Friedrich Hayek is rightly considered to be one of the intellectual forefathers of classical liberalism and his famed work, 'The Road to Serfdom', is thought of by many to be the ideology's clearest codification.
However, with the book's 80th anniversary looming, we thought it would be a good idea to revisit this seminal work and ask the question, was Hayek right?
On the panel was:
Dr James Forder (Chair) - IEA Academic and Research Director
Dr Kristian Niemietz - IEA Head of Political Economy
Professor Mark Pennington - Professor of Political Economy and Public Policy at King's College London
Sherelle Jacobs - Daily Telegraph columnist

Was Hayek Right? | IEA Discussion

Welcome to the IEA Podcast. The Institute of Economic Affairs is the UK’s original free market think tank, founded in 1955. 

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.

Given the current economic challenges facing Britain and the wider global environment, it is more vital than ever that we promote the intellectual case for a free economy, low taxes, freedom in education, health and welfare and lower levels of regulation.

We hope you enjoy listening!

Education

Training

Language Courses

Higher Education

K-12

Educational Technology

News

Politics

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.

Cutting Through Red Tape | IEA Podcast

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.






Copy

Brexit Advisor: Boris Johnson, Negotiations & COVID Lockdowns with Lord Frost | The Swift Half Show

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.

UK Immigration: Economic Burden or Benefit?

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.

Where Are Britain's Workers? Reforming the UK Disability Benefits System | IEA Podcast

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.

Was Hayek Right? | IEA Discussion

Download our free app to listen on your phone