Paul Withrington was one of transport’s visionaries. His ideas promised a transformation in connectivity, with rapid, low-cost journeys right into … Continue reading “Paul Withrington, R.I.P.”

Britain’s railways were privatised in the 1990s, but the policy remain controversial. A recent survey found that 60 per cent … Continue reading “Government meddling has put Britain’s trains on the wrong track”

Overfishing is often presented as a classic example of market failure. When individual fishing enterprises are competing, the benefits of … Continue reading “Is there a free-market solution to overfishing?”

In welfare states, the economic benefits from immigration may be eroded by the additional costs of government handouts and public … Continue reading “Maximising the benefits of EU immigration”

Transport for London spends vast sums increasing the capacity of overcrowded Tube stations. The King’s Cross and Victoria upgrades, for … Continue reading “Should Tube users pay more to use overcrowded stations?”

There have been various attempts to regenerate the cities of the North over the last fifty years or so. All … Continue reading “Re-heating regional policy: flaws in the ‘Northern Powerhouse’”

Britain’s railways were privatised in the mid-1990s. This did not however mean an end to state control. The government tightly … Continue reading “Why rail fares should be deregulated”

London’s population is forecast to hit 10 million in 2030 and it’s difficult to see how the transport system will … Continue reading “How railway conversion could end the commuter squeeze”

The recent announcement that the projected cost of Crossrail 2 has risen to £27 billion should be cause for deep … Continue reading “The debt dangers of Britain’s infrastructure craze”

Rail fares per passenger-kilometre are on average around 30 per cent higher in Britain than in comparable Western European countries. … Continue reading “Is privatisation to blame for high rail fares?”

The government spends a staggering £90 billion per annum on education. It is the largest item after health and welfare. … Continue reading “Does the government spend far too much on education?”

History is unlikely to be kind to George Osborne. Four years after he became Chancellor, the national debt has exploded, … Continue reading “Osborne’s pre-election gimmicks do little to address Britain’s long-term economic problems”

The government’s deregulation programme doesn’t seem to be progressing very well. Indeed during the recent party conference season numerous additional … Continue reading “The best way to help tenants is to cut red tape for landlords”

In a 1965 book, The Logic of Collective Action, the American economist Mancur Olson explores the impact of special interest … Continue reading “High Speed 2 and the logic of collective action”

If major roads were privately owned and freed of government regulation, the setting of speed limits would be a commercial … Continue reading “The case for raising speed limits”

George Osborne continues to make the same error he made in previous budgets. He is assuming the British economy will … Continue reading “Chancellor still taking a dangerous gamble on future growth”

The British government is right to be examining ways of shielding taxpayers from the costs of bank failure. However, proposals … Continue reading “Plan to ring-fence banks misguided”

Taxpayer subsidies to the rail sector have reached astronomical levels. At £6 billion per year (including Crossrail), they have roughly … Continue reading “Why are rail subsidies so high?”

At the time of the last Autumn statement, the Office for Budget Responsibility (OBR) was predicting growth of 0.7 per … Continue reading “The Chancellor is still gambling on strong medium-term growth”

Today’s agreement on energy policy, ahead of the forthcoming introduction of the Energy Bill, shows the government remains committed to meeting … Continue reading “Energy Bill will impose immense costs on households and businesses”

According to a review commissioned by the Department of Social Security, ‘the costs of travelling to work will … be … Continue reading “The impact of fuel duty on work incentives”

Executive summary: Taxes comprise 60 per cent of the cost of a litre of petrol or diesel. Fuel duty will … Continue reading “Time to Excise Fuel Duty?”

The government’s new plan for a two-tier road tax system has many shortcomings. In particular, it fails to address the … Continue reading “Roads must be taken out of political control”

Relying on growth was always going to be a risky strategy. Yet a healthy recovery, with robust GDP increases of … Continue reading “Cut more, regulate less”

Is electrifying branch lines in Wales a top priority for transport investment? It seems unlikely. But then again the government’s … Continue reading “The government is off track with its uneconomic transport policy”

Mancur Olson is best known for his 1965 book, The Logic of Collective Action, in which he explained why small, … Continue reading “The deeper causes of Britain’s economic stagnation”

The National Health Service enjoys strong support among the public, making it almost impossible to introduce radical reforms, even if … Continue reading “How to abolish the NHS”

Capitalism has a problem. Increasingly it is viewed as a deeply unfair system favouring a small, privileged elite at the … Continue reading “Politicians are to blame if we have crony capitalists”

Housing minister Grant Shapps recently announced plans to make the unauthorised subletting of social housing a criminal offence, with offenders facing up … Continue reading “New plans by Grant Shapps are a recipe for increasing homelessness”

As the economic slump persists, calls are growing for an increase in infrastructure spending as a means of boosting growth. … Continue reading “Infrastructure stimulus will be counterproductive”

The Autumn Statement showed that George Osborne has failed to grasp the gravity of the economic crisis facing the UK. … Continue reading “Osborne looked to special interests, not the UK’s perilous state”

European leaders are advocating greater fiscal integration in response to the ongoing euro crisis. Despite their professed euroscepticism, David Cameron and … Continue reading “Euro crisis: the dangers of fiscal integration”

Earlier this week, in a piece for ConservativeHome, Karen Lumley MP launched an astounding attack on the IEA’s latest research … Continue reading “High Speed 2 is a flawed project”

Britain’s transport sector is cursed by endless intervention by politicians. Investment has tended to be driven by political priorities rather … Continue reading “Politicians should get out of the transport market – starting with High Speed 2”

The recent history of Britain’s railways has undoubtedly brought the whole concept of privatisation into disrepute. But this is unfair. … Continue reading “Regulation, not privatisation, to blame for inefficient railways”

Despite the cuts, the coalition Government will raise our national debt by almost £500bn over this Parliament. This is just … Continue reading “Set the economy free to meet tough challenges ahead”

They were warned. In the late 1990s, eminent economists queued up to explain the flaws in the euro project. Chief … Continue reading “Euro crisis no surprise to economists”

In this year’s Budget, George Osborne had the opportunity to bolster economic recovery by removing barriers to growth. Alongside some welcome … Continue reading “Osborne’s Budget chips away at the top of an iceberg”

Radio 4 has produced a documentary on F. A. Hayek and the Austrian school of economics. The programme, Radical Economics: Yo … Continue reading “Radio 4 documentary on the Austrian School – Radical Economics: Yo Hayek!”

Classical liberals can point to numerous examples of robust economic growth coinciding with low taxes and light-touch regulation: Britain in … Continue reading “Bad news for social democrats – the “Swedish model” doesn’t work”

In the context of Britain’s fiscal crisis, today’s rise in VAT from 17.5% to 20% may be seen by some … Continue reading “Why raising VAT destroys wealth”

When Transport Secretary Philip Hammond announced last week that the government would procede with three big rail projects – High … Continue reading “Hammond’s Soviet-style rail policies”

A single claimant of Jobseeker’s Allowance or Income Support aged 18-24 receives £51.85 a week. This goes up to £65.45 … Continue reading “Fairness in benefits could save billions”

Today, the Public Sector Pensions Commission – which was established in autumn 2009 by the IEA, the Institute of Directors … Continue reading “How to reform public sector pensions”

For perhaps only the second time in its history the IEA will feature in a comic book.

(video).

Even Margaret Thatcher didn’t manage to dismantle Britain’s disastrous welfare system. Judging by the policy plans of the Lib-Con coalition, … Continue reading “Making the country work again”

The Conservatives have abandoned their manifesto commitment to raise the Inheritance Tax threshold as part of the coalition deal with the … Continue reading “The Conservatives should have stood firm on Inheritance Tax”

With the opinion polls pointing to a close result and the prospect of a hung parliament , turnout is expected … Continue reading “Is it worth voting?”

The heavily publicised deaths of two teenagers in Lincolnshire who took mephedrone (known as “meow meow”) has led to calls … Continue reading “Banning “meow meow” would be counterproductive”

The cost of Housing Benefit (HB) has exploded over the last five years, rising from £13.5 billion in 2004/05 to £20 … Continue reading “How to cut Britain’s £20 billion Housing Benefit bill”

to the current crisis.

The pioneers of Britain’s welfare state may have had good intentions. By founding the National Health Service (NHS) in 1948, … Continue reading “Britain’s NHS nightmare: a warning to America”

The news that the UK has dropped out of the top-ten countries in the Index of Economic Freedom should act … Continue reading “Index of Economic Freedom: UK drops out of top ten”

Around 235 million passengers passed through Britain’s airports in 2009. Most of those – both arriving and departing – will … Continue reading “The economics of airport security”

The current cold snap has led to widespread disruption on Britain’s roads. Much of the network has been left untreated … Continue reading “Snow chaos – could private roads do better?”

, featuring Nigel Lawson and S. Fred Singer , is now online (videos)

Two recent IEA authors have been awarded the 2009 Nobel Prize in Economic Sciences. Elinor Ostrom and Oliver E. Williamson … Continue reading “IEA authors win Nobel Prize for Economics”

if we want a less oligopolistic financial sector

From China to California, the current slump has been marked by enthusiasm for high-speed rail. Projects typically form part of … Continue reading “Obama’s folly: high-speed rail in America”

Fuel duty rose by 2p this week, the third increase in the last ten months. Governments tend to view petrol … Continue reading “Fuel duty: the hidden costs”

is a bad idea at the wrong time

The government recently announced a series of measures designed to make Britain a low-carbon economy, including a large expansion of … Continue reading “The dark side of climate change policy”

The development economist Peter Bauer famously observed that “Aid is the process by which poor people in rich countries subsidise … Continue reading “Cameron should focus on free trade rather than foreign aid”

 

The last decade has been marked by a combination of low savings rates and high debt levels in both the … Continue reading “Time preference, economic crisis and social decline”

Britain now faces its worst ever peacetime fiscal crisis , yet our politicians seem incapable of grasping the seriousness of the situation.

Amid all the discussion of ‘severe cuts’, perhaps the most important fact to come out of today’s Comprehensive Spending Review is … Continue reading “Osborne’s economic gamble”

There are over 1,000 quangos in the UK. Today’s news that 192 of them are to be abolished appears to … Continue reading “Bonfire of the quangos is mostly hot air”

David Cameron’s conference speech has arguably provided observers with important insights into the ideologies helping to drive coalition policy. Worryingly, … Continue reading “David Cameron’s conference speech lacked intellectual coherence”

The Equality Act came into force yesterday. It strengthens anti-discrimination law and will make it easier for members of specified groups … Continue reading “Equality Act shows coalition isn’t serious about deregulation”

Public sector workers are understandably concerned about the outcome of the Comprehensive Spending Review (CSR). Trade union leaders have recently … Continue reading “Big government is here to stay”

Those of us who hope the Liberal Democrats will reject socialism and embrace true liberalism have many reasons to be … Continue reading “Lib-Dem socialism is poisoning the coalition’s agenda”

A single claimant of Jobseeker’s Allowance or Income Support aged 18-24 receives £51.85 a week. This goes up to £65.45 … Continue reading “Fairness in benefits could save billions”

The dismal economic returns on the Channel Tunnel Rail Link are a stark warning to supporters of a high-speed line to … Continue reading “Time to pull the plug on Eurostar?”

Today, the Public Sector Pensions Commission – which was established in autumn 2009 by the IEA, the Institute of Directors and … Continue reading “How to reform public sector pensions”

For perhaps only the second time in its history the IEA will feature in a comic book. The first instance … Continue reading “IEA to feature in comic book on Margaret Thatcher”

●  Mark Littlewood discusses cutting public spending on BBC Newsnight (video).   ●  Philip Booth critiques the coalition’s plans on … Continue reading “Economics on the web”

Even Margaret Thatcher didn’t manage to dismantle Britain’s disastrous welfare system. Judging by the policy plans of the Lib-Con coalition, … Continue reading “Making the country work again”

The Conservatives have abandoned their manifesto commitment to raise the Inheritance Tax threshold as part of the coalition deal with the … Continue reading “The Conservatives should have stood firm on Inheritance Tax”

With the opinion polls pointing to a close result and the prospect of a hung parliament, turnout is expected to … Continue reading “Is it worth voting?”

●  Philip Booth suggests it is not “morally bankrupt” to oppose a “Robin Hood” tax ●  Patrick Basham criticises the … Continue reading “Economics on the web (28.3.10)”

The heavily publicised deaths of two teenagers in Lincolnshire who took mephedrone (known as “meow meow”) has led to calls … Continue reading “Banning “meow meow” would be counterproductive”

The cost of Housing Benefit (HB) has exploded over the last five years, rising from £13.5 billion in 2004/05 to £20 … Continue reading “How to cut Britain’s £20 billion Housing Benefit bill”

In this extract of an interview with John O’Sullivan, F. A. Hayek discusses the Great Depression and the influence of … Continue reading “Hayek on Keynes”

" ●  Philip Booth criticises bishops for supporting counterproductive welfare policies ●  David Henderson argues Climategate is just the tip … Continue reading “Economics on the web (27.02.10)”

The pioneers of Britain’s welfare state may have had good intentions. By founding the National Health Service (NHS) in 1948, … Continue reading “Britain’s NHS nightmare: a warning to America”

" ●  Gary Becker explains how to increase employment ●  Samuel Gregg discusses Latin America after the Left    ●  JP Floru … Continue reading “Economics on the web (30.1.10)”

The news that the UK has dropped out of the top-ten countries in the Index of Economic Freedom should act … Continue reading “Index of Economic Freedom: UK drops out of top ten”

Around 235 million passengers passed through Britain’s airports in 2009. Most of those – both arriving and departing – will … Continue reading “The economics of airport security”

The current cold snap has led to widespread disruption on Britain’s roads. Much of the network has been left untreated … Continue reading “Snow chaos – could private roads do better?”

Alistair Darling is staring into the abyss. Unless he makes severe cuts to government spending there is a real risk … Continue reading “Pre-Budget Report: Darling must cut UK’s huge welfare bill”

" ●  The IEA’s climate change debate, featuring Nigel Lawson and S. Fred Singer, is now online (videos) ●  Mark … Continue reading “Economics on the web (31.12.09)”

Faced with ambitious climate change targets, the government has decided that nuclear power will play a leading role in supplying … Continue reading “Picking winners and nuclear power”

Public spending dominates the economy of the North of England. In the North-East region, for example, it accounts for close … Continue reading “North to pay heavy price for dependence on public spending”

●  Philip Booth argues in the FT that ethics alone will not stop financial crises   ●  Patrick Basham and … Continue reading “Economics on the web (14.11.09)”

There is talk of recovery, but little reason for optimism. Government action may have cushioned the initial impact of the … Continue reading “US will pay a high price for Obama’s spending spree”

●  Philip Booth advocates a more rational and limited framework of financial regulation   ●  Robert Carling examines the frightening … Continue reading “Economics on the web (17.10.09)”

Two recent IEA authors have been awarded the 2009 Nobel Prize in Economic Sciences. Elinor Ostrom and Oliver E. Williamson … Continue reading “IEA authors win Nobel Prize for Economics”

Earlier this month, President Sarkozy announced plans to introduce a carbon tax in France. The UK could follow suit. A … Continue reading “Should the UK introduce a carbon tax?”

●  Philip Booth argues we need less financial regulation if we want a less oligopolistic financial sector ●  Patrick Basham examines … Continue reading “Economics on the web (15.9.09)”

From China to California, the current slump has been marked by enthusiasm for high-speed rail. Projects typically form part of … Continue reading “Obama’s folly: high-speed rail in America”

Fuel duty rose by 2p this week, the third increase in the last ten months. Governments tend to view petrol … Continue reading “Fuel duty: the hidden costs”

●  Gary Becker argues the Cash for Clunkers scheme is a bad idea at the wrong time ●  Ruth Lea looks … Continue reading “Economics on the web (29.8.09)”

●  Tim Congdon analyses Britain’s public debt crisis ●  George Selgin suggests the US economy would be better off without the Federal … Continue reading “Economics on the web (7.8.09)”

The government recently announced a series of measures designed to make Britain a low-carbon economy, including a large expansion of … Continue reading “The dark side of climate change policy”

The development economist Peter Bauer famously observed that “Aid is the process by which poor people in rich countries subsidise … Continue reading “Cameron should focus on free trade rather than foreign aid”

●  John Blundell on the need to guard think tanks against undue influence ●  Roger Bate explains why Britain is sailing … Continue reading “Economics on the web (14.07.09)”

●  John Triggs celebrates the 150th anniversary of Samuel Smiles’ Self-Help ●  Eustace Davie reviews They Meant Well: Government Project … Continue reading “Economics on the web (27.06.09)”

The last decade has been marked by a combination of low savings rates and high debt levels in both the … Continue reading “Time preference, economic crisis and social decline”

Britain now faces its worst ever peacetime fiscal crisis, yet our politicians seem incapable of grasping the seriousness of the situation. Indeed, … Continue reading “UK debt crisis: politicians must wake up and smell the coffee”

●  Philip Booth argues there is no real concept of a market in the British education system ●  Gary Becker … Continue reading “Economics on the web (16.06.09)”

The RMT has once again brought London to a standstill with a 48-hour strike. This is a good example of … Continue reading “How Boris can beat the RMT”

● Kevin Dowd on moral hazard and the financial crisis (pdf) ● David Friedman sets out the problems of cap … Continue reading “Economics on the web (06.06.09)”

For several decades the British economy has been hampered by the poor quality of its infrastructure. Whether in transport, education … Continue reading “Why PPPs may offer poor value for money”

●  Philip Booth explains how regulation contributed to the financial crisis ●  Theodore Bromund reviews Verdict on the Crash ●  … Continue reading “Economics on the web (18.05.09)”

The projections in last month’s Budget were terrifying. They suggest that net government borrowing is likely to reach unprecedented levels … Continue reading “What should Cameron cut?”

●  John Blundell writes about Margaret Thatcher’s revolution for The Washington Times ●  Philip Booth argues that the UK’s finances … Continue reading “Economics on the web (04.05.09)”

●  Don Boudreaux explains what “Earth Day” means to him ●  Keith Boyfield explores the issue of bank governance ●  … Continue reading “Economics on the web (25.04.09)”

The publication of a new edition of A Tiger by the Tail: The Keynesian Legacy of Inflation means that four … Continue reading “Hayek online”

●  Gary Becker has an antidote to federal activism ●  Donald J. Boudreaux argues that stimulus plans destroy wealth ●  … Continue reading “Economics on the web (09.04.09)”

Gordon Brown may be advocating a further fiscal stimulus as a means to promote economic recovery at today’s G20 meeting, … Continue reading “G20: cutting public spending should be the main priority”

●  Philip Booth lectures on “Catholicism and Capitalism” at Westminster Cathedral Hall (video) ●  Gary Becker and Kevin Murphy argue … Continue reading “Economics on the web (25.03.09)”

●  Don Boudreaux sets out the unsung successes of the market ●  Ruth Lea warns that very low interest rates … Continue reading “Economics on the web (11.03.09)”

Benefit rates are set to rise substantially next month. State pensions will rise by 5%, while means-tested payments, such as … Continue reading “Are large benefit increases wise in a recession?”

●  Peter J. Boettke describes the dangers of mixed ownership ●  Hernando de Soto explains the link between ownership and … Continue reading “Economics on the web (26.2.09)”

The part-nationalisation of Britain’s banks represents a further extension of state power and the erosion of private property rights. There … Continue reading “The slow death of private property”

From a monetarist perspective, a strong case can be made in support of the Bank of England’s decision to engage … Continue reading “Questions over quantitative easing”

●  Philip Booth discusses the growing debt burden in the Yorkshire Post ●  Eamonn Butler explains why political interference is … Continue reading “Economics on the web (12.2.09)”

Recent unrest in Latvia and Bulgaria has emphasised the economic difficulties faced by the formerly communist countries in central and … Continue reading “Testing times for “New Europe””

●  Philip Booth discusses Barack Obama on American Public Radio   ●  Peter Boettke explains why politicians are making the … Continue reading “Economics on the web (29.01.09)”

The Conservative Party has proposed an alternative to the £9 billion expansion of Heathrow. A high-speed rail line would be … Continue reading “Heathrow expansion vs high-speed rail”

●  John Blundell advocates the privatisation of Britain’s forests – and explains why Adam Smith must be rolling in his grave. … Continue reading “Economics on the web (13.1.08)”

State-dominated healthcare systems are failing the poor and chronically sick. And Britain’s National Health Service (NHS) is one of the worst … Continue reading “Government health services are failing patients”

Will a green ‘New Deal’ help get Britain out of recession? The Liberal Democrats, for example, have proposed the reopening … Continue reading “Green ‘New Deal’ will sink the UK further into the red”

The Madoff scandal is yet more bad news for the financial sector. Several major banks may have lost hundreds of … Continue reading “Madoff and the regulation of financial markets”

Following the bailout of several banks, the government is now considering measures to ‘save’ the British car industry. Such a … Continue reading “Slam the brakes on bailouts”

●  Peter J. Boettke worries that governments are repeating the policy mistakes of the Great Depression. ●  Philip Booth explains … Continue reading “Economics on the web (28.11.08)”

One of the most noteworthy elements of the 2008 Pre-Budget Report was the planned increase in income tax rates to 45% for … Continue reading “The Pre-Budget Report: will Atlas shrug?”

Yesterday it was announced that the Greater London Authority (GLA) is to create 50,000 ‘affordable’ homes. But do such schemes … Continue reading “Can we afford ‘affordable’ housing?”

The last century has seen a steady expansion of the ‘nanny state’, a process that has arguably accelerated in the … Continue reading “The case for lifting prohibitions”

According to official figures, almost two million people are now unemployed in the UK. That number is rising rapidly as … Continue reading “Welfare reform needed to prevent long-term dependency”

Alistair Darling’s proposed spending spree on bringing forward major capital projects suggests the government is prepared to sacrifice the economy’s … Continue reading “A Keynesian spending spree won’t lead the economy out of recession”

Several bloggers, including Guido Fawkes, have rightly emphasised the relevance of Ludwig von Mises’ work to the current financial crisis. The … Continue reading “Monetary policy a cause of depressions”

The British government unwisely entered the current slowdown with a sizeable budget deficit. Recent bank bailouts are likely to push … Continue reading “The government should ditch Crossrail to help balance the books”

Environmental scares have a long history. At the end of the 18th century, Thomas Malthus predicted that rapid population growth … Continue reading “The hidden cost of environmental scares”

The imposition of a windfall tax on energy companies is supported by a majority of the public and many politicians. … Continue reading “The economics of windfall taxes”