Markets and Morality
According to much of the journalistic commentary, Pope Francis has recently issued an encyclical on economics. Reuters, the New York Post, MSN…, the list goes on. All have similar headlines along the lines of: “Pope says trickle-down policies fail society” or “Pope says free market has failed in the pandemic”. Some of the headlines are ... Continue reading
Markets and Morality

Julian Jessop writes for Times Red Box

"The costs of the first national lockdown soon began to outweigh the benefits. A repeat of this, even by the back door, could be a blow from which both the economy and society would take much longer to recover" says Julian Jessop, IEA Economics Fellow. Writing for Times Red Box, Julian argues "a zig-zag policy ... Continue reading
Markets and Morality

IEA research featured in The Times

The Times reports on a new IEA publication by Professor Kevin Dowd and Dr Dean Buckner, which finds the Bank of England’s supervision of the financial sector has “turned out to be a disaster, again”. The report looks at how well capitalised British banks are and how strongly the market views them, compared to ahead ... 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
Markets and Morality

IEA research covered by The Times

The Times reported on the release today of new IEA briefing paper 'Model Behaviour: How economists can shape the post-lockdown world' by Paul Ormerod which argues "[e]conomists must play a bigger role in shaping public policy on how the lockdown should be lifted". The report goes on to say "[f]ears about a second wave of ... Continue reading
On the 70th anniversary of the foundation of the NHS, I took part in an episode of BBC Radio 4’s Moral Maze show. I expected it to be quite confrontational, but it ended up being more of talking past each other than anything. I argued that the NHS was not a particularly good healthcare system, ... Continue reading

Mark Littlewood writes for The Telegraph

While those attending Davos may be genuinely well-intentioned, but "those committed to free markets, enterprise and giving a fair crack of the whip to the little guy should treat the forum with extreme scepticism", says the IEA's Director General Mark Littlewood. Writing for The Telegraph, Mark argues that the summit is the standout example of ... Continue reading
Markets and Morality
At most universities - and above all in their humanities faculties - capitalism is a dirty word. It has very few supporters and many vehement critics. But why are so many intellectuals offended by the idea of free-market capitalism? Many of them fail to understand the nature of free-market capitalism as an economic order that ... Continue reading
Commenting on Oxfam’s latest report 'Time to Care', Mark Littlewood, Director General at the Institute of Economic Affairs said: “Oxfam’s obsession with the top one percent once again distracts from the real issue of poverty. “If the charity’s goal is to end world poverty, Oxfam should be making the case for ensuring the right institutional ... Continue reading