IEA Podcast

In this episode of the IEA Podcast, host Tom Clougherty and Matthew Lesh are joined by Daniel Freeman to discuss three timely and controversial topics. They begin by examining Nigel Farage's recent comments on Ukraine and NATO expansion, exploring the nuances of the situation and how it's perceived differently in the UK versus the US. The conversation then shifts to the potential implementation of road pricing in the UK, weighing its economic benefits against political challenges. Finally, the panel dives into a discussion on whether neoliberalism leads to populism, inspired by a recent Financial Times article. They examine the rise of populist movements across Europe and consider alternative explanations for this political trend. Throughout the episode, the hosts and guest offer insightful analysis and challenge conventional wisdom, providing listeners with a deeper understanding of these complex issues from a classical liberal perspective. Our goal is to bring you a public affairs podcast with a difference. We want to get beyond the headlines and the shallow political commentary you'll get elsewhere and focus instead on the big ideas and foundational principles that classical liberals should care about. 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

The Institute of Economic Affairs recently hosted a Book Club event reflecting on "The Orange Book" published by the Liberal Democrats 20 years prior in 2004. The event was hosted by Tom Clougherty, Executive Director of the IEA, and featured three of the original authors - Mark Oaten (Former MP & Home Affairs Spokesperson), Baroness Susan Kramer (Former Minister of State for Transport), and Sir Vince Cable (Former Leader of the Liberal Democrats). The panelists discussed the origins and impact of The Orange Book, which aimed to reclaim economic liberalism within the Liberal Democrat party at the time. They reflected on how ideas changed during the Coalition government years, with insights around industrial policy, privatisations, regulation, public service reform and more. Key topics covered included the struggle to enact radical policies, the role of the market vs. government intervention, and the compatibility of economic and social liberalism. Looking ahead, the panel debated what a new "Orange Book" focused on reclaiming liberalism might include today - addressing issues like the fiscal challenges, Brexit, environmentalism, and even artificial intelligence. While differences remained between the economic and social liberal perspectives, there was shared emphasis on the need for a more popular, outward-looking brand of liberalism to tackle nationalism and populism.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

The Institute of Economic Affairs hosted a Book Club event featuring Michael F. Cannon, Director of Health Policy Studies at the Cato Institute, to discuss his book "Recovery: A Guide to Reforming the U.S. Health System." The event was moderated by Tom Clougherty, IEA Executive Director. Cannon provided an in-depth analysis of the U.S. healthcare system, challenging the common perception that it is a free market system. He argued that the U.S. has every form of socialised medicine found in other countries, from employer-sponsored insurance to government programs like Medicare and Medicaid. Cannon advocated for market-based reforms to drive down costs, improve quality, and increase access to healthcare. Key topics covered included the role of third-party payers in driving up healthcare spending, the innovations emerging in pockets of the market, and the need to empower consumers to control their healthcare dollars. Cannon also reflected on the life and legacy of David Boaz, the late Executive Vice President of the Cato Institute and a titan of the liberty movement. 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

On this episode of the IEA Podcast, host Matthew Lesh is joined by David Galbraith, a British architect, designer and internet entrepreneur to ask: Is Europe Being Left Behind? Galbraith argues that Europe's postwar economic model rewarding hard work but providing a massive welfare state is now unaffordable given demographic realities. He sees Europe struggling to adapt to the digital and post-industrial economy, lacking companies on the scale of U.S. tech giants like Google, Amazon and Apple. Cultural factors like greater risk aversion have held Europe back from the kind of technological breakthroughs seen in Silicon Valley. The conversation ranges from Europe's green energy policies and nuclear power to the latest AI developments like large language models. Galbraith sees AI and compute power as key to solving challenges like climate change. He calls for policies that create an environment for private sector innovation and risk-taking, warning against premature over-regulation that could leave Europe on the sidelines of the AI revolution. 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

"You Do Not Exist: An Introduction to George Orwell's 1984" is a comprehensive analysis of one of the most influential novels of the 20th century, published by the Institute of Economic Affairs (IEA). This thought-provoking work delves into the life of George Orwell, the historical context that shaped his writing, and the enduring relevance of his masterpiece, 1984. Through a meticulous examination of Orwell's experiences, influences, and the novel's themes, the author, Christopher Snowdon, offers a compelling exploration of the novel's warnings against totalitarianism, the corruption of language, and the erosion of objective truth. Combining biographical details, literary analysis, and contemporary parallels, "You Do Not Exist" serves as an invaluable guide to understanding the depth and resonance of Orwell's dystopian vision, inviting readers to contemplate the timeless lessons and cautionary tales embedded within its pages. 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

On this episode of the IEA Podcast, host Matthew Lesh is joined by Professor Jonathan Portes of King's College London to discuss the hot button issue of immigration policy in the UK. As political parties announce restrictive immigration plans ahead of elections, the question is asked: Should immigration be capped? Professor Portes, an expert on labor markets and immigration, provides his analysis on the recent spike in immigration numbers and the factors driving it, including pent-up demand from the pandemic, refugee flows, and the new post-Brexit immigration system. He argues that fixating on numbers misses the point - the system should be designed to bring in workers that benefit the economy long-term. The wide-ranging discussion covers concerns around immigrant impacts on public services, housing, productivity and social cohesion. Portes pushes back on many of the common anti-immigration arguments, while acknowledging some of the trade-offs involved, especially around housing supply constraints. It's a nuanced dive into one of the most polarising issues in British politics. 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

The Conservative Party's proposal to reintroduce 12 months of mandatory national service if they win the general election has sparked a heated debate between Matthew Lesh, Director of Public Policy and Communications at the Institute of Economic Affairs, and James Price, a former government advisor. Lesh argues against the policy, viewing it as an infringement on individual liberty and questioning its effectiveness, while Price, once a classical liberal, makes a case for it as a necessary measure to promote social cohesion, patriotism, and resilience in an increasingly fragmented society. The discussion delves into the role of government in shaping culture, the perceived decline of traditional institutions, the challenges faced by younger generations, and the trade-offs between individual freedom and collective responsibility surrounding the national service debate. 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 week's IEA Podcast episode, host Reem Ibrahim and guest Andy Mayer from the Institute of Economic Affairs discuss the appalling findings of the UK's Infected Blood Inquiry, which revealed over 30,000 people were infected with HIV and hepatitis C from contaminated NHS blood products in the 1970s-80s.Mayer demonstrates the NHS, clinicians and governments of repeatedly failing patients by covering up risks for decades to avoid compensation, enabled by the NHS's lack of market incentives for transparency and innovation - a catastrophic institutional failure costing thousands of lives. Exploring why the NHS covered up the scandal, Mayer argues introducing market mechanisms to the blood supply could have prevented or resolved it sooner by driving higher quality suppliers, product diversity and safer treatment innovation. 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 Institute of Economic Affairs "In Conversation" interview, Tom Clougherty sits down with renowned conservative historian and commentator Simon Heffer. Heffer pulls no punches in his scathing critique of contemporary Conservative leadership and the party's civil war over Europe. He explores major challenges Britain faces - an aging population, pressures on the welfare state, and the need for pro-growth economic reforms. Heffer calls for reining in corporatism and state overreach while incentivizing hard work and self-reliance. He advocates transitioning from a welfare state to a "welfare society" rooted in Victorian values of self-help, making this a must-watch discussion on the future of British politics and economics. 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

On this IEA Podcast episode, host Matthew Lesh engages Tom Clougherty, the Institute of Economic Affairs' Executive Director, in a thought-provoking discussion centered around the government's recent efforts to cut red tape. They dive deep into the 10-point plan announced, which includes measures like issuing new regulations only when "absolutely necessary" and imposing stronger growth duties on regulators. While acknowledging these as positive steps, Clougherty argues that they fail to truly reshape Britain's regulatory landscape fundamentally. The conversation explores the origins of the modern regulatory state, the institutional and cultural forces driving over-regulation, and the structural reforms needed, such as mandatory sunset clauses and a senior government figure spearheading deregulation, to counterbalance these pressures effectively. 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