Adam Smith Institute

It’s time to say goodbye to the ASI office after a wonderful few weeks. I have to say thanks to all the guys in the office for being so friendly and welcoming. I’ve learnt a lot and really hope to keep contributing to the ASI blog in the future. 

It’s definitely worth bearing in mind the value of the work the ASI do. Just a quick scan of the top stories from the last few days are enough to remind you how important it is to keep making the case for liberty, property rights and voluntary exchange – the introduction of ID cards for foreign nationals, calls for stronger international regulation of the financial services sector and the future of public service broadcasting to name but a few.

In these somewhat economically uncertain times it is all the more important to point out the value of free markets and the pitfalls of excessive government regulation - in particular of knee-jerk reactions against the so-called ‘excesses’ of capitalism. Something tells me things might get worse before they get better.

Good luck!

Hi! I’m Andy and I have just started my gap year job with the ASI. Previously I attended Westcliff High School in Essex, completing A levels in politics, economics, maths and geography. After working here I plan to go to university to study PPE. I have always held libertarian views and so am greatly looking forward to working within the leading free-market think tank.

My hobbies include running, squash and tall ships sailing (I am a Watch Leader with the London Sailing Project, based in Southampton).

I am hoping that this opportunity will allow me to expand my views on politics, whilst contributing to many current debates.
 

Dr Eamonn Butler, Director of The Adam Smith Institute, has been in great demand of late. Yesterday he was on BBC Radio 5, BBC World TV, the World Service twice, Hungarian Klubradio and PM on Radio 4. Mostly up for discussion was the state of the global economy, with Dr Butler rightly arguing that global capitalism is not dead and that governments are mostly to blame for the current crisis. If you happened to have missed him, you can listen to him 2h 2m in on the Radio 5 Breakfast Show here (worth it just to hear the lunacy coming out of Ken Loach's mouth); or you can read recent blogs on the same topics here and here.

I am coming to the end of my two week stint at the Adam Smith Institute, and I must say that it has been a very interesting, thought provoking, and enjoyable experience. I have learnt a great deal, and I think subconsciously, I have learnt more than I can put my finger on, just through being in this creative and intellectual atmosphere.

After the hurdle of writing my first blog, I enjoyed contributing and it allowed me to concentrate on issues from a libertarian point-of-view. My next challenge will be fighting the free-market corner in my last year at Sussex University, which is largely dominated by more…left-wing opinions.

Thank you for having me, it has been a great experience and a pleasure working with you.

Chris Tame was a lifelong, committed and effective campaigner for liberty.  His memory is honoured by an essay prize of £1,000 organized by the Libertarian Alliance and sponsored by the Promis Unit of Primary Care.  Entries (of 3,000 words excluding notes and bibliography) have to be submitted by October 10th 2008.  The title for this year's competition is: "Can a Libertarian Society be Described as 'Tesco minus the State'?"

Full details and rules can be seen on the Libertarian Alliance site here, but basically essays must be original and unpublished, and in English.  They should be sent to Sean Gabb ( This e-mail address is being protected from spambots, you need JavaScript enabled to view it ) in MS Word format, and sent in hard copy to The Libertarian Alliance, Suite 35, 2 Lansdowne Row, London W1J 6H, UK.

The winner will be announced at the LA Conference in the National Liberal Club on Saturday 25th October 2008, and entries will be published by the LA.  Start thinking and start writing, and best wishes!

I've been told that the right-column of the website is not displaying properly in Internet Explorer 6 for Windows. Has anyone else encountered this problem? I've tried Internet Explorer, Firefox and Safari here and haven't been able to spot any problems. You can comment below or email This e-mail address is being protected from spambots, you need JavaScript enabled to view it .

Who was Adam Smith? And why is he still important? My article on the subject has, I'm glad to see, been translated into French – which I 
hope might bring Smith's ideas to a group of countries that is in desperate need of them: http://www.unmondelibre.org/node/470.

This years Freedom Week  was a great success, enabling a group of around 30 promising students to meet lecturers and representatives of think tanks, have in depth discussions, and form an informal network which will be invaluable in the future advancement of the principles of freedom.   The feedback suggests that Freedom Week may have constituted a life changing experience for a number of students. Some have already started writing articles based on what they learnt, and setting up pro-freedom student societies. Others have asked for help in how to promote free-market ideas in their future careers.
 
Depending upon whether Freedom Alliance can raise sufficient funds, the next Freedom Week will be 13 - 17 July 2009.  A provisional booking has been made to use Sidney Sussex College. Stalwart Freedom Week lecturers Dr. Mark Pennington, Dr. Steve Davies, and Dr. Craig Smith have agreed to attend again.

For more information about the 2009 Freedom Week – or to find out how you can support and sponsor this really worthwhile exercise – visit the website or contact Jean-Paul Floru at: Freedom Alliance, 109 Vincent Street, London SW1P 4BA or by email at This e-mail address is being protected from spambots, you need JavaScript enabled to view it .

My academic economist friend in Madrid, who goes by the splendid name of Jesus Huerta de Soto, has just advised me of a new course that begins in October under his supervision at the King Juan Carlos University in the Spanish capital. It's a Master's degree in The Economics of the Austrian School.

The two-semester (one academic year) course follows the EU norms that are now accepted by the Spanish government and allows students the possibility of upgrading from a Master's degree to a PhD in Austrian Economics – one that would be recognized throughout the European Union. As far as I am aware there is no precedent for this in the world.

The programme covers items such as the Austrian methodological approach, the role and dynamism of markets, the Austrian theory of the business cycle, monetary theory, public policy, environmental issues and – delightfully – the impossibility of socialism. Great stuff.

The University's website will allow students to register but there is more here and you can email the prof himself at This e-mail address is being protected from spambots, you need JavaScript enabled to view it or call him on +34 91 488 7743 / 8029.

YBF - Young Britons' Foundation – has announced details of its fifth and largest YBF activist training conference. YBF5 as it's called, will be held at Wellington College, Berkshire, from Friday 24 October to Sunday 26 October. Confirmed speakers include Tory Local Government spokesman Eric Pickles MP, ace Cameroonie Ed Vaizey MP, libertarian Douglas Carswell MP, Eurosceptic MEP Daniel Hannan, taxpayers' friend Matthew Elliott, newshound Jonathan Isaby, blogger Iain Dale, and the Adam Smith Institute's own Eamonn Butler. 

Places are limited and it's first come, first served. Cost for the three days and two nights residential course - including meals, tuition, materials and accommodation is £95 per person, or £75 for students in full-time education. Details on facebook here – email This e-mail address is being protected from spambots, you need JavaScript enabled to view it to reserve a place.

Hi! My name is Callum Adams-Carr and I’ve just started a week-long internship here at the ASI. I currently attend Hampton school, studying Spanish, Economics and Maths, having completed a French A-level last year.

My main interest is in Economics, and I would like to study Politics, Philosophy and Economics at university, my preference being Magdalen, Oxford. I’m currently writing a 5,000 word essay on free trade’s role in the development of Ethiopia, I thought this week among esteemed economists would be very helpful.

My other interests are tennis, football, cycling, the Nintendo Wii and trying to get a job as a lifeguard.

Hello - I’m Yohan Sanmugam and I am starting my two-week internship here at the Adam Smith Institute.

At 18 years old, I have just finished at Westminster School where I studied Maths, Further Maths, Economics, History and Spanish. Fingers crossed for results day, the 14th. In October, I will be starting my degree in Economics at Christ’s College, Cambridge. And after that I don’t know - many have warned me not to sell my soul to the City. But I am torn between that, politics and some sort of civil service job (diplomat, economist).

Outside of my core education, I would say my greatest interest is Politics, which explains why I wanted to work here and understand more about public policy. And after that, The Sopranos.

The late Nobel economist Milton Friedman was born on this day in 1912. A great communicator and cheery personality, he revived the idea that inflation is at heart (he would say 'always and everywhere') a monetary phenomenon. In other words, if you discover inflation, you can be pretty sure that it stems, not from the rising price of oil or whatever, but from governments being profligate with our money. He was also a great believer in small government and personal freedom. Here are a few of his bon mots:

"The market gives people what the people want instead of what other people think they ought to want. At the bottom of many criticisms of the market economy is really lack of belief in freedom itself."

"I am favour of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible."

"Inflation is the one form of taxation that can be imposed without legislation."

"Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government."

"The problem of social organization is how to set up an arrangement under which greed will do the least harm: capitalism is that kind of a system."