Saturday, September 17, 2016

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Blog – Institute of Economic Affairs
Institute of Economic Affairs
Europe’s demographic timebomb
September 16, 2016 12:56 AM
This article is based on a presentation Prof Booth gave at the Autumn University of the Alliance of European Conservatives and Reformists (AECF).   Never before has a developed country with a high level of government spending and an enormous pay-as-you-go social security system faced the kind of demographic decline that we will see over … Continue reading "Europe’s demographic timebomb"
Two fallacies around Hinkley Point
September 15, 2016 3:00 AM
It looks as if Hinkley Point will now be given the green light. Astonishingly, the government has found a way of producing electricity that is even more expensive than offshore wind, and it is backing it. It just goes to show that the new industrial strategy is not a great deal different from the old … Continue reading "Two fallacies around Hinkley Point"
Shooting the messenger: Rent controls have always and everywhere ended in failure
September 15, 2016 2:02 AM
Rent controls are back on the political agenda. Their reintroduction is now official Labour Party policy, and the Conservatives will probably follow with a somewhat milder version in due course. It is easy to see why: according to a recent Survation poll, two thirds of the public support rent controls, with most of the remaining … Continue reading "Shooting the messenger: Rent controls have always and everywhere ended in failure"
Oxfam’s inequality fabrications
September 14, 2016 12:42 AM
Every once in a while, Oxfam likes to talk about inequality in the UK, though God knows what that has to do with famine relief. They invariably twist the facts and they’ve been doing it again today. Oxfam have realised that journalists are not familiar with the inequality data and don’t know the difference between … Continue reading "Oxfam’s inequality fabrications"
Who could be opposed to meritocracy? Me, that’s who
September 13, 2016 4:45 AM
Meritocracy. It’s a term beloved by Conservatives, who say they want a “fair” society where people’s outcomes are determined purely by a combination of hard work and talent. This was Theresa May’s rallying cry last week as she turned Tory education policy on its head by outlining the case for a new generation of grammar … Continue reading "Who could be opposed to meritocracy? Me, that’s who"
We didn’t humanise markets, markets humanised us
September 12, 2016 4:37 AM
Over Labour Day weekend, I saw many friends arguing that labour unions and government intervention “humanised capitalism” by giving us the 8-hour workday, the 40-hour workweek, ending child labour, and so forth. Unfortunately, these folks have their history backward. We didn’t humanise capitalism, it humanised us. The wealth produced by capitalism allowed us to indulge … Continue reading "We didn’t humanise markets, markets humanised us"
It’s pure hubris for politicians to think they can “rebalance” the economy
September 9, 2016 4:29 AM
Theresa May is reviving the idea of interventionist industrial strategy, and wants to “rebalance” the economy. Many people are jumping on the bandwagon. They should jump right off again. Even the more mature of today’s politicians were still in the school playground when these ideas last made waves. In the 1950s and 1960s, UK governments … Continue reading "It’s pure hubris for politicians to think they can “rebalance” the economy"
Does Britain need a ‘proper industrial strategy’?
September 8, 2016 4:19 AM
Jeremy Warner yesterday echoed the Prime Minister’s goal of a “proper industrial strategy” for Britain. He rightly cautions against the wrong-headed interventionism that did the country so much harm between 1945 and the late 1970s, but he nonetheless advocates “a middle way,” a “genuine partnership” between private and public sectors in a range of areas … Continue reading "Does Britain need a ‘proper industrial strategy’?"
Robotics and Artificial Intelligence – Game Changer or Game Ender?
September 7, 2016 5:14 AM
Enough about Brexit. Let’s talk about something else for a moment, shall we? Robotics and Artificial Intelligence (AI) may not necessarily result in a Prime Minister resigning, the pound to plummet, or some serious backstabbing, but this billion dollar industry will have a sizeable impact on all aspects of our lives now and in the … Continue reading "Robotics and Artificial Intelligence – Game Changer or Game Ender?"
Apple and Ireland: nothing surprising in the EU imposing taxes
September 6, 2016 12:14 AM
Clearly no-one commenting on the EU Commission’s levying of €13 billion of taxes on Apple has read my 2005 IEA monograph, “The Benefits of Tax Competition”. Whether opposed to or in favour of the Commission’s action, people on either side of the debate seem surprised that they have done it. “Tax is not an EU … Continue reading "Apple and Ireland: nothing surprising in the EU imposing taxes"

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