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

UK must embrace innovation to make farming economically & environmentally viable, says new IEA report

Innovation in farming has led to higher crop yields which, in turn, have allowed more land to be spared from farming than would otherwise have been the case. Raising yields further to feed a growing global population will require new technologies to be embraced, including genetic modification, gene silencing and editing, as well as developments ... Continue reading

IEA sets out framework for independent UK Fisheries policy

IEA sets out framework for independent UK Fisheries policy The primary objective of a UK fisheries policy should be to balance the goals of ensuring a viable future for commercial fishing in UK waters, ensuring sustainability, and enabling UK consumers to have access to cheaper fish and fish products. This should be based on a ... Continue reading

Brexit provides real opportunity to bring down electricity bills for low-income households

Executive Summary: Electricity charges for households in England and Wales have risen by 50 per cent in real terms since 2001, partly as a result of policies designed to reduce greenhouse gas emissions. The decarbonisation policies adopted have been complex and inefficient, and have also been contradicted by other measures such as the reduced rate of VAT ... Continue reading

Don't let the lights go out at Christmas - EU policies hampering UK electricity market

To purchase a copy of Power Cut? How the EU is Pulling the Plug on Electricity Markets at £15 each, click here For orders of five or more copies, please email [email protected] to discuss discounts Summary: Technical features of the electricity industry, together with the ideological climate that prevailed after World War II, led to nationalisation. ... Continue reading

Government must step back from energy markets to lower prices

Summary: For a short period, around the turn of the millennium, the UK energy market was highly competitive, offering choice to consumers and keeping prices in check. Since then, governments have reverted to centralised action, importing many of the defects of discredited Soviet-style planning. In particular, they effectively control the types of power stations that ... Continue reading

Not only is fuel duty unfair on motorists, it also puts British companies at a competitive disadvantage

Executive summary: Taxes comprise 60 per cent of the cost of a litre of petrol or diesel. Fuel duty will contribute about £33 billion to the Treasury in 2012.[1] Currently, revenues from fuel duty and road tax exceed expenditure on roads by £30 billion per annum. Investment in road improvements has collapsed over the last ... Continue reading

New IEA paper argued that reforms are needed to encourage more choice and more trading in Britain’s water market.

Tackling water shortages and ensuring water costs are kept low for consumers requires changes in how water is regulated. A new report, Water: Supply, Prices, Scarcity and Regulation, by former water regulator, Sir Ian Byatt (who set up Ofwat) argues that the focus on environmental enhancement, rather than limiting prices, has driven up costs for ... Continue reading

The international bestseller which suggests that global warming is a natural, cyclical phenomenon that has not been caused by human activities

In this New York Times bestseller, authors Singer and Avery present the compelling concept that global temperatures have been rising mostly or entirely because of a natural cycle. Using historic data from two millennia of recorded history combined with natural physical records, the authors argue that the 1,500 year solar-driven cycle that has always controlled ... Continue reading

A collection of fine essays in recognition of Colin Robinson

Energy in a Competitive Market brings together both prominent academics and practitioners to honour Colin Robinson’s outstanding and unique contribution to energy economics. The authors cover a wide and fascinating selection of topics incorporating the whole spectrum of energy economics. In doing so, they examine the belief that markets are the key to the effective ... Continue reading