Welcome to the IEA Weekend Newsletter!

• Spend, spend, spend!
• Interested in interning?
• Hayek 2019
• Anyone else?
• Best of the Blog
• You're Invited!

Spend, spend, spend!

This week the IEA reacted to election pledges, starting with speeches from both Chancellor Sajid Javid and Shadow Chancellor John McDonnell.



Labour’s John McDonnell has pledged to more than double government borrowing from £25 billion a year to a staggering £55 billion, and the Conservative’s Sajid Javid revised the party’s fiscal rules in favour of spending more on the National Health Service, policing, and education.

The IEA’s Academic and Research Director Syed Kamall responded to their spending pledges, arguing that both Labour and the Conservatives have “abandoned fiscal restraint” in favour of increases in public spending, likely to be paid for through extra borrowing. 



Syed argued that in order to make the most of the opportunities that lie ahead, politicians should be focusing on allowing taxpayers to keep more of their wages, instead of “bribing taxpayers” with their own money. 

Read his full comments here. 

Syed’s comments were picked up in City AM, The Daily Telegraph, The Sun, The Independent and the Yorkshire Post.



Meanwhile, Head of Communications Emma Revell appeared on Sky News to discuss the parties’ spending pledges. Our Research Fellow Julian Jessop also took to Sky News to give his perspective on the parties’ fiscal plans later that day.

And our Associate Director Kate Andrews penned her City AM column this week on the pair’s pledges to hike spending. 



Kate argued that while spending uncosted tens of billions would obviously not have the same impact as spending hundreds of billions of future taxpayer money, the new economic thinking in both parties has a similar baseline: spending promises to the public matter more than their safe delivery. 

Read the full article here.



Other general election pledges this week included Labour’s plans to fine firms for failing to report or tackle their gender pay gaps and to give workers the right to choose their own hours from day one on the job. 

Commenting on the announcements, Kate Andrews warned that once again the gender pay gap is being badly conflated with equal pay, adding that small businesses will struggle to handle increasing regulatory burdens. Kate also noted that new mandates around flexible working should be treated “with caution”as it is likely to increase costs for employers. 

Read her comments in full here. 

Kate’s comments were picked up by The Times and City AM.

Interested in interning?

The new year is on the way, and what better way to start the new decade than by joining us here at 2 Lord North Street on one of our acclaimed internship programmes!!

We have a wide range of programmes - from week-long internships for Sixth Formers to longer-term general internships. 

All of our internships will introduce you to free market ideas and expand your knowledge of free markets and free society.

But don’t take our word for it. Here’s just one of the many testimonials we’ve received from former interns:

“Joining the internship scheme at the IEA was a truly rewarding experience and I would recommend it to anyone with an interest in economics and freedom. I learned valuable skills in logistics, events planning and team management, whilst being academically stimulated through discussions, seminars and lectures with other interns and staff.”

Click here to learn how to apply for an internship in the new year, and be sure to pass on the details to anyone you know who might be interested!

Hayek 2019

Time is running out to secure your seat to see acclaimed US author Professor Bryan Caplan deliver our 2019 Hayek Memorial Lecture!

This year’s Hayek Lecture will take place on 3rd December at Church House, Westminster, starting at 6.30pm. 

Professor Caplan’s book The Myth of the Rational Voterwas hailed as ‘the best political book of the year’ by the New York Times. And at the Hayek Lecture he’ll unveil his latest project, POVERTY - Who’s to Blame?

Bryan Caplan is Professor of Economics at George Mason University, Virginia. He’s also author of The Case Against Education and Selfish Reasons to Have More Kids. He’s featured in many publications - from the Wall Street Journal to the Washington Post - and appeared on ABC, BBC, Fox News and more. 

Our thanks to CQS for their generous sponsorship of the lecture. 

If you’d like to attend this must-see event, RSVP [email protected] or call 020 7799 8900

Anyone else?

No other European country has copied the NHS model in half a century. Almost all comparable countries use a mix of funding mechanisms, rather than relying on taxation alone, and most outperform the NHS in health outcomes.

UK cancer survival rates lag behind those of comparable countries, A&E delays are increasing, the number of operations being cancelled is dire, staffing rates are in free-fall, and the tick-box target culture is sending doctors and dentists screaming into the private sector. The UK has one doctor for 356 people, against a developed world average of one for 277.

So what are the alternatives? 

To discuss this on the podcast, the IEA’s Digital Manager Darren Grimes asked the IEA’s Dr Kristian Niemietz, Head of Political Economy and author of Universal healthcare without the NHS, to join him in the studio to discuss how other developed countries structure their healthcare systems, and the outcomes they get for their patients. 

Listen here.

Also on Live from Lord North Street this week (a Saturday special!), President of the Venezuelan Alliance Jorge Jraissati looks to the future of Venezuela and their plans to reconquer their democracy and rebuild their economy.

 

Listen here.

Best of the Blog

New on our blog, the IEA’s Ralph Buckle went head to head with our Economics Fellow Julian Jessop on whether 16-year-olds should be allowed the vote.

Ralph argued yes: the franchise should be as large as reasonably possible, noting that as 16-year-olds are liable to pay income tax and national insurance, they should have the corresponding representation. 

Julian argued no: while your liability for taxes depends on your income and expenditure, not your age, it is surely more significant that a large number of other rights and obligations only kick in at 18. 

He also noted that classroom teaching and exposure to social media are no substitute for real world experience. So for now, the threshold should remain firmly at 18. 

Read the full blog here.

Also on the blog this week, Policy Advisor to the IEA Director General Alexander Hammond wrote about the recent anti-capitalist protests around the world. 

Alex argued that while decrying the ills of capitalism on a placard or in a newspaper headline is a trend with little sign of going away any time soon, the data simply doesn’t support the anti-capitalists. 

Read the full blog here. 

You're Invited!

Zero-Hours Contracts: Empowerment or Exploitation 

Zero-hours contracts have been a subject of controversy in recent years. And the IEA will be hosting a panel discussion on the topic later this month. 

Proponents argue their flexibility allows people to work as and when they choose – fitting employment around commitments like children, education, and other jobs. 

But critics argue the contracts are exploitative, leaving people without a secure source of income and used by companies to avoid their legal rights to employees. 

Labour Party policy is to ban their use; but polls show people working on ZHCs are often happier with their work than those on standard full- and part-time contracts. 

So what is the best way forward?

Panelists will include:

Andy Mayer, Chief Operations Officer, IEA (Chair)

Mark Littlewood, Director General, IEA 

Nick Deny, Head of Policy, Union Blue 

To join us for this fascinating event on Wednesday 20th November please email [email protected]. 

Zero Hours Contracts are also the subject of the latest film by acclaimed director Ken Loach, which IEA Director General Mark Littlewood was asked to review by The Observer.  You can read it here.

In Conversation with the Rt. Hon Ruth Kelly 

The IEA’s Research Director Syed Kamall and the former Head of Communications at 10 Downing Street and former BBC Westminster Editor Sir Robbie Gibb will be in conversation with Rt. Hon Ruth Kelly, former cabinet minister in the Blair governments.  

The event is at 6pm - 8pm on Monday November 25th in the Waldegrave Drawing Room at St Mary’s University, Twickenham. 

For further details of the event and to register for a place, click here. 

Spontaneous Order: Language, Law and Liberty With Dr. Elaine Sternberg



Spontaneous order is an extremely widespread phenomenon, crucial for understanding human institutions as fundamental as language and the law, morals, markets and money.  It is also central to a key defense of individual liberty.  But although the role of the ‘invisible hand’ is generally appreciated by economists, the operation of spontaneous order is seldom recognised by others, and is often misunderstood.

We are delighted to invite you to the Institute of Economic Affairs where Dr Elaine Sternberg will investigate this powerful notion, and unpack confusions that may result from it being characterised as ‘the result of human action, but not of human design’.  She will also explore ways that spontaneous order might operate in often unsuspected arenas including academia and literature.

The event will take place at 6pm - 8pm on Tuesday 26th November. If you would like to attend, register at [email protected].

Walls come tumbling down

This weekend marks the 30th anniversary of the fall of the Berlin Wall.   

But what would have happened if the wall hadn’t come down?  This fascinating premise will be discussed at a special event at the IEA later this month. 

Join the IEA’s Head of Political Economy Dr. Kristian Niemietz and historians Roger Moorhouse and Giles Udy for what promises to be an intriguing discussion, chaired by IEA Academic and Research Director Professor Syed Kamall. 

It will take place at the IEA at 6pm - 8pm Thursday November 28th at 6pm - 8pm. To attend, email [email protected] 

Kristian Niemietz is author of the fictional work The Mirage of Democratic Socialism which provided the inspiration for this upcoming panel discussion.  You can read it here. 

He also authored Socialism – The failed idea that never dies, our most downloaded book of the year.  Read it here.