• TALKING POINT – GLOBAL TRADE & ECONOMIC RECOVERY
  • TO BEEB or not TO BEEB?
  • LIVE WITH LITTLEWOOD IS BACK!
  • CAN BOJO RESTORE OUR MOJO?
  • GOT THE WRITE STUFF?
  • YOU’RE INVITED



TALKING POINT - Global trade:  The key to recovery?

As we enter week 16 of lockdown, we’re seeing a shift in the government’s response as restrictions are eased and a more decentralised and localised approach is taken.
 
As classical liberals, we retain a healthy scepticism of government, especially ‘one size fits all’ policies - preferring instead a Hayekian approach of competitive experimentation, discovery, and adaptation.
 
This inevitably means mistakes will be made. But this is an essential part of the learning process and hopefully enables us to be given sufficient information to assess the risks. So we await the outcome of the government’s new approach with curiosity and hope.
 
The government is, of course, desperate to kick start the economy.  Much has been made this week of domestic initiatives such as taxpayer-funded infrastructure projects (not always an IEA favourite) and the relaxation of some planning restrictions (much more welcome).
 
But global trade will surely play a crucial role in any recovery.  This coming week, we’ll be releasing ‘Freight Expectations’, the latest in our series of Covid-19 briefings. 
 
It examines the impact of the lockdowns on global trade volumes and the expected recovery, given inhibiting factors that existed before lockdown, including US and EU protectionism, tensions with China, new technology such as 3D printing and consumer preferences for local food. Look out for more in next week’s newsletter.



THE PERILS of LIVE TV...1 Earlier this week, we ran a live webinar with Danny Kruger MP, Boris Johnson’s former political secretary.  Nothing too unusual, we run webinars all the time.  Except parliamentary business got in the way... 
 
The launch time of our programme clashed with four parliamentary votes – so this called for a good deal of filibustering from me as Danny entered the chamber to cast his votes. And Danny valiantly kept his phone on to keep our live conversation going as he tackled the signal-blocking stairways and corridors of Westminster.
 
I’m told it made curiously compelling viewing – and it certainly demonstrated the importance of continuous adaptation.  Hopefully, Hayek would have been proud. You can watch it here.

THE PERILS of LIVE TV...2 Seems others are trying to get in on the act too.   Recently, I interviewed our Head of Political Economy Kristian Niemietz about economist Walter Eucken and the part he played in the German economic miracle.  
 
But someone else was vying for Kristian’s attention – his cat Tigs. But the unflappable Kristian (perhaps fulfilling his Bond villain fantasies?) carried on regardless as his mischievous moggie made an unscheduled appearance. ..



If you want to know more about Eucken you can watch the interview here (and Tigs puts in an appearance at the 18 minute mark...)

Syed Kamall
IEA Academic and Research Director

TO BEEB …or NOT TO BEEB

If you’re a regular reader of our newsletter, you’ll know we’ve been producing a daily stream of videos during the lockdown. Our YouTube channel has attracted over 195,000 views since lockdown - and that’s attracted attention elsewhere.



This week, the online magazine spiked featured an article on the future of the BBC and the changing nature of broadcasting. 

And it cites the IEA as an example of non-traditional broadcasters  “moving into broadcaster territory online”.  

You can read the article here.



Perhaps ironically, one of our most watched videos during lockdown has been our short film addressing Bias and the BBC.  

You can watch it here.



The film is based on our book IN FOCUS – the case for privatising the BBC.

In addition to addressing the question of bias, it also examines the changes in technology and growth in competition that necessitate reform of the corporation.

You can download it – for free – here.



Earlier this year, we also published NEW VISION – Liberating the BBC from the licence fee.

Written by the IEA’s Senior Academic Fellow Philip Booth, this paper examines the changing nature of the broadcast market - and suggests public service broadcasting should no longer be largely delivered by one institution.

It says the TV licence fee is an outmoded way of funding the BBC and the BBC could now be financed by subscription – and owned by its subscribers. 

You can read this report – and download it for free – here.

IT'S BACK...

This week saw the return of LIVE WITH LITTLEWOOD to our YouTube channel.



IEA Director General Mark Littlewood was joined by The Spectator’s Kate Andrews, Conservative commentator Alex Deane, Spiked’s Brendan O'Neill, political journalist Benedict Spence, The Critic’s Oliver Wiseman and Guido Fawkes’ Tom Harwood.  Also joining the debate were John Tillman, from the Illinois Policy Institute, the IEA’s Head of Education Stephen Davies and IEA Head of Lifestyle Economics Christopher Snowdon.

Issues covered during the free-rolling discussion included the Black Lives Matter protests, the NHS – and the disturbing growth of virtue signalling in public discourse, with panellists giving their take on the symbolism-over-substance debate.   

Boris Johnson’s ‘FDR’ measures came under the microscope, whilst the panel also assessed the prospects of Donald Trump retaining power in November’s presidential election. Catch up with the programme here. 

Or, to avoid missing any of our YouTube programmes, you can subscribe to our channel here.

CAN BOJO RESTORE OUR MOJO?

Can Boris Johnson’s ‘Rooseveltian’ New Deal lead to a bounce back in the UK economy? IEA Senior Academic Fellow Philip Booth fears not. 



In an article for CapX this week, Philip argues that Roosevelt’s New Deal wasn’t the great savior of the US economy – in fact Britain had a relatively good depression compared to the US, precisely because it didn’t follow Roosevelt’s model. 
 
Instead, says Philip, we should look to West Germany, not America, to revive our economy. Read his article here.



The Prime Minister’s bounce-back plan came under scrutiny in our latest Definite Article programme, which asked if his “decade of investment” on schools, hospitals, prisons and transport would work and whether massive infrastructure schemes were the best way forward. 
 
Syed Kamall was joined by Matt Kilcoyne, of the Adam Smith Institute, Duncan Simpson of the Taxpayers’ Alliance,  John Ashmore of CapX and Philip Booth to discuss the best ways of KICKSTARTING THE UK ECONOMY.  You can watch it here.



Getting the UK economy back in stride is, of course, uppermost in many people’s minds. Mark Littlewood and IEA Economics Fellow Julian Jessop discussed Britain’s economic trajectory with Bim Afolami MP, who recently produced the report Unlocking Britain: Recovery and renewal after COVID-19. Catch up with their conversation here. 

YOUR ONE-STOP SHOP

"We're watching at least one IEA event each day and it's getting hard to choose from such a smorgasbord of delicacies from so many talented chefs"

Monday to Saturday, IEA Daily brings you the key stories of the day – plus the latest on all our online activities and recommendations on must-reads, must-listens and more.

"The IEA really is excelling itself at the moment. I haven't encountered a single other company or institution that has stepped up so comprehensively and ramped up its public footprint to such an extent."

If you haven't yet subscribed, click here.

GOT THE WRITE STUFF?




Calling students and schools!  The deadline for this year’s Dorian Fisher Memorial Prize is fast approaching.
 
The essay competition, open to A- Level and IB students, carries a first prize of £500, plus £250 each for three runners up. There is also a prize of £500 for the school with the highest number of entrants.
 
Covid permitting, the top 20 entries will all be invited to a special one-day event at the IEA in the Autumn term. Entries should be submitted by email to [email protected] and should include the name of your school. The final deadline for this year’s competition is Friday 24th July.  

The prize for this competition is named after Dorian Fisher, the wife of Sir Antony Fisher, founder of the IEA, who was a long-time supporter of the Institute and its work. 

YOU'RE INVITED

Tuesday 7th July (6-7pm BST) IEA Book Club Webinar with Tim Harford: THE NEXT FIFTY THINGS THAT MADE THE MODERN ECONOMY

The IEA Book Club will be hosting acclaimed economist, Tim Harford, to discuss his latest book “The Next Fifty Things that Made the Modern Economy”.



In “Fifty Things that Made the Modern Economy” , Tim introduced a selection of fifty radical inventions that changed the world. In this new book, Tim once again brings us an array of remarkable, memorable, curious and often unexpected ‘things’ – inventions that teach us lessons by turns intimate and sweeping about the complex world economy we live in today.

If you would like to join us for this webinar, please register here.

Wednesday 8th July (1-2pm BST) Webinar: THE ECONOMY AFTER COVID-19

Policy actions to counter the disastrous effects of the pandemic will have long-lasting financial and economic consequences – and it’s likely the UK will be hit hard, partly because of its services-based economy.
 
In this webinar, Professor Trevor Williams, the former chief economist of Lloyds Bank, will assess the likely economic, social and political impact on the UK.
 
Professor Williams is visiting Professor at the University of Derby, rotating chair of the IEA’s Shadow Monetary Policy Committee, author of Trading Economics (with Victoria Turton), and writes a monthly column in Moneyfacts.
 
To register for this event, click here.

Thursday 9th July (5-6pm BST) Webinar: THE RISE OF POWER POLITICS - A PERSPECTIVE FROM ACROSS EUROPE

Leading think tank leaders from across Europe will join us to paint a picture of their political landscape and address how believers of small & efficient governments and supporters of liberal democracies can put the genie back in the bottle, once the public health emergency is over.

Speakers include Cecile Philippe, Director, Institut economique Molinari, Marek Tatala, Vice President, Civil Development Forum and Nataliya Melnyk, Director of the Bendukidze Free Market Center and chair, Adam Bartha of EPICENTER.

If you would like to attend, please register here.

WITH A LITTLE HELP FROM OUR FRIENDS...

These are difficult times for every individual and organisation, including the IEA. Understandably, your priorities will be to look after your loved ones, your family, your work or your business. 

But if you do have a little extra cash available to help the IEA during these uncertain times, your contribution – no matter how small – would be deeply appreciated. 

As an educational charity, the work we do work is entirely funded by donations. If you are able to help please click here or contact [email protected]. Thank you.

And why not get Amazon to donate too? All you have to do is to start shopping on https://smile.amazon.co.uk/ and pick the IEA as your chosen charity. The IEA will then receive 0.5% of your spending on most items. Everything else remains the same (and at no additional cost to you).
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