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Adam Smith Institute
The Adam Smith Institute is one of the world’s leading think tanks. Independent, non-profit and non-partisan, it works to promote libertarian and free market ideas through research, publishing, media commentary, and educational programmes. The Institute is today at the forefront of making the case for free markets and a free society in the United Kingdom.

Adam Smith Institute

John McDonnell does really have to say this, doesn’t he?

We're reminded of a bit of ancient history concerning scientific socialism here:Britain is too obsessed with economic “growth for the sake of growth”, Shadow Chancellor John McDonnell has claimed.High taxes and spending are part of the solution, he said, but cannot solve what he calls “fundamental” problems in the economy.Redistribution only “made sense when the economy was growing and creating relatively secure, relatively well-paid work”, the shadow chancellor said.He said the Government is...

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Objecting to Objections to NGDP Targeting

Russell Lynch, writing in the Evening Standard, has raised two standard objections to NGDP targets, and they are valid concerns. "One advantage of the current regime is that it is broadly understandable to Joe Public, who’ll most likely grasp Mandarin before nominal GDP."I sympathise with this point and have previously advocated replacing the CPI target with a CPIH to bring the UK in line with other European countries. But at some point we should take a step back and ask whether using less...

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Here’s that pesky environmental Kuznets Curve again

We don't have to go far to find people telling us that China's gross pollution is the future fate of us all. Capitalism and development lead to air that chokes, water that poisons.And that just isn't how it works at all now, is it? That gross pollution, like our own Industrial Age, is a stage which is passed through. A simple and useful description of the point being this about China's very pollution: “In the past, we made money first and could only talk about the environment later. But it’s...

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IVF is the final frontier of capitalism?

It is possible, we suppose - if you squint very hard and define yourself carefully - to insist that in-vitro fertilisation is indeed that final stage of capitalism. That's not the way we think this is being said:Kennedy recalled going in for treatment in a state of “blind panic and emotional chaos”, which she said was common for most people.“It is a very charged time and I came out of the experience feeling brutalised. It was nothing physical, it was the attitude of the private sector … It...

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Corbyn’s thinly veiled threat to the press should worry us all

Yesterday the Labour leader posted a video to his social media accounts. Dogged for days by accusations he was complicit in passing information in multiple meetings to the Cold War Czechoslovak agent Jan Sarkocy, and having dodged questions on the topic by the press, Corbyn (or Agent Cob as the Statni Bezoecnost called him) decided he would not answer the questions but attack the press that were asking them.  It makes for a chilling watch. Singling out The Sun, The Mail, The Telegraph, and...

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Collective agreements see the rot setting into Denmark’s dentists

Dentist care is one of the few things Danes actually have to pay for (or adults have to at least). This might puzzle you, after all Denmark is well known around the world for its free healthcare. In fact, it puzzles many Danes as well. However, the fact that Danes have to pay for it isn’t really the core of the problem - the concern is that it’s so gosh darn expensive.Take my mother for instance. She is due to have two crowns inserted. If she is to have it done in Denmark the price would add...

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The basic problem with foreign aid

One of the slightly odd things about the modern world is that we've all become rather better at emergency aid and rather worse at development aid.Emergency aid now tends to work with the grain of the economy. For example, in times of famine send in money - then let the market, incentivised by the cash, deliver the food. Instead of the ridiculous idea of loading ships with food which takes 8 months and more to arrive, neatly not feeding the starving but still destroying the market for the next...

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Why do neoliberals support a Negative Income Tax?

This morning, I spoke at the LSE’s Citizen's Basic Income Day on the neoliberal case for a basic income (or ideally a Negative Income Tax). I’ll be tweaking the presentation for our regular sixth form seminars, but below is an approximation of my remarks (thanks to our former Executive Director Sam Bowman for laying the groundwork):Neoliberals support an efficient welfare state that guarantees a minimum standard of living for every citizen: ensuring that wealth created by globalisation and...

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Polly insists Tory NHS policy is working and working well

This is not, of course, what Polly Toynbee thinks she is saying yet it is still so. Her claim is that recent Cameron/Conservative policy concerning the National Health Service is working and working well:After Brexit, David Cameron’s second worst legacy is his assault on the NHS. His explosive 2012 Health and Social Care Act was designed to privatise it into small pieces, while an eight-year funding droughtyields new worst ever figures every month. The wonder is that the service still treats...

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