The World Cup starts today and for the first time in over 30 years it is being held in North America. Not only is this exciting news for football fans, it should also be of interest to free trade enthusiasts, as the last time it was held there the North American Free Trade Agreement (NAFTA) […]
September 2023: what a time that was to be alive. Aerosmith began their final ever tour, Kim Jong-Un arrived in Russia for an audience with Vladimir Putin and Rupert Murdoch stepped down from the boards of Fox and News Corp. It was a good month for news. Yet that month another turning point in world […]
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 […]
After the Government’s timid attempt to slow the growth of welfare spending collapsed under pressure from its own backbenchers and disability activists, ministers needed a way out. Their answer was to agree to the Timms Review of Personal Independence Payment (PIP) ‘co-produced’ with disability groups. It never stood a chance. With a steering group overwhelmingly […]
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 […]
The scale of the housing crisis is sobering. Britain has the worst housing shortage of any major developed nation. Decades of undersupply have contributed to house prices and rents skyrocketing out of reach. In 1997, the average home cost about 3.5 times the average income. As of 2024, an aspiring buyer must devote nearly eight years’ worth of […]
The battle of essays between Labour Party grandees has given British politics a distinctly retro feel over the last week, as Tony Blair, Keir Starmer, Wes Streeting and Andy Burnham behaved like competing 18th-century pamphleteers explaining in earnest detail why things will only get better if they’re in charge. The ideas these once-and-would-be-future Labour prime […]
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 […]
Brace yourself, but I don’t mind Michelle Obama. Sure, she might prattle on about the evils of white, corporate America too much for my liking, but the former First Lady certainly doesn’t suffer fools gladly, and this was on full display at this week’s SXSW festival in London. Addressing the crowd, Obama warned young people […]
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 […]
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. […]
When the Labour Government gained power in 2024, Matthew Syed proposed in his Times column the creation of a ‘Department for Long-Term Thinking’: a department that would take government out of the fog of the 24/7 news cycle and encourage policymakers to focus on the bigger picture. Although translating that idea into practice would probably […]
