In this essay, Professor Kenneth Minogue puts in context the claim that events in Eastern Europe leave the genuine blueprint of socialism quite untorn. He argues that it represents just one more example of a familiar human frailty, the sad but common unwillingness of human beings to give up their most cherished beliefs and prejudices.
The following publication is a summary of key policies toward pharmaceuticals in three European countries, Britain, France and West Germany, in 1989. Four key policy areas are covered: pricing and reimbursement, registration, research and development and patents. Some reference is made to pharmaceutical policies in other European countries where this is thought to be particularly relevant or illuminating.
It provides an overview of key policies and may be regarded as a primer for non-experts.
There is a growing consensus in Britain that urgent membership of the Exchange Rate Mechanism of the European Monetary System is required to cure Britain's inflation and to secure the re-election of the Conservatives at the next election. The argument put forward by proponents of membership is, however, flawed and many of those who argue for membership have secondary reasons unconnected with sound analyses of the problems facing the British economy. Most of these arguments skim swiftly over the economic reasons for membership to concentrate on the political or the future of the EEC. And, indeed, many proponents of ERM are also unapologetic supporters of full monetary union. It is interesting that the clamouring for membership of the ERM is only now being put forward as a panacea for our inflationary problems. It was not so mooted as a cure for the inflation faced by Britain in the early 1980s. Is it a coincidence that the current calls for membership of the ERM occur at the same time as those in favour of full monetary union are pressing ahead on the next stage of their plan?
This paper seeks to scrutinise the major arguments put forward in favour of ERM membership - whether it be early membership, or even membership "when the time is right". It argues that membership of the ERM would not solve the problems faced by Britain. It seeks to establish this by concentrating on the following areas:
- by exposing the flaws in the economic argument in favour of joining the ERM;
- by highlighting the political implications of membership.
Prominent academics, journalists and politicians highlight the historical contribution of Adam Smith and the role of his ideas in the shaping of modern economic thinking. Includes contributions by Leo Rosten, Professors William Letwin and Edwin G West who speak to The Wealth of Nations and The Theory of Moral Sentiments specifically, Richard Vernier, Russell Lewis, writing about Adam Smith today, Rt Hon Nicholas Ridley, Professor Norman Barry with a piece about the ethics of capitalism, and Dr Jeremy Shearmur.
Read the full essay collection here
In approaching the decisions that have to be made in the forthcoming duopoly review, this paper argues that the UK should adopt the same approach that it has to other industries as they move towards more effective competition. The reduction in intervention, and the increased opportunity for market forces to shape companies throughout British industry, have transformed many under-performing sectors. They will be no less effective in the telecommunications sector.
Within this paper, Dr Madsen Pirie and Dr Eamonn Butler examine the problems of residential care and care in the community.