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

An IEA Book Club Event

The IEA Book Club was delighted to host a webinar with Michael Shellenberger, to discuss his latest best-selling book “Apocalypse Never: Why Environmental Alarmism Hurts Us All”, chaired by Mark Littlewood, IEA Director General. Michael has been fighting for a greener planet for decades. He is an author, environmental policy writer, a Time Magazine “Hero ... Continue reading
Energy and Environment
Modern environmentalists often identify as socialists. Members of Extinction Rebellion, for example, often advocate tearing down capitalism and supplanting it with ‘eco-socialism’. Go to any "Climate Strike" or similar type of event, and you will see more hammer and sickle flags, raised fist symbols and Socialist Workers Party posters than you can count.  Indeed, socialism ... Continue reading
Energy and Environment
I was sitting in a hot tub in Leningrad in the summer of 1990 when I realised the Soviet Union would fall. There were five of us, in our backpacking hostel’s back room, in a makeshift tub. The hot water poured in ceaselessly and poured out over the edge. Brought up in a household where ... Continue reading
Energy and Environment
The UK faces formidable environmental challenges, however, the government can utilise Brexit as an occasion to develop ambitious, sustainable and economically sensible policies to tackle climate issues. Since the implementation of the first Environmental Action Programme in 1972, the EU has been shaping the environmental policies of all its member states. Such is the extent ... Continue reading
Energy and Environment
The argument made by many such as George Monbiot that the protection of the environment requires the destruction of capitalism has no credibility given the relative success of socialist and market economies when it comes to the protection of environmental resources. However, even on a less dramatic level, it is remarkable how poorly designed government ... Continue reading
Innovation is a very important source of economic growth. It increases productivity and creates wealth by freeing up resources to be used for other activity and hence more output. Despite its economic importance, innovation is still not fully understood and is difficult to predict. In pre-modern societies, institutions and practices worked against innovation. Their main ... Continue reading
Whenever a government campaign, NGO or well-meaning public figure endorses lifestyle changes that can benefit the environment, there is a predictable outcry from the usual suspects. “Don’t blame everyday folks!”, they cry. “Just 100 companies are responsible for over 71% of global emissions!” While on the surface this claim stands up to factual scrutiny, digging ... Continue reading
Energy and Environment
“I don’t want you to listen to me – I want you to listen to the scientists. I want you to then unite behind the science – and take action.” These were the words spoken by Swedish climate activist Greta Thunberg to the US Congress last month. At face value, they are eminently reasonable. There ... Continue reading