New IEA research this week highlights the staggering contribution of government regulation to the rising cost of energy, housing, and childcare
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I first heard about the IEA in the spring of 2006, at an economics conference in Berlin, where the then Director General, John Blundell, was one of the speakers. I did not really know what a "think tank" was, but I liked what I heard, so I decided to apply for an internship there.
What I got was a lot more than an internship: it was a full immersion in the Institute’s work, its mission, and its history over the summer of 2006.
I quickly realised that I had come to the right place.
I loved the intellectual buzz of the Institute, I loved the spirit of open debate and good-faith-disagreement, and I was fascinated by the Institute’s against-all-the-odds history. Most importantly, though, I realised that the IEA worldview, ethos and style perfectly matched my own.
Conventional academic writing, with its faux-neutrality and performative equivocation, was not really my cup of tea. When I have a strong opinion on something, I want to express it forcefully rather than waver and beat around the bush. But neither did I enjoy the kind of campaign-style, advocacy-style writing, where you start with a conclusion and then reason your way backwards, telling your audience – and yourself – what they want to hear.
The IEA was that rare beast that combined the best of both worlds. It was firmly and unashamedly rooted in the tradition of classical liberalism, but it still approached issues with scholarly rigour, openness, and intellectual curiosity. This includes honesty about those irritating occasions when the evidence does not show what we classical liberals would want it to show.
Two years later, in the autumn of 2008, I found my way back to the IEA, initially as a part-time researcher and bursary student, and eventually, on a full-time basis.
After covering a range of subjects for the IEA as a writer and public speaker, becoming its Editorial Director was the logical next step: the equivalent of a singer-songwriter becoming a music producer.
The IEA has changed a lot since I first knocked on its front door, but many of the things I found so impressive about the Institute back then are still very much alive. It is now part of my job to help ensure it stays that way.
I could ask for a more liberalism-friendly climate of opinion, and I could ask for a more encouraging policy environment – but I could not ask for a better team or a better place to be.
Kristian Niemietz
IEA Editorial Director
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** How red tape is fuelling the cost of living crisis ([link removed])
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Since 2000, sectors with heavy state intervention have experienced large price rises while competitive markets have experienced price falls.
* Average consumer prices increased by 80% between 2000 and 2023.
* Heavily regulated and subsidised sectors like electricity (+425%), housing (+254%) and childcare (+193%) have seen the most rapid price increases.
* Products in more competitive markets, like computers (-93%), TVs (-80%), and clothing (-29%), have become significantly cheaper.
* Cutting red tape could lower business costs, increase competitive pressures, and reduce consumer prices.
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** Did red tape worsen Britain’s inflation problem? ([link removed])
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Paper author Matthew Lesh, The Spectator ([link removed])
An unfair burden… The costs of regulation are born disproportionately by low income households.
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** The red tape regulation driving the cost-of-living crisis ([link removed])
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Communications Officer Harrison Griffiths, Reaction ([link removed])
Ratchetting up… Accumulating regulations in childcare and energy have pushed up prices.
Bigger government, higher prices ([link removed])
Matthew Lesh, talkTV ([link removed])
Stop the tape… The solution to sky-high prices will not come from adopting the same approach that caused them.
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** The REAL Reason for the Cost of Living Crisis ([link removed])
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IEA YouTube ([link removed])
Learn more about the key findings of Matthew’s new paper.
IEA Latest.
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Are We Ready for Disaster? In Conversation with Dr Stephen Davies ([link removed])
Executive Director Tom Clougherty interviews IEA Senior Education Fellow Dr Stephen Davies, IEA YouTube ([link removed])
Hope for the best, prepare for the worst… In his new book Apocalypse Next: The Economics of Global Catastrophic Risks ([link removed]) , Stephen warns that Covid-19 was a warning shot. We need to be better prepared for the next global catastrophe.
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Let’s be honest, the UK will never grow all its own food – nor should it ([link removed])
Matthew Lesh, City AM ([link removed])
Autarky in the UK… Pandering to special interests and continuing farm subsidies only increases the risk of food insecurity.
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Privatisation vs Nationalisation: the case of healthcare ([link removed])
Kristian Niemietz, IEA Blog ([link removed])
No solutions, only trade-offs… Market-based healthcare systems are not the Wild West imagined by socialist critics, nor are they the panacea that free marketers may expect.
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Housing Crisis Unpacked: Will Gove's Housing Reforms make a Difference? | IEA Podcast ([link removed])
Matthew Lesh interviews Kristian Niemietz, IEA YouTube ([link removed])
Worrying trends… 3/4 Millennials and Zoomers believe that the housing crisis is caused by capitalism. That makes tackling the real issue — government barriers to house building — much more difficult.
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With Navalny’s death, Putin’s Russia enters its darkest phase ([link removed])
Managing Editor Daniel Freeman, CapX ([link removed]) & IEA Blog ([link removed])
A martyr for liberty… Alexei Navalny’s death is yet another grim reminder of Russia’s return to tyranny, but the ideals he fought for live on.
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** Dumb, glum and zero-sum ([link removed])
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Kristian Niemietz, The Critic ([link removed])
Asking the wrong questions… Most controversies over the distribution of the housing stock would be rendered moot by simply allowing more homes to be built.
IEA Insider.
** Meritocracy, Personal Responsibility, and Encouraging Investment: Lessons from Singapore’s Economic Growth Miracle ([link removed])
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After independence from Malaysia in 1965, Singapore was one of the world’s poorest nations. Today, it is one of the wealthiest, having become a global economic powerhouse. Low taxes and free markets have played a central role in making this happen.
The final publication from the Realities of Socialism project charts Singapore’s rise from poverty to prosperity and analyses the policies underpinning it.
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About Realities of Socialism ([link removed])
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