The idea of the “Entrepreneurial State” or the “state as investor” has taken off in recent years – following the release of an influential book by economist Mariana Mazzucato. This view that state investment weighs very heavily in economic growth, now forms the basis of contemporary public policy. Our government’s Industrial Strategy effectively proposes that the state should play a key role in “rebalancing the economy”. Joining us today, the IEA’s Head of Research Dr Jamie Whyte and James Price, Campaign Manager at the Taxpayers’ Alliance put this totemic idea under the spotlight. They weigh up how much growth can actually be attributed to state-led investment as is often claimed. Interviewed by Editorial Manager Madeline Grant, they question a number of common assumptions about state-led investment and provision of services – and ask whether contemporary attempts to ‘rebalance the economy’ differ from the old-school industrial strategy of the 1970s – or are merely re-packaging the same bad ideas?
Guests: Madeline Grant,Jamie Whyte,James Price
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Ahead of the European Council summit in the Austrian City of Salzburg on the 20th of September, we ask what’s next for Brexit. Can the Government stick its beleaguered Chequers proposal? Could the UK take the Norway option whilst negotiating a more comprehensive Free Trade Agreement? To discuss these issues the IEA's Digital Manager Darren Grimes was joined by Stephen Booth of the Open Europe think tank. Stephen argues that Chequers is the only game in town because it’s the only deal that meets the EU’s tests, and because the Government simply does not have the numbers or political capital to move any further away from the EU through a Canada-style Free Trade Agreement. Also joining Darren is Victoria Hewson, Senior Counsel at the IEA’s Trade Unit. Victoria argues that the EU’s demand for backstop could lock the UK into the EU’s orbit in perpetuity. For Victoria, the prospect of a our future trading agreement being determined by parliamentary politics is why Brexiteers are so worried about Chequers. There’s a feeling that if we don’t seize the momentum, the pro-Remain majority within Parliament will win the day and the opportunities of an independent trade policy and regulatory autonomy will be lost. The pair give their analysis on what’s next, how we got here and how all roads lead to Ireland.
Guests: Stephen Booth,Victoria Hewson
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We may be leaving the EU – but what should our mode of departure look like? Today we’re joined by the IEA’s Head of Health and Welfare Dr Kristian Niemietz, and Associate Director Kate Andrews – to discuss the pros and cons of the so-called ‘Norway Option’ – a form of Brexit under which the UK would leave the European Customs Union, but remain in the Single Market. The ‘Norway model’ refers to two key European organisations: The European Free Trade Association (EFTA) and European Economic Area (EEA). Norway (along with Liechtenstein and Iceland) is a member of both. And the idea has been gaining traction recently, with the government’s Chequers model looking unpalatable to EU negotiators, and the British public alike. Yet although Kristian is a proponent of the Norway option – it’s not quite as simple as that. He would probably back a Hard Brexit – provided we had a realistic chance of becoming a deregulating, free trading outside of the Single Market. Unfortunately, here the Zeitgeist is very much against free market types, he argues.
Guests: Dr Kristian Niemietz
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This week we’re joined by Dr Steve Davies, Head of Education at the IEA, to discuss one of the most hot-button issues in American politics – the right to bear arms. Interviewed by the IEA’s News Editor Kate Andrews, Steve gives us a history lesson on the Second Amendment, where the right came from, and what both sides of the debate get wrong. Steve argues that the right to bear arms came from a philosophy of classical republicanism or civic humanism, which means that in a self governing republic, all citizens have certain obligations and duties upon them, one of which is to use force against outsiders or a tyrannical state. In this sense, gun ownership is an individual right, but not a private right, making gun advocates and gun control advocates alike wrong in their approach to the issue. Steve discusses the Swiss-style system, which is one of the best examples of an armed militia, and how its gun laws differ from the United States. The pair also discuss what makes homicide rate and mass shootings more or less likely, with Steve arguing it has less to do with weapon proliferation, and more to do with societal norms and culture. Finally, Kate asks Steve the million pound question – does the UK need a Second Amendment?
Guests: Dr Steve Davies
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It seems the likelihood of leaving the EU with no deal is increasing — in fact it’s now 60 per cent, according to Trade Minister Liam Fox. Also on the up in recent weeks has been the proliferation of apocalyptic scenarios about what this might mean. Planes won’t fly, we’re told, there will be shortages of medicines and food - some claim that basic products like cheese, butter and even sandwiches could become “luxuries” after Brexit. At the same time, leaving without an agreement would require a tremendous amount of planning and preparation - and there are many legitimate concerns and warnings worth listening to. Today we’re joined by the IEA’s Chief Economist Julian Jessop and Senior Counsel Victoria Hewson, to discuss how the UK is preparations for such eventualities and how seriously we should take the dire warnings about what this would entail.
Guests: Julian Jessop,Victoria Hewson
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With power struggles within Parliament dominating the headlines, it’s all too easy to forget the bigger picture of our departure from the EU. Yet, with public consultations opening up about our first bilateral trade agreements, this debate is continuing – though perhaps not getting the attention it deserves. Today we’re joined by Shanker Singham, Director of the IEA’s International Trade and Competition Unit, and Senior Policy Analyst Dr Radomir Tylecote. They examine these consultations, what it could mean for business – and what the government should be doing to give firms more certainty and help them prepare for the future. Finally, they examine public opinion towards free trade. If recent polling is anything to go by, the public mood is decidedly anti-protectionist – just as it was in the 19th century, when free exchange triumphed over mercantilism in the battle of ideas.
Guests: Shanker Singham,Dr Radomir Tylecote
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Today we’re by John Myers, co-founder of London YIMBY, which stands for Yes In My Back Yard. The group campaigns for more homes in London and the rest of the UK. Interviewed by IEA News Editor Kate Andrews, John talks through the main obstacles that stand in the way of building more homes, and how the current system makes it near impossible for quantity and quality in the housing sector to go hand-in-hand. John explains how the severe imbalance between supply and demand for housing in the UK, means that desperation to become a homeowner takes precedent, and often the aesthetics of property go out the window. John talks us through some solutions to the housing crisis, including allowing homeowners to have more control over planning permissions on their own street. Finally, the pair discuss the perverse incentives in politics around the housing crisis, and what decisions could be made in Westminster to help more young people secure cheaper mortgages and cheaper rent.
Guests: John Myers
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Today we’re joined by the IEA’s Director General Mark Littlewood and Research Director Jamie Whyte on the 70th birthday of the National Health Service. Interviewed by News Editor Kate Andrews, they discuss how – despite all the praise around the NHS the past few weeks – the system is an international laggard on many key measures including health outcomes, survival rates and waiting times. Whilst cash injections may help in the short term, they will prove to be a waste of taxpayers’ money if structural changes are not made alongside investment. Far from celebrating the NHS this week, policymakers should be considering wholesale reform of the centralised system to improve patient care and save lives.
Guests: Mark Littlewood,Jamie Whyte
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Today we’re joined by the Advisory Board of our International Trade and Competition Unit, made up of world-renowned experts in trade policy – including Sir Lockwood Smith, John Weekes and Alan Oxley, who join us today, along with ITCU’s Director Shanker Singham. Interviewed by the IEA’s Madeline Grant, they give us a global view of Britain’s place in the world – and their prognosis of how our negotiations have progressed so far. They examine best practice in a range of different areas, including negotiating tactics, and discuss what an optimal free trade arrangement with the EU would look like. They also lay out some of the potential dangers and obstacles Britain may face in reaching this outcome. Finally, they consider how an independent Britain could advance the cause of free trade on the world stage.
Guests: Sir Lockwood Smith,John Weekes,Alan Oxley,Shanker Singham,Madeline Grant
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“Fake news” has been sweeping the nation – or has it? Today we’re joined by Kate Andrews, News Editor at the IEA and Head of Education Dr Steve Davies. Steve argues that, unlike what many in the mainstream media would have you believe, “fake news” is nothing new. In fact, trawling through history, we see that “Fake news” has been around in innumerable ways, shapes and forms, for centuries – even millennia. There is no one kind of fake news, and Kate and Steve examine some of the major distinctions between them, particularly in regards to intention and trust in mainstream. Finally, they examine how to spot fake news – and what we can all do to halt its dissemination and create a higher standard of debate.
Guests: Dr Steve Davies
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