Summary Debanking became a news story in 2023 when Nigel Farage alleged that Coutts had closed his account because its … Continue reading “Debanked: The Economic and Social Consequences of Anti-Money Laundering Regulation”

In September 2022, the IEA published my paper Accounts and Accountability, which argued that the government’s proposals for further regulating … Continue reading “Audit reform: a short-lived victory for economic sense”

The idea of a universal basic income (UBI) has gained many supporters over recent decades. Put simply, UBI is an … Continue reading “Universal Basic Income: a pointless trial of a bad idea”

Summary The failures of BHS in 2016 and Carillion in 2018 prompted the government to launch three inquiries into financial … Continue reading “Accounts and Accountability: The UK Government’s misguided plans to regulate corporate reporting and auditing”

Jigme Dorji Wangchuck, the former King of Bhutan, declared in 1972 that “gross national happiness (GNH) is more important than … Continue reading “Is happiness all that matters?”

Summary: Corporate taxes are inefficient, with much greater deadweight costs than most other taxes. The optimal corporate tax rate is … Continue reading “All at Sea”

Wednesday last week was a happy day here at the Institute of Economic Affairs (IEA). George Monbiot of the Guardian … Continue reading “George Monbiot should study the subject he so often talks about”

Mariana Mazzucato is a professor of economics at University College London. She came to prominence following the publication of her … Continue reading “‘The Value of Everything’ adds up to nothing”

You must buy most things you want. But not healthcare. Healthcare is supplied at no charge by the state, funded … Continue reading “How the NHS hurts the poor”

Everyone objects to slavery. Employment should be voluntary. This liberal attitude towards labour does not extend to capital. A recent … Continue reading “Nationalisation misallocates capital – for the same reason that slavery misallocates labour”

The EU’s second Markets in Financial Instruments Directive (MiFID II) came into force earlier this month. According to the European … Continue reading “Statutory regulation vs private regulation”

I have a friend in New Zealand, whose real name isn’t Tim, and who is unusually witty. This gives Tim … Continue reading “Standard socialist fallacies #2: “Ability is power””

On 1 December, I participated in a panel discussion at the Indian Embassy. Is there a third way between socialism … Continue reading “Standard socialist fallacies #1: “Socialism is good for the environment””

Last week, I spoke on Sky News about the cap on public sector pay rises. The Guardian columnist Owen Jones … Continue reading “Is Owen Jones right that taxation is theft?”

The health system of my native New Zealand is much like Britain’s NHS: funded from general taxation, free at the … Continue reading “There’s no free lunch – and no free doctor’s appointment either”

George Osborne was Chancellor of the Exchequer from 2010 until July 2016. Now he is, among other things, editor of … Continue reading “George Osborne does not have a clue what a ‘free market’ is”

Today is the Adam Smith Institute’s tax freedom day, the symbolic day you stop working just to pay taxes and … Continue reading “Solidarity does not require taxation”

Myth busting is a risky business. If the myth you try to bust is in fact an important truth, you … Continue reading “Sorry, Ha-Joon Chang, but tax really IS a burden”

Jeremy Corbyn’s BBC interview with Andrew Neil last week caught the headlines for its discussion of the Labour leader’s views … Continue reading “What Jeremy Corbyn doesn’t know about government debt”

George Monbiot has brought a new meaning to “regular columnist” with his contributions to The Guardian. Not only does he … Continue reading “Hard to believe, I know, but: George Monbiot is wrong”

Peter Mandelson was the European Trade Commissioner from 2004 to 2008. You might expect him to know a thing or … Continue reading “In praise of naked trade”

What kind of domestic policies will Theresa May use her enlarged, post-election majority to pursue? That’s the question Michael Gove … Continue reading “Michael Gove is wrong. Laissez-faire Singapore is richer than statist Britain”

This is a fundamental question for any politician. Few answer it. They give particular answers to particular such questions, of … Continue reading “What should the government do, and what not?”

“Gravity exists. The world is round. Climate change is happening.” So tweeted Barack Obama’s advocacy group Organizing for Action on Monday, … Continue reading “Science Says So – politicians are exploiting our blind faith in the power of science”

Summary: Politicians and lobbyists who promote new regulations and taxes typically claim to have science on their side. Scientific evidence … Continue reading “Quack Policy – Abusing Science in the Cause of Paternalism”

Jamie Whyte is the Head of Research and Publications at Oliver Wyman, a strategy consulting firm specialising in the financial … Continue reading “Keynes vs Hayek debate”