|
Today begins the final countdown to THINK 2022, an event we have been eagerly awaiting since our last in-person THINK in 2019. For the Outreach Department, THINK is the kick-off event for what will be a very busy and exciting summer. We are preparing for our summer programmes for sixth formers and undergraduates; a residential summer school; Freedom Week in Cambridge; and all capped off with our Economic Thought Leader’s Symposium – which you can still apply for here!
Our last speakers for this year’s conference will be Harriet Sergeant, fellow at the Centre for Policy Studies, and Dr Stefan Sløk-Madsen, Head of Research at CEPOS in Denmark. They’ll be discussing their research into the role of government in creating and combatting crime both in the UK and in Denmark.
The last two years of virtual events have reminded us how powerful and important in-person talks are, which is why we’re delighted to share our full line-up of speakers with you. We also have an exciting topic change – Dame Helena Morrissey will now be speaking on ‘Free speech and group think in government’, in an exclusive discussion with our own IEA Head of Education Dr Steve Davies.
For those who haven’t yet bought tickets but still want to join us, readers of this newsletter can use the code ‘newsletter’ at check-out to get your ticket for free!
Get your tickets here.
Brittany Davis
Head of Outreach, Institute of Economic Affairs
|
|
|
|
LIVE WITH(out) LITTLEWOOD
On Wednesday, guest presenter Martin Durkin welcomed another stellar panel of guests to discuss the week's main headlines on Live with Littlewood, including Boris Johnson's attempts at a rebrand following the vote of confidence, whether 'activist' lawyers and trade unions have too much influence on the government, and what can be done to reduce state expenditure.
The panel included: John Penrose, Conservative MP for Weston-super-Mare; Danielle Boxall, Media Campaign Manager, Taxpayers' Alliance; Tim Montgomerie, founder of Conservative Home and columnist; and IEA Head of Political Economy Dr Kristian Niemietz.
John Penrose MP argued there are 'nuggets of gold' in Boris Johnson's policy agenda, such as raising the threshold for national insurance contributions, but that there is a need to reduce the scope of government. Tim Montgomerie agreed, adding that the Conservatives are at risk of squandering the opportunity to transform Britain for the better, reminding viewers that big parliamentary majorities do not come along frequently.
On taxation, Danielle Boxall said the government could be doing more to ease the cost of living emergency by cutting taxes, while Kristian Niemietz argued that increasing the supply of housing "is as close as we can get to a silver bullet" to solving many of the UK's economic problems.
Watch the full episode here.
|
|
|
TOO LITTLE, TOO LATE?
On Thursday, the Bank of England raised interest rates from 1 per cent to 1.25 per cent, the fifth consecutive rise, pushing them to the highest level in 13 years.
IEA Economics Fellow Julian Jessop argued these measly rate increases show how far the Bank has fallen behind in the battle to curb inflation. He argued:
"A drip, drip of quarter-point increases, when interest rates are so low to begin with, is unlikely to have any significant impact either way. The Bank should either have gone big, or not bothered."
Julian argued that with inflation well above the Bank's 2 per cent target, a much bigger increase is needed to restore some credibility and to signal that the Bank is willing to do ‘whatever it takes’ to get inflation back down again.
His comments were reported in the Financial Times and regional press.
And, IEA Head of Public Policy Matthew Lesh appeared on talkTV to discuss the Bank's decision. He pointed out that compared to the US, where interest rates were lifted by three quarters of a percentage point, the rise in this country was quite moderate. Watch here.
|
|
|
|
iN THE MEDIA
Greed is good... Writing for The Times, Matthew Lesh discussed the rise of stakeholder capitalism, the idea that companies should prioritise promoting political and social issues, rather than simply focusing on the generation of profit.
Matthew argued that in order for businesses to thrive, an emphasis on profit must come first. He told readers:
"Milton Friedman, the Nobel prize-winning economist and a key proponent of shareholder capitalism, warned that corporations that sought to pursue socially desirable ends would destroy a free society".
Matthew also appeared on Times Radio to discuss his piece with presenter Matt Chorley. He asserted that the majority of consumers "prefer to get a good product with good customer service at a decent price", they don't need to be lectured about politics. Listen here.
Up in smoke... Quoted in The Telegraph, Matthew Lesh commented on the impact that implementing proposals from a recent review on tobacco policy would have on our civil liberties.
The review, led by Dr Javed Khan, includes proposals to ban smoking in beer gardens and to increase the smoking age annually. Matthew argued:
"Once we accept this pernicious logic – that it is the state’s role to prevent us from making decisions about our own bodies – it effectively marks the end of all our liberty."
Picking a food fight... Last week, the government came under fire for not including recommendations made by activist and co-founder of Leon Restaurants, Henry Dimbleby, in its new food strategy.
Commenting in The Guardian, IEA Head of Lifestyle Economics Christopher Snowdon, celebrated Dimbleby's lack of influence, warning that he has been "taken in by activists" and consequently had "come up with mad policies", such as further taxes on sugar and salt.
Christopher also urged the government to: "Stop asking people to do pointless reviews and come up with policies yourself! These are unforced errors and totally avoidable headaches."
Negotiation breakdown... This week, Foreign Secretary Liz Truss published the Northern Ireland Protocol Bill, to make it easier for some goods to move between Britain and Northern Ireland.
Quoted in the Belfast Newsletter, IEA Head of Regulatory Affairs Victoria Hewson said:
"The publication of the Bill is a positive and welcome step. As set out in my briefing in May, the EU’s position of no renegotiation and insistence on strict implementation of the Protocol was set to make matters worse for businesses and consumers in Northern Ireland already suffering economic disruptions from partial implementation".
You can read Victoria's briefing paper, The Northern Ireland Protocol: Current position and ways forward, here.
Boom or bust... IEA Chief Operating Officer Andy Mayer spoke to Nigel Farage on GB News about the prospect of a recession.
Andy argued that in spite of gloomy GDP figures, we are not yet in a position to be preaching doom. Andy stated: "We are not yet in recession territory and it's not the time to pronounce the death of the UK economy."
School's out... IEA Head of Cultural Affairs Marc Glendening appeared on TalkTV to discuss reports that the headteacher of Burgess Hill Girls school has stopped using the term 'girls' and that Tiverton High School has banned the wearing of skirts to promote gender-neutrality.
Marc argued that examples such as these should be seen "in the context of a wider post-modernist, extreme new left ideology that is seeking to totally reshape our society from the top down". Watch here.
|
|
|
As an educational charity, the work we do is entirely funded by donations. If you are able to help, please click here or get in touch with our Development Director Angela Harbutt at [email protected]. We thank you for your continued support.
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 Institute of Economic Affairs Limited 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).
|
|
|
IN CASE YOU MISSED IT
Niemietz Answers... In the latest episode of Niemietz Answers, IEA Head of Political Economy Dr Kristian Niemietz answers Google's most asked questions on the topic of social democracy, including whether the ideology is the same as socialism. Watch here.
Fascism on the rise?... In the latest episode of Parallax Views, IEA Head of Cultural Affairs Marc Glendening spoke to historian and journalist Nigel Jones to discuss the history and philosophy of fascism, fascist politics in the present day and the future of fascist movements. Watch here.
IEA Podcast... A book by Marianna Mazzucato called The Entrepreneurial State looked to turn conventional economic wisdom on its head. The book argued economic success is a result of public and state funded investments in innovation and technology, not free markets.
On the podcast this week, IEA Communications and Public Affairs Officer Kieran Neild Ali spoke to Christian Sandström, co-editor of Questioning the Entrepreneurial State, which challenges Mazzucato's work. They unpicked many of the arguments in The Entrepreneurial State. Christian is Senior Associate Professor of Digital Business at Jönköping International Business School and the Ratio Institute. Listen here.
|
|
|
IEA BOOK CLUB EVENTS
How the Woke Won... On Monday 4 July, IEA Head of Cultural Affairs Marc Glendening will chair an event with Joanna Williams on her latest book, How the Woke Won: The Elitist Movement That Threatens Democracy, Tolerance, and Reason. Joanna provides a powerful critique of the intellectual roots of wokeness and how this movement, which poses as radical and left-wing, came to be embraced by some of the most privileged people imaginable.
All these events are exclusively for IEA Book Club members. For more information on the Book Club please get in touch at [email protected] or click the link here.
|
|
|
|
CALLING ALL STUDENTS!
We are excited to launch the Economic Thought Leaders’ Symposium at the University of Buckingham from 7-9 September 2022.
The theme for this year’s programme is The Economics of War and Peace. We will discuss topics like trade not war, international institutions, diplomacy and game theory. To apply, please send a CV and cover letter explaining why you’d like to attend, as well as 500 words on promoting the reconstruction of an economy after a war to [email protected] by 17 June 2022. You can find out more here.
We have launched the 2022 Dorian Fisher Essay Competition. Named after the beloved wife of our founder Sir Antony Fisher, this is our biggest essay competition of the year, exclusively for A-Level and IB students.
First prize will receive £500, with a separate prize of £500 for the school with the highest number of entrants. The deadline for this year’s competition is Friday 29 July 2022. You can find out more here.
|
|
|
|
|
