I am writing these words as my first week as the IEA’s executive director draws to a close.
Being something of a think tank veteran, I have been close to the IEA – both professionally and intellectually – for a long time. And I am pretty well acquainted with the IEA’s history, thanks to books like Waging the War of Ideas, Towards a Liberal Utopia?, and Richard Cockett’s Thinking the Unthinkable. Nonetheless, as I have been brought up to speed on all the IEA’s activities, I have been genuinely taken aback by their breadth and quality.
From research and events – the bread and butter of the think tank world – to our extraordinary international outreach and educational programmes, and our growing multimedia output, my new colleagues are doing outstanding work. At some point, I will start to feel awkward boasting about the IEA. But for now – since I can take absolutely no credit for it myself – let me just say that this is an amazing place, and I am honoured to have the chance to lead it. Thank you to everyone who makes what we do possible!
It may only be the first week of December, but the festive season is in full swing in Westminster. I was delighted to see so many of you at our gatherings this week. On Monday we welcomed back alumni of our internship programme to celebrate the ‘graduation’ of the latest class. And on Thursday, Works in Progress editor Sam Bowman spoke to a tightly packed ground floor at Lord North Street, during our official Christmas Party.
I was particularly struck by the comparison Sam drew between the IEA and Berkshire Hathaway – the legendary conglomerate led by Warren Buffet and the late Charlie Munger. The link between their value investing and our work in political economy might not be immediately apparent. But as Sam put it, if you have the right principles and stick to them, if you take a long term view and embrace the power of compounding – whether it’s financial growth or the multiplication of ideas and talent – the eventual returns can be spectacular. Here’s to that!
