Why are academics so fond of misrepresenting economic liberalism? Take the recent New Statesman article co-written by Adrian Pabst, a highly respected political theorist at the University of Kent, and the writer and researcher Ron Ivey. The authors are, of course, perfectly entitled to tear into what they call “market fundamentalism” – but in doing so they punch below ... Continue reading
Markets and Morality
When Marcus Rashford, the Manchester United footballer, called on the government to provide free school meals over the October half-term to disadvantaged children, the campaign received widespread support, with over 1 million signatures signed on the Rashford-led petition. Even so, the government whipped its MPs to vote against a Labour motion to extend free school ... Continue reading
Economic Theory
In many ways we take the financial sector for granted. We tend to assume that we would be more prosperous without it. Commentators often lament that clever mathematicians or physicists, for example, end up in the financial sector rather than becoming engineers and building bridges. Indeed, people down the ages have criticised the financial sector ... Continue reading
Markets and Morality

Mark Littlewood writes for The Times

Even the staunchest of free-market enthusiasts tends to accept a need for competition policy, but the marketplace often is more self-correcting than we think, writes IEA Director General Mark Littlewood. In his biweekly column for The Times, Mark argues that while big companies such as Twitter and Google do wield substantial power, very often this ... Continue reading
Markets and Morality
Oxfam has published its annual analysis of world wealth inequality, “The Inequality Virus”, this time with added Covid. Though its judgments and solutions are every bit as hackneyed as we’ve come to expect, this is also the most radical report we have seen from the charity, with its dramatic claims about the effect of the ... Continue reading

Mark Littlewood comments on "The Inequality Virus" report

Responding to "The Inequality Virus," a new report from Oxfam, Mark Littlewood, Director General at free market think tank the Institute of Economic Affairs, said: “Oxfam is right to highlight the impact the pandemic has had on the world’s poorest. However, the charity’s proposed solutions demonstrate a fundamental misunderstanding of both economics and poverty relief. ... Continue reading
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

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