IEA Podcast

The IEA Ralph Harris Centenary Lecture features an opening address by Brian Kingham, Founder and Chairman of Reliance Security Group, who shares his personal experiences with Ralph Harris and the Institute of Economic Affairs during Britain's turbulent 1970s. As a 25-year-old entrepreneur employing 500 people, Kingham discovered the IEA's innovative market-based solutions while navigating a hostile business environment characterised by trade union power, excessive regulation, and punitive taxation reaching 83%. Kingham vividly describes the economic challenges of the era: businesses operating by candlelight during the three-day week, compulsory trade union membership, and a pervasive pessimism among Conservative politicians who saw Britain's decline as inevitable. Against this backdrop, he recounts finding Ralph Harris and Arthur Seldon "not 3 minutes from here," leading a small group of thinkers who offered an alternative vision for Britain's future through free-market principles. The talk culminates with Kingham's reflection on the IEA's pivotal role in shaping Margaret Thatcher's economic thinking. He describes how Harris and his "dangerous radicals" helped convince Thatcher of their approach, leading to what he calls "a complete intellectual triumph" that influenced economic policy worldwide. The lecture, marking the centenary of Ralph Harris's birth, celebrates his legacy as a public servant whose ideas helped lift millions out of poverty and continue to influence economic thinking today. 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 Communications Officer Reem Ibrahim discusses the UK's welfare system challenges, noting that 10% of working-age adults receive out-of-work benefits, many citing mental health reasons after the pandemic. The discussion references a documentary where a JobCentre discouraged a benefits claimant from job training, suggesting it could risk their existing benefits. Ibrahim argues that signing people off work for mental health issues may hinder rather than help their recovery. The conversation explores how pension costs now exceed twice the Ministry of Defence's budget. Ibrahim points to a case where a single mother received £40,000 in combined benefits, well above the UK's average £30,000 salary, highlighting problems in the current system. 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 podcast, host Callum Price, Director of Communications, joins Executive Director Tom Clougherty and Editorial Director Kristian Niemietz to analyse Labour's potential economic strategy. They examine Rachel Reeves and Keir Starmer's rhetoric around supply-side reforms, critically assessing whether the party's current approach can genuinely drive economic growth. The discussion explores the UK's net zero commitments against the backdrop of changing global environmental policies. With the US potentially shifting away from aggressive green initiatives, the podcast evaluates the economic implications of the UK's current decarbonisation strategy and its potential impact on national competitiveness. The episode also delves into market efficiency, specifically examining airport landing slots and infrastructure allocation. By proposing market-driven mechanisms, the podcast suggests ways to introduce competition and optimise resource utilisation in sectors currently dominated by established players. 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

Join IEA Managing Editor Daniel Freeman as he explores how trade tariffs shaped America with Professor Alexander Klein. In 1870, the US had a massive 45% average tariff on imported goods - compared to just 2% today. Professor Klein breaks down why the US adopted such high tariffs after the Civil War, and what this history tells us about current debates around trade protection. From intense lobbying battles between Northern and Southern states to surprising findings about productivity, this conversation challenges common assumptions about America's economic development. In this wide-ranging discussion, Freeman and Klein examine how even successful American companies pushed for trade protection, using the argument "other industries get tariffs, why shouldn't we?" Klein explains why high tariffs actually reduced productivity across most industries, despite creating more jobs - a tradeoff that's still relevant in today's policy debates. They explore how America's huge domestic market, natural resources, and waves of immigration were more important to its industrial success than trade barriers. As politicians today call for higher tariffs to protect American jobs, this historical perspective offers important lessons. Klein's research shows how trade protection can become politically addictive, even when it doesn't help economic growth. He also highlights the dangers of rising trade barriers during economic crises, drawing parallels between the Great Depression and current debates about globalization and industrial policy. 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 GB News interview, Institute of Economic Affairs Executive Director Tom Clougherty discusses Britain's economic challenges and the need for new radical ideas to overcome them. Addressing years of high taxes and low growth, he explains how many young Brits in their twenties and thirties have never experienced real economic growth, with incomes remaining stagnant since 2007.Rather than pointing to a single solution, Clougherty argues that Britain needs hundreds of changes across the economy. He discusses the need to reform energy policy, housing, and what he calls a "bureaucratic state" that's suffocating growth.Clougherty also discusses the IEA's role and mission to develop the ideas we need to overcome the greatest challenges we face today. The IEA will be at the forefront of the drive for fresh thinking and radical change required to return economic dynamism back to Britain. 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, we explore Ed Davey's proposal for the UK to rejoin the EU customs union. Reem Ibrahim, Tom Clougherty, and Kristian Niemietz demonstrate why this approach would be a backward step even from a Remainer perspective, highlighting how it would give Britain "the worst of all worlds" while restricting its ability to pursue independent trade deals. Their analysis reveals why the customs union was consistently the least beneficial aspect of EU membership for the UK, contrasting with the experience of smaller European nations. Moving to Britain's growth crisis, inspired by Janan Ganesh's thought-provoking FT article "Britain should stop pretending it wants more economic growth", our discussion delves into how politicians repeatedly choose other priorities - from environmental concerns to distribution effects - over growth-oriented policies. The team investigates the difficulties of garnering public support for pro-growth reforms at a time when younger generations lack experience of sustained economic expansion. Our final segment unpacks Labour's Renters' Rights Bill and its likely unintended consequences. The panel outlines how banning "no-fault evictions" and limiting deposits risks making landlords more selective, potentially discriminating against young people and those with irregular incomes. Through detailed analysis, they demonstrate why reducing rental market flexibility and pushing landlords to sell their properties could ultimately disadvantage the very tenants the legislation aims to protect, suggesting that increasing housing supply, rather than additional regulations, holds the key to empowering tenants. 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 new interview with libertarian power couple Matt and Terry Kibbe, founders of Free the People, hosted by IEA's Communications Manager, Reem Ibrahim, they explore how storytelling and personal narratives can effectively communicate ideas of liberty and economic freedom. From Terry's experience in the defence industry to Matt's discovery of libertarianism through Rush albums and Austrian economics, their journey showcases innovative approaches to reaching new audiences. The discussion delves into their successful strategy of making complex economic concepts accessible through relatable content and storytelling. Their work at Free the People demonstrates how video content and documentaries can bridge political divides, featuring stories from Cuban artists to family-owned businesses affected by COVID-19 policies. Host Reem Ibrahim and the Kibbes examine concerning trends, including that 53% of young adults (18-34) in the UK view socialism favourably. However, they remain optimistic about the future of liberty-focused ideas, particularly through their "gateway drug" approach of introducing these concepts through engaging, personal stories that resonate across political spectrums. 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 IEA Briefing, we explore why a 37-year-old paper on UK housing remains shockingly relevant today. Dr. Kristian Niemietz joins us to discuss the republishing of "No Room! No Room!" - Professor Alan Evans' 1988 analysis of Britain's housing crisis. Despite being written when multiplex cinemas were new and the Berlin Wall still stood, the paper's diagnosis of the UK's housing problems feels like it could have been written last week. The discussion dives into Evans' key insights about land prices, planning permission, and local authority incentives - issues that have only gotten worse since the 1980s. Dr. Niemietz explains how the paper identified core problems like NIMBYism (before the term even existed in British English) and the green belt's impact on housing development. They also explore how the planning system's effect on land costs leads to compromises in building quality and design. The conversation concludes by examining how the housing crisis has intensified, with current UK housing affordability ratios over 8 times median income in England and over 12 in some areas. While new factors like immigration now affect housing demand, the fundamental problems Evans identified in 1988 remain at the root of today's crisis. The discussion ends with a look at the growing YIMBY movement and whether there's hope for meaningful change in housing policy. 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

Dr Christopher Snowdon joins us to discuss the "Not Invented Here" syndrome in activist groups and policy campaigns. From weight loss drugs to e-cigarettes, nuclear power to GM foods, Snowdon explores how campaign groups often resist practical solutions that weren't developed by their own organisations - even when these solutions clearly work. Using real-world examples, Snowdon breaks down how activist groups frequently prefer radical societal changes over pragmatic fixes. He examines cases like public health groups opposing effective weight loss medications while pushing for dramatic changes to food environments, and environmental groups rejecting nuclear power despite its clear benefits for reducing emissions. The conversation reveals how institutional preferences and ideological commitments can sometimes override stated goals. The discussion dives into why this resistance happens, from the sunk cost fallacy to anti-corporate sentiment, and explores what it means for solving major societal challenges. Snowdon explains how campaign groups' rejection of market-based solutions often stems from deeper ideological preferences for reshaping society, rather than simply addressing the problems they claim to want to solve. This episode offers insights into why some of our most pressing problems remain stuck in ideological gridlock despite available solutions. 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, we dive into the UK's current borrowing challenges and the government's fiscal rules. Tom Clougherty, Executive Director, explains why the situation presents a significant problem for the government as borrowing costs rise and economic growth remains sluggish. The discussion explores how this could force difficult choices between spending cuts and tax increases, with potential implications for the UK's economic future. The conversation then turns to NHS reforms, where Kristian Niemietz, Editorial Director, analyses the government's recent announcements, including plans for new diagnostic centres and upgrades to the NHS app. He traces the evolution of patient choice reforms from the Blair era and examines how current proposals build on or diverge from previous attempts to introduce market mechanisms into healthcare delivery. The team debates whether these changes represent meaningful reform or just another round of centralised management. The podcast concludes comparing the different approaches to education and healthcare reform. The hosts discuss how the Schools Bill appears to be reversing successful market-based reforms in education, while healthcare policy seems to be cautiously embracing some elements of choice and competition. They explore the growth of private healthcare options in the UK and debate whether this trend should be encouraged.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