The news that the Advertising Standards Authority (ASA) has banned adverts for Philadelphia cheese and Volkswagen eGolf cars looks like a classic silly season story, a filler for phone-in radio. But I think it’s worrying. The advertisers are accused of “perpetuating harmful stereotypes”. In the first case this was by portraying men as “unable to ... Continue reading

Professor Len Shackleton writes for CapX

The Advertising Standards Agency is causing financial harm and damaging the UK's leading advertising sector by banning adverts on spurious grounds in the name of combating gender stereotypes, says Professor Len Shackleton, Editorial and Research Fellow for the Institute of Economic Affairs. Writing for CapX, Len argues the ASA has over-stepped the mark and gone ... Continue reading

Andy Mayer is quoted in the Daily Star

The IEA's Chief Operation Officer Andy Mayer has been quoted by the Daily Star on Labour's proposal to send workers home when office temperatures hit 30C. "But their proposals risk fuelling the problem by forcing employers to install energy-guzzling air conditioning units – which is adding to climate change. "The free-market think-tank, the Institute of Economic ... Continue reading

Andy Mayer is quoted in The Sun

The IEA's Chief Operating Officer Andy Mayer has been quoted by the Sun on Labour's proposal to make employers send home employees temperature tops 30C. "But their proposals risk fuelling the problem by forcing employers to install energy-guzzling air conditioning units – which is adding to climate change. "The free-market think-tank, the Institute of Economic ... Continue reading

Philip Booth writes for City A.M.

Governments need to move away from monopoly regulators and allow financial market self-regulators to compete, says Professor Philip Booth, Senior Academic Fellow at the IEA. Writing in City A.M., Philip notes that the growth of financial regulation seems "inexorable", in 1980 there was one UK regulator for every 11,000 people employed in finance, compared to ... Continue reading
Regulation
Is there any end to the growth of government financial regulation? What good does it do? Does the endless quest to solve problems by writing more rules actually achieve the objectives that financial regulation is supposed to achieve? Why, when regulation clearly made aspects of the financial crash more likely and exacerbated their effects, was ... Continue reading
Research

The example of financial services

There are frequent calls for financial markets to be more actively regulated. In nearly all cases it is assumed that regulation must come from state agencies such as the Financial Conduct Authority or the Prudential Regulation Authority. This analysis arises from neo-classical, market-failure approaches to economics which suggest that the market does not maximise welfare ... Continue reading
The financial crash triggered a new age of increased regulation and state intervention in financial services. This was a knee-jerk reaction that assumed all regulation must come from the state, ignoring hundreds of years of successful self-regulation in the market, according to a new report from the Institute of Economic Affairs. The report, ‘Regulation without the ... Continue reading
Regulation
When the BBC reported last month that Arron Banks had given £450,000 to Nigel Farage, I tweeted ironically: “So now we know why Mr Farage keeps banging on about leaving the EU. He’s been funded by a notorious Eurosceptic”. As should be obvious, the joke here is that everybody knows that Nigel Farage has been ... Continue reading

Catherine McBride writes for City AM

Catherine McBride, Senior Economist in the International Trade and Competition Unit at the IEA, writes for City AM on the Markets in Financial Instruments Directive (Mifid) II. The regulatory reform was designed to improve competition and transparency but, Catherine argues, increases costs for smaller financial services companies, shutting them out from capital raising opportunities. Read ... Continue reading