Adam Smith Institute

Hi! I'm James Lawson and I've just begun a week-long internship here at the Adam Smith Institute.

I currently attend Hampton School and I'm studying Further Maths, Economics and History; I've already completed French. My interest in free markets has developed as a result of my studies of Liberal England and economics. I've steadily become ever more cautious against excessive government intervention, while supporting a need for more freedom. I recently attended Freedom Week in Cambridge where I had a great time meeting others who held a similar interest and heard some brilliant speakers.

I wish to study an economics based degree at university and have been focusing towards PPE (philosophy, politics and economics).

After three wonderful months at the Adam Smith Institute, it is time for me to go back to the United States, marry my fiancé, complete my last year of university, and then head to law school. In the words of Paul (the Saint, not the Ron):

I have fought a good fight, I have finished my course, I have kept the faith (2 Timothy 4:7).

Ok, that's all a bit dramatic.

In all reality though, it has been a pleasure working here and I will miss London and the great friends I have made. If I have learned one lesson during the last three months, it is that we can never be complacent. Political demagogues will always promise greater prosperity to the masses by subsidizing, mandating, and taxing.

This is why those of us who want to take responsibility for our own lives must continuously work to keep the markets free, the taxes low, and the government small. Over the next few years, capitalism may indeed face its stiffest challenge in decades. Globalisation is changing the world landscape, and although it promises great benefits, many people are afraid of the future. The oil crisis and global warming hysteria will undoubtedly fuel the fire for greater government intervention.

So let's stick to our guns and continue our fight for freedom and liberty!

Hi! I’m Kat and I've just started a one-week internship at the Adam Smith Institute.

I study Politics, History, French and Drama at Woodhouse College in North London.
 
I enjoy singing – which explains why I have been a member of the Finchley Children’s Music Group for 5 years. On Saturday, we did our last concert of the summer, singing pieces commissioned for us by James Weeks & John Pickard. I love skiing and travelling but, in general, I'm not a big sports fan.

Finally, it is likely that I will take a gap year before going to university to "see the world".

We are joined this week by a new intern, Cate Schafer.

Cate is a third-year student at Hamilton College in central New York State. She hopes to complete a double-degree in Economics and Psychology and then continue on to graduate school for behavioural economics.
 
Cate works for Hamilton’s Burke Library reference department doing research of various types for students and faculty. She is also a member of the women’s volleyball and basketball teams at school.

She enjoys all sports and spends considerable time on ESPN.com (not during work hours, of course) and in front of the television cheering on her favourite teams.  Her other interests include baking dessert, travelling and meeting new people.
 
ASI is excited to have Cate on board for her research experience and will much appreciate her affinity for baking if goodies happen to make appearances.

Dr Madsen Pirie spoke to a group of University of Miami students earlier this week at the ASI’s Westminster offices.  He spoke about the problems raised when private firms were brought in to run public services.  Extra safeguards were needed, he suggested, to make sure the whole process was transparent and fully subject to independent scrutiny.  The lack of expertise on civil servants in some areas such as IT had led to some dreadful outcomes, including delays, cost over-runs and inadequate results.

The most contentious issue, and the one which interested the students most, was the use of private firms to perform what were, in essence, military duties in combat zones such as Iraq and Afghanistan.

...Dr Eamonn Butler writes that we have all become slaves of the database state: "Watch out, the Gestapo are about".

Click here to read the article.

THINK TANK OFFERS $15,000 PRIZE FOR JOURNALISTS

London, 1 April 2008 – For the seventh year, International Policy Network (IPN), a London-based think tank, is accepting submissions for its annual Bastiat Prize for Journalism.

The $15,000 prize fund will be divided among First, Second and Third placed authors. The Prize is open to writers anywhere in the world whose published articles eloquently and wittily explain, promote and defend the principles of the free society, including property rights, free markets, sound science, limited government and the rule of law.

Since 2002, the Prize has been inspired by the 19th-century French philosopher Frédéric Bastiat and his compelling defence of liberty. Bastiat's brilliant use of satire and allegory enabled him to relate complex economic issues to a general audience. In keeping with his legacy, Bastiat Prize entries are judged on the intellectual content of each article, the wit, eloquence and persuasiveness of the language used, the type of publication in which it appeared and the location of the author.

Last year, the competition attracted over 280 entrants from more than 60 different countries.

Previous judges have included Lady Thatcher, James Buchanan and Milton Friedman. This year's panel includes the former British Chancellor of the Exchequer, Lord Lawson of Blaby, and Amity Shlaes, syndicated Bloomberg columnist, a senior fellow at the Council on Foreign Relations and a previous Bastiat Prize winner.

Submissions – in English – will be accepted from 1 April until 30 June 2008. (Postal entries must be postmarked 30 June or before). Submissions must be in the form of up to three articles totalling no more than 4,500 words, published between 1 July 2007 and 30 June 2008 in recognized news publications. Finalists will be invited to a ceremony in New York in October 2008, where winners will be announced.

Last year’s Bastiat Prize winner was Amit Varma, an editorial columnist for Mint (a joint venture between the Wall Street Journal and India’s Hindustan Times). Second and third prizes went to Clive Crook, senior editor of the Atlantic Monthly, and Jonah Goldberg, Contributing Editor to National Review and a syndicated columnist. Previous winners include Robert Guest of The Economist, Brian Carney of The Wall Street Journal and Sauvik Chakraverti of the Economic Times (India).

An online submission form, rules, judging criteria, and articles written by previous winners can be found at IPN's Bastiat Prize website: www.bastiatprize.org.

Queries to Marc Sidwell, Bastiat Prize Administrator: telephone +44 207 836 0750 or email This e-mail address is being protected from spambots, you need JavaScript enabled to view it .

Jason is a fourth year political science student at Brigham Young University, focusing on international relations. He will start law school after completing his undergraduate studies next April.

Throughout the last few years, Jason has worked in various jobs relating to politics and economics. During the last year, he worked as an international relations teaching assistant, as the legislative intern with the Governor of Utah, and as a research aide. He also spent two years in Brazil from 2004-2006.

His interests include travelling and sports, mainly basketball and American football, although he developed a love for the beautiful game while living in Brazil.

He looks forward to promoting the free-market principles of the ASI.
 

Friend of the ASI Stuart Wheeler has passed the first hurdle in his noble endeavour to force the government to hold its promised referendum on the Lisbon Treaty (i.e. EU Constitution). On Friday, Mr Justice Owen ruled in favour of having the decision judicially reviewed in the High Court. The Lisbon Treaty, signed by 27 EU leaders in Lisbon in December, is intended to replace the European Constitution that was rejected by French and Dutch voters in referendums in 2005.

With the increasing loss of sovereign democratic power to the unaccountable European supranational bureaucracy, Mr Wheeler is fighting on the side of all that value legitimate democracy. It is time that the relations in Europe were rooted in national democracy, with power resting in votes of the people in each country. There are strong reasons to be close to other countries of Europe, but relations should not be based upon centralising legal and political powers in Brussels, but upon respectful diplomatic relations and the concord of free trade.

There are two things you can do right now to show your disgust at the government’s duplicity. The first is to contribute to Mr Wheeler’s campaign; the second is to sign this petition to the government initiated by Nigel Farage MEP.
 

The date for the Mont Pelerin Society's 2008 Hayek Essay Contest for young people is nearing its deadline. There are cash prizes, plus free places at the Society's next meeting in Tokyo this September.

The Monty Pelerin Society was established in 1947 by libertarian scholar (and later, Nobel economist) F A Hayek as a meeting place for intellectuals who support the principles of liberty. As in past years, the essay contest named after him is only open to all individuals 35 years old or younger.  Entrants should write a 5,000 word (maximum) essay in English.  Essays are due on April 30, 2008 and winners will be announced on June 15, 2008.

Participants should send electronic versions to This e-mail address is being protected from spambots, you need JavaScript enabled to view it and hard copies should be sent to The Mont Pelerin Society, P.O. Box 7031, Alexandria, Virginia, 22307, USA. For more information, visit the Mont Pelerin website at www.montpelerin.org. The link to the essay page is located on the left side under the title "Hayek Essay Contest."  The section includes this year's essay question and prize information.

The blog's comments function has been malfunctioning, and has been temporarily disabled while we upgrade it.

Hopefully it should be up and running again soon. 

The statue of Adam Smith which will soon go up in the historic heart of Edinburgh is taking shape. It's currently in the workshops of Morris Singer, the specialist art founders, where sculptor Alexander Stoddart has been adding some finishing touches. According to Stoddart it is one of the best castings he has ever worked with, faithfully reproducing every detail of his original model.

The statue shows Smith in later life – he spent the last twelve years of his life in Edinburgh, where he had been appointed a Commissioner of Customs, which might explain his slightly stern look.

Behind him is a ploughshare, modelled from a contemporary plough in the Scottish Farming Museum, which reminds us of an economic doctrine from which Smith made great advances – the physiocrat doctrine that all wealth stemmed ultimately from agriculture. To his front is a beehive, a symbol of industry, topped by a globe on which Smith rests his hand - made invisible by his academic gown. When viewed from the High Street, Smith's academic dress will dominate, reminding us of Smith the philosopher; and behind him we will see St. Giles's Cathedral, complementing the evocation of eternal ideas. Viewed from the other side, Smith's everyday wear dominates, reminding us of Smith the economist; and behind, the City Chambers (on the site of the office where Smith used to work) complements the evocation of the changing, current ideas of economics and politics.

There are even references in the work to Smith's support for trade with America. His neckware is modelled on that worn by Thomas Jefferson, his wig on a likeness of George Washington.

The most likely date of the unveiling is Friday 4 July, but as yet this has not been confirmed. We will post further information as and when it becomes available.

We are delighted to announce that the first twelve blogs in our 'Common Errors' series are now available in Spanish, on a dedicated website run by fellow free-marketeer Ramón Mier. Click here to see the 'Errores Communes'.