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* TALKING POINT, WITH CHRISTOPHER SNOWDON
* INTRODUCING DR JAMES FORDER
* iN THE MEDIA
* NEW PODCAST SCHEDULE
* IN CASE YOU MISSED IT
* REMEMBERING SIR RONALD HALSTEAD
* YOU'RE INVITED

With over five million people waiting for routine hospital treatment – the highest on record – will the government make some meaningful reforms to the NHS? Discussing this on Live with Littlewood ([link removed]) on Wednesday, I predicted that the health service would continue to be an inefficient money pit for many years to come.

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Defenders of the NHS can no longer seriously claim that it is under-funded. The UK has been spending more on healthcare than the OECD and EU averages for several years now. In 2019, healthcare spending exceeded 10 per cent of GDP for the first time and it has undoubtedly risen since. And yet the NHS has fewer doctors per 1,000 people than nearly every country in the OECD, including significantly poorer countries such as Greece and Portugal. We have half as many hospital beds per 1,000 people than the OECD average.

It is no wonder that the NHS is so easily overwhelmed – not only with Covid-19 but with seasonal flu every winter – when the whole country has fewer ICU beds than Delhi. It doesn’t require wholesale privatisation to get the basics right. With so few doctors and so few hospital beds, you have to wonder what the NHS’s ever-growing budget is spent on.

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This week saw the return of the IEA’s weekly podcast. In the first episode ([link removed]) , I discussed the plight of the British pub, an institution that has been in decline for decades. I have often wondered whether the covert aim of all government policy is to destroy the pub trade. My conspiracy theory has been given weight during the pandemic as politicians have played with the industry as a cat toys with a mouse.

Pubs have always been the first to close and the last to reopen during lockdowns. Customers have had to put up with outdoor drinking, table service, face masks to go to the toilet and, in Scotland and Wales, no alcohol.

In the podcast, I talk about the structural problems faced by the pub. Some of these could be alleviated by better regulation, but the fundamental issue is a lack of demand. So if you value your local, use it or lose it. Cheers!

Christopher Snowdon
Head of Lifestyle Economics, Institute of Economic Affairs
INTRODUCING DR JAMES FORDER

The IEA is delighted to announced the appointment of Dr James Forder as our new Academic and Research Director.

James is Andrew Graham Fellow and Tutor in Political Economy at Balliol College. He has taught economics at Oxford since 1993, and will continue in his post alongside his new role at the IEA.

James's principal research interests have been in central bank independence and the history of macroeconomic ideas, especially those following from the work of A. W. H. Phillips and Milton Friedman.

James succeeds former Member of the European Parliament Professor Syed Kamall, who has been recently elevated to the House of Lords.

Commenting on his appointment, Dr James Forder said:

"The power of the price mechanism, and the scope for public policy to utilise it, are underrated and often misunderstood. I am delighted to have the opportunity to make a real contribution to advancing effective public policy with the IEA."

IEA Director General Mark Littlewood, said:

“I am thrilled that James is joining the Institute as our new Academic and Research Director. He brings a wealth of expertise, talent and experience and is a superb addition to the team."

You can read the full announcement on the IEA website here ([link removed]) , including further quotes from Mark and Chairman of the IEA Board of Trustees Neil Record.
iN THE MEDIA

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A new battleground... In his fortnightly column for The Times ([link removed]) , IEA Director General Mark Littlewood argued that the days of class warfare have been replaced by a generation war, with young people being hit the hardest by lockdown.

Mark said: “About a tenth of workers under 25 have lost their jobs during the pandemic and measurably more than half have seen a fall in earnings. For those yet to enter the labour market, education at university or school has been enormously disrupted — and large chunks effectively cancelled”.

With rising national debt, soaring house prices, wage stagnation and an ageing population, young people are likely to be carrying an economic burden for generations to come. Mark appeared on Times Radio to discuss the column – listen to a clip here ([link removed]) .

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Causing a stir... It was reported this week that Oxfam had sent a survey to its staff in which "whiteness" was defined as "the overarching preservation of power and domination for the benefit of white people".

IEA Head of Cultural Affairs Marc Glendening made his debut on GB News to discuss the controversy. Marc argued that the survey is "self-evidently racist," and the sweeping claim that all white individuals by virtue of their skin pigmentation and genetic origin have 'power' and dominate those who are non-white, is "reminiscent of the fascistic identity politics of the 1930s".

You can watch clips of his interview here ([link removed]) and here ([link removed]) . Marc was also quoted in the Daily Mail, which you can read here ([link removed]) .

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BBC papers... On Tuesday, IEA Director of Communications Annabel Denham appeared on BBC News The Papers ([link removed]) alongside The Independent's Chief Business Commentator James Moore to preview the next day's headlines.

They discussed England's victory against Germany in the Euros, the government's "levelling up" agenda, and whether the policy of sending "bubbles" of schoolchildren home to self-isolate when just one pupil tests positive for Covid-19 should be scrapped.

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Mind the gap... In a joint column for The Telegraph ([link removed]) , IEA Editorial and Research Fellow Professor Len Shackleton and Annabel Denham explained why mandatory ethnic pay gap reporting would be a bad move, based on “crude and misleading data".

They argued that the government should follow the recommendation from the Commission on Race and Ethnic Disparities, which advised against requiring businesses to publish these figures, rather than folding to those noisily pushing for compulsion. You can read the full article here ([link removed]) .

Len also appeared on Times Radio to discuss the winding down of the furlough scheme, which he argued was preventing people from finding new employment.

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And in her column for The Spectator ([link removed]) , Annabel pointed out that, while economics is now secondary to cultural concerns for many voters, issues such as ‘structural racism’ and environmentalism still have an economic underpinning. You can read the full article here ([link removed]) .

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Live with Littlewood... The justification for sending healthy schoolchildren home to self-isolate if one classmate tests positive came under the microscope during this week's episode of Live with Littlewood.

Host Mark Littlewood was joined by John Ashmore, Editor of CapX; political commentator Alex Deane; Robert Halfon, Member of Parliament for Harlow and Chair of the Education Committee; writer and comedian Timandra Harkness; and IEA Head of Lifestyle Economics Christopher Snowdon.

The panel discussed whether the gap between generations – both economically and culturally – is growing. They debated the likelihood of getting our freedoms back later this month, following Health Secretary Sajid Javid's insistence that restrictions "must come to an end on 19 July," and explored prospects for NHS reform.

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You can watch here ([link removed]) and catch up on previous episodes, including our Brexit specia ([link removed]) l ([link removed]) with Wycombe MP Steve Baker; former Vote Leave CEO Matthew Elliott; Mississippi Center for Public Policy CEO Douglas Carswell; IEA Head of Political Economy Dr Kristian Niemietz; and IEA Fellow Dr Radomir Tylecote here ([link removed]) .

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Quarantine loophole... This week it was reported that some foreign business leaders will be exempt from quarantine rules upon arrival in the UK.

Commenting on the announcement, IEA Director General Mark Littlewood said that the move could be a "recipe for bureaucratic cronyism".

Mark questioned who in Whitehall is going to be able to determine accurately whether a business trip is likely to create or protect 500 UK-based jobs, and that these loopholes and exemptions are further evidence of "the need to swiftly move to ending all lockdown restrictions".

You can read his full comment here ([link removed]) , which was quoted in The Sun ([link removed]) , Mail Online ([link removed]) and Sky News ([link removed]) . IEA Head of Media Emily Carver also appeared on GB News to discuss the plans.

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The failed idea that never dies... IEA Head of Political Economy Dr Kristian Niemietz was mentioned in the Frankfurter Allgemeine Zeitun ([link removed]) g ([link removed]) , one of the most popular newspapers in Germany, this week.

According to the article: "In his recommendable book 'Socialism,' the German-British economist Kristian Niemietz, who works at the London-based Institute of Economic Affairs, gathers an almost overwhelming plethora of citations from intellectuals who sympathised with socialist regimes, and then looked for excuses when their failure became manifest. [...] The most popular excuse: that was not real socialism."

You can download a copy of the book Socialism: the failed idea that never dies ([link removed]) from the IEA website or purchase a copy here ([link removed]) .
NEW PODCAST SCHEDULE

The new IEA podcast schedule kicked off this week. From now on, we will be uploading an episode every Monday, Wednesday and Friday on Podbean ([link removed]) , Spotify ([link removed]) and Apple ([link removed]) .

You can now listen to last week's Live with Littlewood here ([link removed]) , or to our recent discussion on COP9 and its impact on vapers here ([link removed]) .

And on Friday, we posted a new discussion between our Communications and Marketing Assistant Kieran Neild-Ali and our Head of Lifestyle Economics Christopher Snowdon on the collapse of the British pub trade.

Kieran and Christopher looked at the key events in the demise of the pubs, including the 2007 smoking ban, the beer duty escalator, shifting cultural attitudes, and Covid lockdown restrictions. Christopher argued that the time is right to offer pubs a lifeline in the form of lower taxes and less regulation to help pubs bounce back after one of the toughest years in British history yet.

Catch up on the episode on Podbean here ([link removed]) , or on the IEA YouTube channel here ([link removed]) .
IN CASE YOU MISSED IT

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Virtual worlds... You can now watch the second talk from the THINK 2021 conference with Dr Matt McCaffery.

Matt is Assistant Professor of Entrepreneurship at the Alliance Manchester Business School, University of Manchester. His talk explores the economics of video games and virtual worlds. You can watch here ([link removed]) .

Markets & Morality...
Many families spend over a third of their income on childcare. Parents, usually mothers, can be forced to choose between their careers and off-ramping from the workplace altogether due to the exorbitant costs.

This week's Markets & Morality, hosted by IEA Head of Public Affairs Emma Revell, asks what we can do to fix this unsustainable situation. Do we need a more competitive private system? Or should government step in and nationalise the sector?

IEA Director of Communications Annabel Denham goes head to head with journalist, commentator, and author Ella Whelan. You can watch here ([link removed]) .

REMEMBERING SIR RONALD HALSTEAD

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We were saddened to hear that former IEA trustee Sir Ronald Halstead CBE has died at the age of 94.

Sir Ronald was appointed a Commander of the Order of the British Empire for services to the food industry in the Queen’s Birthday Honours in 1976 and then knighted in the Queens’ Birthday Honours in 1985.

In a distinguished career, Sir Ronald became Chairman and Chief Executive of the Beecham Group and Deputy Chairman of British Steel. He also chaired the Industrial Development Advisory Board for the Department of Trade and Industry and was a member of the Monopolies and Mergers Commission.

He was President of the Engineering Industries Association for over 25 years and served as a member of the IEA Board of Trustees from 1980 to 1993.

Former IEA trustee Mike Fisher said: “The modern world lacks the likes of Sir Ronald. He was a pleasure to meet and always showed warmth and interest to all. Plenty of common sense, humour and loads of experience are the hallmarks by which I will remember him.”
IEA PATREON

Thank you to all of you who have already signed up to become an IEA Online Patron. Becoming a Patron grants you VIP access to our latest videos, priority invites to our virtual events, and the opportunity to engage directly with IEA Director General Mark Littlewood and the IEA team. For just a small donation you can get all these benefits and more.

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To visit the page and find out more about the IEA’s Patreon, follow the link here ([link removed]) or watch our trailer here ([link removed]) .
CALLING ALL STUDENTS

*Dorian Fisher Memorial Prize

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The deadline to enter this year's Dorian Fisher Essay Memorial Prize is Friday 30th July. The competition is open to all A-Level and IB students, with the chance of winning a first prize of £500, and £250 each for three runners-up. The top 20 entries will also all be invited to a special one-day event at the IEA in the autumn term.

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 can find out more details on the IEA website here ([link removed]) . If you would like to enter, please send you entry to [email protected] (mailto:[email protected]) , clearly stating your name and school.

*Economics Thought Leaders Symposium (ETLS)

Applications are open to attend this year's Economics Thought Leaders Symposium. ELTS is an annual three-day residential symposium, jointly hosted by The Vinson Centre for the Public Understanding of Economics and Entrepreneurship at the University of Buckingham and the Institute of Economic Affairs. Senior undergraduates and postgraduates are invited to apply and, for those offered a place, it is entirely free to attend – there is no charge for accommodation, food or materials.

The theme for this year’s unique and exciting programme is the Future of Economic Thinking.

There are just 16 places available on this exclusive programme. To apply please send a CV (no more than two pages) and cover letter explaining why you would like to attend (250 words) and 500 words on which economic thinker you would erect a statue for to [email protected] (mailto:[email protected]) . The deadline for applications is 30th July 2021.
YOU'RE INVITED
*In Conversation with Jeremy Browne

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On Monday 5th July, from 6-7pm, the IEA will host Jeremy Browne for the latest in our In Conversation series with senior figures in public life. This webinar will be chaired by IEA Director General Mark Littlewood.

Jeremy Browne is the former Liberal Democrat MP for Taunton Deane. He served as Liberal Democrat Treasury spokesman from 2007 and during the coalition government was part of the Foreign and Commonwealth Office team as Minister of State for South East Asia, Far East and the Pacific, and Minister of State for Crime Prevention at the Home Office. Since leaving Parliament, Jeremy has spent three years as Special Representative for the City of London Corporation in the European Union, leading efforts to boost the City’s presence in Brussels. You can watch live on YouTube here ([link removed]) .
*MA in Political Economy by Research

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The IEA is working with the Vinson Centre for the Public Understanding of Economics and Entrepreneurship at the University of Buckingham on the delivery of an MA in Political Economy by Research.

The programme can be completed by distance learning and is aimed at graduates with a strong interest in the history of economic ideas and the application of economics to questions of public policy.

Online seminars will cover topics on Adam Smith; David Ricardo; John Stuart Mill; Alfred Marshall; the marginalists and neoclassical economics; Karl Marx; Friedrich Hayek and the Austrians; J.M. Keynes; James Buchanan, Gordon Tullock and public choice theory; the Frankfurt School; and behavioural economics.

For further information, please follow the link here ([link removed]) .

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