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The truth is out about politics, politicians, officials and bureaucracies – the IEA publishes a primer on Public Choice Theory

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  •   Apr-3-2012
  •   Politics
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With the fuel scare over the last week, we saw how a few people in power can shift peoples’ expectations radically and drive them in large numbers to take the same actions. In technical if graceless terms, we have seen how big players shift economic expectations to produce herding. Of course people are responsible for their own actions but politicians and officials influence how people think and therefore what they do. Now, with the release of the IEA’s short primer […]

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Today’s strike action is unjustified

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  •   Nov-30-2011
  •   Politics
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The strike taking place today is not just a walkout, but a walking away from the negotiating table, where a good deal was rejected irresponsibly. The Minister for the Cabinet Office, Francis Maude, has said: “Tomorrow’s strike is inappropriate, untimely and irresponsible, especially while talks are ongoing. “We have listened to the concerns of public sector workers and that is why at the beginning of this month we put an improved offer on the table.  The offer ensures that public […]

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Freedom in Education: the profit motive

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  •   Oct-25-2011
  •   Politics
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NB: this post is by Tim Hewish, my Parliamentary Researcher, and the views expressed are his own. I recently attended the E. G. West Memorial Lecture delivered by Professor James Tooley and sponsored by the IEA on the topic of for-profit schooling. He noted that the word profit is highly politicised and many would not wish to even countenance the notion that profit-making should be implemented in schools.  Professor Tooley prefers the term freedom in education because when we discuss […]

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Six days left to respond to the HS2 consultation

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  •   Jul-23-2011
  •   Politics
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THERE are just six days for residents to say ‘no’ to High Speed 2. But an action group have assured Buckinghamshire householders help is at hand to answer the Government’s public consultation. July 29 is the cut off point to respond to the questions. via Just six days to say no to HS2 (From Bucks Free Press). See also the IEA’s report, High Speed 2: the next government project disaster? For the consultation, please see highspeedrail.dft.gov.uk.  I have previously stated my opposition […]

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Panel discussion held in Parliament on Martin Durkin’s film Britain’s Trillion Pound Horror Story

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In November 2008, the Institute of Economic Affairs published Nick Silver’s A Bankruptcy Foretold: The UK’s Implicit Pension Debt (PDF), which argued that if the UK’s debt is calculated in line with generally-accepted accounting principles, it is something over £4 trillion. In June this year, an update was published, putting the full scale of the British state’s liabilities at £4.8 trillion, which is around 333% of GDP or £78,000 per person. For comparison, the Budget Red Book (page 2) forecasts […]

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Interventions in rail

I have just finished reading two superb briefings from the House of Commons Library: Price Controls and State Intervention in the Rail Market and Railways: EU Policy. Three points emerge: That the Library produces first-class work: readable, clear, appropriately detailed, targeted. That the rail market in the UK is far from free. That the EU regularly produces reports on revitalising Europe’s railways, notably in 1996, 2001, 2003 and 2008. This regularity perhaps speaks for itself. More anon, but I am reminded […]

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Government urged to reveal ‘true’ national debt of £4.8 trillion – Telegraph

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  •   Aug-22-2010
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Via Government urged to reveal ‘true’ national debt of £4.8 trillion – Telegraph: The Institute of Economic Affairs (IEA) has calculated that the national debt is £4.8 trillion once state and public sector pension liabilities are included, or £78,000 for every person in the UK. The IEA raised its concerns after the latest public finances data from the Office for National Statistics (ONS) this week, which showed that the total debt, excluding bank bail-outs, is £816bn – itself a record high. […]

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“The Austrian School” by Jesús Huerta de Soto

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  •   Jul-11-2010
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I have discovered that the IEA have relaunched “The Austrian School” by Jesús Huerta de Soto: It has become increasingly clear that interventionism played a significant role in precipitating the 2008 financial crisis. The Austrian School is more than capable of providing the free market theoretical framework needed to understand why governments and central banks helped bring about the bust. Jesus Huerta de Soto’s book offers a comprehensive yet concise overview of the Austrian school, an increasingly influential branch of economics. […]

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IEA Blog: A cheer for Iain Duncan Smith – but he will make enemies

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  •   May-29-2010
  •   Politics
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The IEA blogger Kristian Niemitz reports Iain Duncan Smith’s speech: “The purpose of my life here is to improve the quality of life of the worst off in society.” Such ambitious rhetoric is not unusual for new incumbents at the Department for Work and Pensions. The difference with Iain Duncan Smith is that he means it, having advocated an overhaul of Britain’s rotten welfare system for years while being far away from the lure of power. If IDS is to […]

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Engineering, politics, Labour and reality

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  •   May-26-2010
  •   Politics
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As I sit here on the train, reading a book on ethics, I am mindful of being an engineer in politics. Engineers are quintessentially pragmatic. We get things done, in the circumstances we face, with the resources we have. We may accept falling short of perfection, but we deliver things which work and improve them. However, we don’t flounder around uninformed. Aeroplanes do not fly thanks to fairy dust and software does not write itself. Aerospace engineering requires the application of […]

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Steve Baker is the Conservative MP for Wycombe.

Steve was first elected to Parliament in 2010. He was previously an RAF engineer officer then a consulting software engineer. Find out more...

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