There is a strong case to be made that the most important pre-requisite for a sustainable environment is a society that has a sophisticated, comprehensive and respected set of institutions based on private property. This will not necessarily solve all problems, but it is a good start. As Thomas Aquinas put it, in one of ... Continue reading
Economic Theory
Socialism is popular in Britain. More popular than capitalism, at any rate. That was the result of a YouGov survey last year, in which 36% of respondents expressed a favourable view of socialism, while only 32% expressed an unfavourable one. Capitalism, meanwhile, is viewed unfavourably by 39% of respondents, while only 33% view it favourably. ... Continue reading

Mark Littlewood appears on BBC Question Time

Mark Littlewood, Director General at the Institute of Economic Affairs appeared on BBC Question Time last night alongside David Mundell MP, John Swinney MSP, Shadow Attorney General Shami Chakrabarti and author Val McDermid. You can watch the full programme here. On whether Scotland should hold a second independence referendum following the Brexit vote:  "The 2014 ... Continue reading
Government and Institutions
The challenge for Greece is how to reduce taxes without lowering government revenue in a stagnant economy that is under tight fiscal monitoring by its lenders. Global experience has shown that one of the most effective ways to increase economic activity, and eventually increase tax revenue, is to reduce corporate taxes. There is a wide ... Continue reading
Government and Institutions
The financial crash knocked some of the stuffing out of the economics profession, though you wouldn’t know it given the confidence with which economists still parade their forecasts. A few – especially those with a monetarist or Austrian inclination – publicly expressed concern about policy in 2005-2007, but nobody from the mainstream predicted a financial ... Continue reading

Chris Snowdon writes in City AM

Christopher Snowdon, Head of Lifestyle Economics at the Institute of Economic Affairs has written for City AM on why the House of Lords should be abolished. In the article Chris argues that the whole idea of unelected politicians is problematic. By replacing hereditary peers with government cronies, we created a shadow state that stands for ... Continue reading
Government and Institutions

Kate Andrews appears on The Guardian podcast

Kate Andrews, News Editor at the Institute of Economic Affairs took part in a Guardian podcast where topics discussed included Brexit, Trump and lots more. In the podcast Kate discusses Brexit, the state of the Labour party, the slashing of corporation tax, whether or not Trump should be banned from the UK. Kate argues that ... Continue reading
Government and Institutions
Last month saw the publication of a Public Health England (PHE) report on alcohol which promoted various interventions in the market, including minimum pricing, tax rises and plain packaging. Although it purported to be an evidence review, the standard of analysis was worryingly poor. The Department of Health must decide if PHE is to be ... Continue reading
Government and Institutions
...continued from Part 2.   Would a Return to a National Currency without Institutions Work? Some economists like Stiglitz claim that Greece should give up on the eurozone and exit the common currency. But even if Greece did abandon the euro and was able to reintroduce a heavily devalued version of the drachma to regain ... Continue reading
Government and Institutions
...continued from Part 1.   The Institutional Problem Revealed through Global Indices One could arguably blame the aforementioned problems in Greece on the lack of credible institutions. Research in economic and political science has shown that stable and well-functioning institutions have played a key role in the success of today’s Western world. The key to ... Continue reading