IEA Podcast

Join the IEA Podcast as host Callum Price, Director of Communications at the Institute of Economic Affairs, sits down with Dr Christopher Snowdon, Head of Lifestyle Economics, and Dr Kristian Niemietz, Editorial Director, to discuss recent revelations about government waste and inefficiency, including the shocking story of Rory Stewart's Turquoise Mountain organisation losing $1 million in US aid money. They explore whether the UK needs its own version of a "DOGE" - someone to tackle bureaucratic bloat and wasteful spending - and debate if such an approach would actually work in practice. The conversation delves into the problem of state-funded pressure groups and NGOs, with Snowdon highlighting his research on "sock puppet" organisations that use taxpayer money to lobby for controversial policies. The team examines how the European Commission funds environmental groups specifically to lobby MEPs, creating what they describe as a self-perpetuating cycle of government lobbying government. The discussion then turns to calls for UK reindustrialisation amid concerns about military readiness and manufacturing capacity. While acknowledging valid concerns about how net zero policies have impacted British industry, the panel pushes back against manufacturing nostalgia, noting that the UK still maintains significant manufacturing output - just with fewer workers due to automation and efficiency gains. We bring you a public affairs podcast with a difference. We want to get beyond the headlines and instead focus on the big ideas and foundational principles that matter to classical liberals.The Institute of Economic Affairs is an educational charity, it does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this IEA Briefing, Communications Director Callum Price sits down with Editorial Director Kristian Niemietz to discuss his new SubStack piece "In Defence of Unfair Competition: Why it is a fallacy to treat market competition like a sports competition." Niemietz explains that while sports require standardised rules and level playing fields, markets thrive on natural advantages and different approaches to solving problems. Using examples from wine production to international trade, he shows why "unfair" advantages in business - whether from geography, climate, or even government policies - shouldn't necessarily be "corrected." The discussion is particularly timely given Donald Trump's recent calls for "level playing fields" in international trade, with Niemietz arguing that attempts to equalise trading conditions through tariffs ultimately harm consumers. When higher-priced domestic products are protected from cheaper foreign competition, consumers end up paying more and have less to spend elsewhere in the economy, making the whole country poorer. Drawing on historical examples, Niemietz contrasts the success of free-trading economies like Hong Kong and Singapore with the poor performance of protectionist Latin American countries in the 20th century. He challenges Trump's narrative about 19th century American protectionism, citing research showing that less protected industries actually performed better. The key takeaway: while large economies like the US might be able to "get away with" protectionism, the evidence suggests free trade produces better outcomes. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this episode of the IEA Podcast, host Reem Ibrahim sits down with Tom Clougherty and Kristian Niemietz to dive into the latest policy developments across the UK. The discussion kicks off with an analysis of the government's ambitious new towns initiative, examining whether central planning is the right approach to solving Britain's housing crisis. The conversation then shifts to Reform UK's recently announced energy policies, including their controversial windfall tax on renewable power and ban on battery storage systems. The guests critique these measures from a free market perspective, arguing that they represent an "authoritarian approach" that could make energy more expensive rather than achieving the stated goal of affordability. The episode concludes with a sobering look at public sector productivity, particularly focusing on the NHS which is now 20% less productive than before the pandemic. Tom and Kristian explore the structural issues behind declining productivity in nationalised services and discuss potential market-based solutions to these challenges. We bring you a public affairs podcast with a difference. We want to get beyond the headlines and instead focus on the big ideas and foundational principles that matter to classical liberals.The Institute of Economic Affairs is an educational charity, it does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this IEA Briefing, we analyse Reform UK's newly announced energy policies with Andy Mayer, the IEA's energy analyst and CEO. The discussion covers four key policies: a windfall tax on renewable power, a solar farm tax, a ban on battery energy storage systems, and legislation to force National Grid to underground cable installation. Andy breaks down each policy, explaining that while Reform UK has been making sensible points about net zero's challenges, their proposed solutions raise concerns. He discusses how the windfall tax largely duplicates existing legislation, questions the food security argument behind the solar farm tax, challenges the logic of banning battery storage systems, and highlights the enormous costs of mandatory underground cable installation. The conversation provides valuable context around energy market regulations, subsidy schemes, and the importance of technology-neutral approaches. Andy emphasises that the focus should be on deregulation and letting energy markets work efficiently, rather than creating new restrictions for specific industries. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this IEA Book Club event, Sam Freedman, Senior Fellow at the Institute for Government, discusses his new book "Failed State: Why Nothing Works and How to Fix It" with IEA Executive Director Tom Clougherty. Freedman, who previously served as a Senior Policy Adviser to Michael Gove and Executive Director of Teach First, presents a stark analysis of Britain's governance crisis. Freedman argues that decades of increasing centralisation, executive dominance, and media-driven policymaking have created a state that is fundamentally unable to deliver effective governance. Through concrete examples and detailed analysis, he illustrates how the concentration of power in Westminster, combined with the hollowing out of local government and the constant pressure of the 24-hour news cycle, has led to institutional paralysis. The discussion explores potential solutions, from meaningful devolution of power to reform of Parliament and the civil service. Freedman makes the case that without fundamental changes to how Britain is governed, no government – regardless of political persuasion – will be able to effectively implement its agenda. The conversation also delves into the challenges of institutional reform and the prospects for meaningful change in the current political environment. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

IEA's new discussion paper "Liberalising Discrimination Law" examines how anti-discrimination legislation in the UK has evolved since the 1960s, with particular focus on the Equality Act 2010. Daniel Freeman, one of the paper's authors, breaks down how the law has shifted from addressing direct discrimination to increasingly complex regulations around indirect discrimination and group outcomes. The discussion explores real-world examples, including the Next retail case where warehouse workers' higher pay compared to shop staff led to discrimination claims, and how Birmingham City Council faced £700 million in backpay due to equal pay disputes. Freeman explains how current legislation can create unintended economic distortions and burden employers with complex compliance requirements. Watch as Freeman and host Reem Ibrahim examine the paper's core argument for stripping back the Equality Act to focus primarily on direct discrimination, while questioning whether policies meant to address historical inequalities may sometimes work against individual fairness. They also discuss potential future trends in discrimination law, drawing parallels with recent developments in the United States. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Donald Trump is threatening 25% tariffs on allies - from Canada to Europe. The Bank of England has halved its growth forecasts. And the government is pushing nuclear power forward. We break down what this all means and why it matters. In this episode of the IEA podcast, Director of Communications Callum Price is joined by Editorial Director Kristian Niemietz and Executive Director Tom Clougherty. Kristian Niemietz explains why Trump's protectionist instincts could damage global trade and make everyone poorer. Then we dive into the UK's productivity crisis with Executive Director Tom Clougherty, exploring why output per worker is falling. Finally, we look at nuclear energy - why has it gotten more expensive over time, and what can be done to fix it? From trade wars to energy policy, we cut through the noise to explain the week's big economic stories and what they mean for our prosperity and freedom. Join us for a deep dive into the policies shaping our world. We bring you a current affairs podcast with a difference. We want to get beyond the headlines and instead focus on the big ideas and foundational principles that matter to classical liberals.The Institute of Economic Affairs is an educational charity, it does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this segment from our longer "Not Invented Here" interview, Dr Christopher Snowdon examines the environmental movement's puzzling resistance to proven climate solutions. He focuses on two key examples: nuclear power and GM foods, where environmental groups consistently oppose technologies that could help achieve their stated goals. The discussion reveals how historical events like Chernobyl shaped anti-nuclear sentiment, despite nuclear power being one of the most effective tools for fighting climate change. Snowdon points out the stark contrast between environmentalists' embrace of climate science and their rejection of scientific consensus on nuclear safety, noting that Chernobyl's death toll pales in comparison to ongoing deaths from coal pollution. The conversation extends to GM foods, particularly golden rice, where activist opposition has prevented a solution to malnutrition in developing nations. Snowdon argues this resistance stems from environmentalists' romanticised view of organic farming rather than scientific evidence, highlighting how ideological preferences can block practical solutions to urgent global challenges. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this extract from the IEA Ralph Harris Centenary Lecture, Tyler Goodspeed, former Acting Chairman of the Council of Economic Advisers, outlines three critical steps to revive UK economic growth. Beginning with the principle of "first, do no harm," Goodspeed argues that Britain must stop undermining sectors where it historically held competitive advantages - particularly in financial services and energy production. His second point focuses on the importance of personnel in policymaking, particularly at the Bank of England. Goodspeed notes that appointments to key committees have remained remarkably consistent regardless of which party is in power, suggesting that changing the people making decisions could be an "easily remedial problem." He emphasises the vital role of institutions like the IEA in cultivating the next generation of economic policy talent. Finally, Goodspeed contrasts the US and UK political systems to illustrate his third point about the necessity of strong political leadership. Using Texas's successful shale revolution as an example, he explains how America's dispersed power structure allows good ideas to succeed despite opposition. In contrast, he argues that the UK's concentration of power around the Prime Minister creates a risk-averse culture that stifles change. He concludes with a call for leadership that recognises growth as a moral imperative, stating that Britain has succeeded at this challenge before. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this episode, Reem Ibrahim is joined by Tom Clougherty and Dr Kristian Niemietz to analyse Rachel Reeves' recent growth-focused speech and Keir Starmer's commitment to deregulation. The team examines the apparent contradiction between Labour's pro-growth rhetoric and their policies on employment law, environmental regulations, and taxation - drawing interesting parallels with the French economic model. The conversation shifts to reflect on the five-year anniversary of Brexit, evaluating its outcomes against the original promises and aspirations. While Britain has technically "taken back control," the panel discusses how regulatory power has often simply shifted from Brussels bureaucrats to UK quangos, with limited progress on promised deregulation. They explore the surprising dynamics of post-Brexit immigration and consider what opportunities may have been missed during years of Brexit-dominated politics. Looking back at the IEA's history, the discussion turns to how economic challenges have evolved since the organisation's early days. While the Institute once focused on combating clear ideological opponents like Keynesianism and Marxism, today's barriers to growth - such as the planning system and infrastructure bottlenecks - often stem from complex institutional structures and interest groups rather than pure ideology. We bring you a public affairs podcast with a difference. We want to get beyond the headlines and instead focus on the big ideas and foundational principles that matter to classical liberals.The Institute of Economic Affairs is an educational charity, it does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe