IEA Podcast

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.

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.

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.

In this week's Swift Half with Snowdon, we are joined by Lord Frost, the former Chief Brexit Negotiator and Europe Adviser to Prime Minister Boris Johnson.

Lord Frost provides an explosive insider's view on the chaos of Brexit negotiations under Theresa May, having to reset the failed talks after joining Boris Johnson by taking a hardline no-deal stance, and his principled resignation over pushing lockdowns and vaccine passports despite Omicron's low threat. He also weighs in on nanny state overreach, European courts overstepping, and needed reforms to the House of Lords.

On this episode of the IEA Podcast, host Matthew Lesh and guest Harrison Griffiths of the Institute of Economic Affairs analyze a recent report claiming high immigration levels have burdened Britain's economy, public services and social cohesion rather than boosting growth as promised.

Harrison rebuts arguments that immigrants deter capital investment or drain public finances, instead attributing those trends to flawed government policies. They also discuss balancing public anti-immigration sentiments against labor demands, potential shifts towards only admitting high-skilled immigrants, and how the small boats issue has toxified the immigration debate, though Harrison notes valid cultural integration concerns exist alongside the economic considerations.

With over half a million more Brits economically inactive compared to pre-pandemic, concerns grow about the UK's economic potential amid labor shortages. Prime Minister Rishi Sunak has announced cracking down on disability benefits, claiming exploitation of the system. This week's IEA podcast asks: Where are the missing workers?

Host Matthew Lesh and guest Prof. Len Shackleton explore the spike in long-term sickness inactivity, especially among younger people. They analyze whether disability benefits are being exploited or if socioeconomic factors like mental health, drug abuse, and NHS backlogs are root causes. The pair also examine potential solutions from overhauling welfare incentives to boosting productivity through upskilling. Shackleton provides historical context on the "deserving" vs "undeserving" poor debate framing this complex policy challenge. Tune in for insights on a critical economic issue.

In this episode of The Swift Half with Snowdon, Christopher Snowdon welcomes Erik W. Matson, Senior Research Fellow at the Mercatus Center at George Mason University, to delve into Matson's latest work "New Paternalism Meets Older Wisdom". Matson's book, a critical examination of the "new paternalism" philosophy within behavioural economics, published by the IEA, challenges the notion that nudging policies based on choice architecture truly serve individuals' best interests.

Drawing from insights of philosophers like David Hume and Adam Smith, Matson argues for respecting individual autonomy and cautions against paternalistic interventions that may undermine authentic human agency. Their conversation touches on various aspects, including time inconsistency in decision-making and the dangers of overriding diverse values based on simplistic assumptions of people's "true" desires.

Join us for an IEA Book Club discussion with Alex Edmans, Professor of Finance at London Business School and acclaimed author, as he delves deep into the themes of his latest book, "May Contain Lies: How Stories, Statistics and Studies Exploit Our Biases - And What We Can Do About It". Hosted by Tom Clougherty, Executive Director, this event promises to unravel the intricacies of bias in education, peer review, and data interpretation, offering invaluable insights.

Alex outlines the value of questioning and curiosity in education, challenging conventional methods of learning and advocating for fostering independent thinking. He presents key examples where data presentation leads to opposing conclusions, including the benefits of wider pay gaps and diversity quotas.

In a thought-provoking exchange, Alex dissects flaws within the peer review process, shedding light on how bias can hinder scientific advancement. From humorous anecdotes to sobering revelations, he navigates through the complexities of data interpretation, urging audiences to embrace intuition while remaining vigilant of data-driven limitations.

Join Matthew Lesh, Public Policy & Communications Director at the IEA, and Dr. Kristian Niemietz, Editorial Director at IEA, in a compelling dialogue as they tackle the contentious query: Did empire make Britain rich?

In this week's episode of the IEA Podcast, Dr. Niemietz draws from his latest book, "Imperial Measurement: A Cost-Benefit Analysis of Western Colonialism," to offer a critical examination of colonialism and slavery's economic impact on Britain's prosperity. From Adam Smith's historical critiques to contemporary discussions fueled by movements like Black Lives Matter, the conversation navigates the economic arguments surrounding colonialism. Dr. Niemietz dissects the traditional narrative of empire's economic benefits, analyzing the costs of empire maintenance, colony profitability, and the enduring effects on colonized nations. Through meticulous analysis and historical context, the podcast illuminates the intricacies of Britain's colonial legacy and its relevance in understanding modern economics.

In our latest In Conversation event, we had the pleasure of hosting Dominic Frisby, a multifaceted finance commentator, comedian, and author. Frisby delved into topics ranging from libertarianism and finance to the impact of Bitcoin and the future of tax, offering insightful perspectives. Joined by IEA's Executive Director, Tom Clougherty, Frisby shared valuable insights drawn from his extensive experience. Explore how decentralised technologies and cryptocurrencies are transforming economic paradigms, and gain insights into the potential effects of digital nomadism on government tax revenue.