Elon Musk’s SpaceX has launched the largest ever public offering of stock today, selling $75 billion worth of shares. SpaceX emphasised its remarkable achievements in its IPO filing: ‘We are the primary launch provider for the US government. In 2025, we launched 11 of 12 National Security Space Launch (‘NSSL’) medium and heavy lift missions […]
June 4 marked the 37th anniversary of the Tiananmen Square massacre. It has been a long time since the China of reform and opening-up gave way to one of the strangest regimes of our age: a country with the political freedoms of the Soviet Union but economic power approaching that of the United States, capable […]
Sweden is often held up as a role model for those wishing to expand the size of government around the world. But rather than being proof that socialism works, the Swedish experience is in fact evidence for the benefits of free markets, limited taxation, strong societal norms and robust financial institutions. Sweden historically pioneered many […]
If you have argued in favour of market-based solutions in some area of society which is under government control, you may have received objections along the lines of ‘I don’t believe the market can handle X’, ‘companies only look at the short term’ or ‘companies are motivated by greed and cannot be trusted to handle […]
On June 12, SpaceX is expected to launch what could become the largest IPO in history. In its prospectus, the company states: ‘We believe that our current space efforts will catalyse transformative breakthroughs that could reshape terrestrial industries and lead to the emergence of new trillion-dollar markets on the Moon, Mars, and beyond.’ This vision […]
What have Rachel Reeeves, Yvette Cooper and Ed Miliband got in common? Yes, they are experienced politicians, with a combined total of 66 unbroken years in the House of Commons. Yes, they occupy some of the key posts in Keir Starmer’s Government and will probably still be Cabinet members after a change of leadership. I […]
Modern monetary theory (MMT) is an economic theory that has become popular in the blogosphere and heterodox academic circles. It’s also caught the eye of some politicians. Notably, Zack Polanski has been learning about MMT and using it to answer questions about government debt. According to MMT, the Treasury should use higher deficits – funded […]
As Britain debates Net Zero, energy security and the future of North Sea drilling, an older argument has returned with renewed force: that the UK squandered its oil wealth while Norway built a sovereign wealth fund worth more than a trillion dollars. It is an appealing story. If only Britain had saved its North Sea […]
Rachel Reeves probably did not expect regulatory reform of ring-fencing rules to become one of her more significant achievements as Chancellor. But credit where it’s due, the Government is right to pursue serious, common-sense reform of ring-fenced banks (RFBs) in order to free up capital for investment in British businesses. Since the 2008 Global Financial […]
This week I was fortunate enough to sit down with the Rt Hon Liz Truss. We discussed the usual things you expect. The state of the UK economy, the Bank of England, the Civil Service, and to quote Truss, how ‘Power was taken from the elected and given to progressive bureaucrats and judges’. I must […]
It’s no secret that the strong commitments to free markets that, at least rhetorically, marked many conservative parties from the 1980s until 2015, are no longer so robust. Full-throated support for free trade, for example, is hard to find in Donald Trump’s Republican Party. Other Western centre-right parties have proved more resistant to protectionist sentiment. […]
The fate of the high street, and support for local communities, has just come into even sharper focus following the local election results and their consequences – of which more later. Everyone thinks the high street is important, right? Voters constantly complain that the high street is full of vape shops. Shop owners say the […]
You’ve done it. After 15 years of staring at a screen and someone else’s quarterly KPIs, you have finally resigned. The dream is close. Your own coffee shop. Your other half is on board, if a little nervous. The bank, after a polite interrogation, has approved the business loan. You scout a unit on a […]
This was not the King’s Speech Keir Starmer imagined it would be. The crisis engulfing the Prime Minister has become so terminal that Buckingham Palace even questioned whether it would be appropriate for the King to speak at all. But Starmer hasn’t maneuvered himself to the top job for nothing, and he patently won’t go […]
Britain is in a funk. Economic sclerosis, populist agitation, social fragmentation – now with extra domestic terrorism – and a political class bewildered by it all. What to do? Enter historian A.G. Hopkins. In his book, ‘The Land Where Nothing Works: How Britain Lost the Plot’, Hopkins’ sweeping analysis explores the last two centuries of […]
One of my favorite Soviet-era jokes is the story of a farmer and a Soviet official. The official asks the farmer: if you had two farms, would you give one to the state? ‘Of course,’ the farmer replies. If you had two tractors, would you give one to the state? ‘Yes,’ he says again. ‘And […]
Americans like their eggs. While for Britons it is but one part of a fry up or mere fodder for toasted soldiers, for Yanks there is a deep romance, whether eaten at an old-school diner or as part of a trendy brunch. It was therefore bemusing for outsiders when the price of eggs caused a […]
The Green Party is proposing that CEO salaries should be capped at ten times the minimum pay within a company. Given the current leadership of the Greens, this is not surprising. But what is surprising is that, according to a YouGov poll 65% of Brits seem to agree – including 77% of Labour, 58% of […]
For years, politicians of all stripes have talked about turning Britain into a ‘science and technology superpower’. It is an appealing slogan. The UK has world-class universities, top researchers and a reputation for remarkable scientific discoveries. On paper, the country should be an innovation leader. But as new research from the Centre for Policy Studies […]
The Atlantic’s Jeffrey Goldberg asked a dying Fidel Castro in 2010 if Cuba’s economic model was worth exporting to other countries. He replied: ‘The Cuban model doesn’t even work for us any more.’ It has taken a decade and a half for the Cuban regime’s fans to catch up and they are still advocating for […]
For more than a decade, Thomas Piketty has shaped the public conversation about wealth. His central warning is stark. When returns on capital exceed the growth rate of the economy, wealth accumulated in the past grows faster than income earned in the present. Over time, inheritance becomes decisive. Societies begin to resemble nineteenth-century Europe, where […]
Jonathan Hinder, Labour’s MP for Pendle and Clitheroe, has taken to X to deliver what he clearly hopes will be received as a bracing call to arms. In a forty-second video (the medium is very much the message) he laments that ‘Trump’s whims, tariff wars, global energy prices’ now ‘dictate living standards in Britain’. The […]
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