Dr Eamonn Butler investigates the productivity report which argues the productivity in Britain is 20 % that of France of Germany. He points out what he feels the reason for this may be and looks to the poor education system and the increasing public sector as major issues.
Bailouts of banks are to blame for the huge budget deficits of Western nations, says Vuk Vukovic.Read more...
Michael Taylor discusses the potential for Bitcoin to change the world as we know it.Read more...
The future of the welfare state is now firmly at the centre of public debate. Its seeming inability to conquer poverty,despite an annual budget of £100 billion, provokes many to question whether a system designed in the 1940's is up to the challenges of today. The Adam Smith Institute argues that we need a completely different approach - replacing our collectivized state pensions and national insurance scheme with a system of personal lifetime fortune accounts, competitively provided.
Tim Ambler of the London Business School says that up to £1b a year is being wasted on unnecessary bureaucracy in the research councils - and that we would get better science at less cost by allocating the research budget directly to the universities.
Free market theories have been under scrutiny lately, many believe it is what caused the credit crunch and thus, the recession. However, Dr Eamonn Butler, underlines that this is not the case and that the free market thinkers will not go down with out a fight.
In this response to the Vickers report, financial experts Tim Ambler and Miles Saltiel argue that the report's findings fail to address the root causes of the financial crisis and would create another layer of bureaucracy. Instead, the government should allow the creation of new "Trust Banks" that would be safely run, reduce arguments for protection of riskier banks, and introduce new competition to the high street.
This is a transcript of the speech "Ayn Rand: More Relevant Now Than Ever" given by Lars Seier Christensen, Co-founder and CEO of Saxo Bank, at Goldmsith's Hall for the Adam Smith Institute's Ayn Rand Lecture on the 29th October 2013Read more...
Austrian School economists gave us the ideas of marginal utility, opportunity cost, and the importance of time and ignorance in shaping human choices and the markets, prices and production systems that stem from them. 'Austrian' economics has revolutionised our understanding of what money is, why economic booms invariably turn to damaging busts, why government intervention in the economy is a mistake, the importance of time and information in economic decision-making, the crucial role of entrepreneurship, and how much economic policy is just plain wrong. Eamonn Butler explains these ideas in straightforward, non-technical language, making this Primer the ideal introduction for anyone who wants to understand the key insights of the Austrian School and their relevance and importance to our economic situation today. Now updated with an additional chapter on Contemporary Austrian thinking.
Sale of the government's racehorse betting monopoly - the TOTE - cheap to a panel of racing interests would be a lucky windfall to wealthy owners but daylight robbery for the taxpayers who are supposed to own it, says Keith Boyfield. This ASI report led to a European Commission decision to block the government's cosy deal with the racing industry.