily Politics "5 reasons why" to explain why we shouldn't be concerned about this. His five reasons were: Banks are closing branches because technology is making them redundant. Most banking transactions can now be done more ... Continue reading

Mark Littlewood writes for the Times Business

This evening England begin their World Cup campaign against Tunisia and the analysis of the outcome is likely to extend considerably beyond what happens on the pitch. No doubt, pubs showing tonight’s match will expect brisker trade than usual for a Monday, and the number of hangovers suffered by employees at work tomorrow will outstrip ... Continue reading
Economic Theory
Next time someone advocates a new government policy, here’s a simple test to tell whether they are serious or selling snake oil: are they willing to acknowledge the trade-offs inherent in their proposal? That might seem a banal – and low – hurdle to pass. But it has a remarkable ability to separate wheat from ... Continue reading

Rebecca Lowe appears on BBC Newsnight

Rebecca Lowe appeared on BBC Newsnight to discuss reforming capitalism following comments from Michael Gove MP earlier in the week. Rebecca argued that we need to make a distinction between capitalism and free markets. All too often what we see is rent-seeking and corporations trying to game the system, which amounts to crony capitalism. She also ... Continue reading
Economic Theory
…continued from Part 2   China’s Drive for National and Global “Greatness” In the case of China, President Xi Jinping rules over a Communist Party and a political dictatorship that rejects the very notion of individual freedom and a free-market economy. China is a peculiar mix of State enterprises and private businesses (great and small) ... Continue reading