Miscellaneous Tom Clougherty Miscellaneous Tom Clougherty

A Beginner’s Guide to Liberty

4615
a-beginners-guide-to-liberty

Our latest publication – A Beginner’s Guide to Liberty, edited by Richard Wellings – is now available to buy and download from the publications section. This is a project I’m very proud of. It’s a short book, only about 100 paperback pages in total, but it provides an extremely good introduction to some of the most important ideas in political and economic theory. The guide consists of the following ten chapters, all of which are jargon-free and written in clear, simple language:

  • The importance of liberty by JC Lester
  • How markets work by Eamonn Butler
  • Free Trade by Daniel Griswold
  • Taxation and government spending by Daniel J. Mitchell
  • Property rights by Karol Boudreaux
  • Why government fails by Peter J. Boettke & Douglas B. Rogers
  • Sex, drugs and liberty by John Meadowcroft
  • Welfare without the state by Kristian Niemietz
  • Banking, inflation and recessions by Anthony J. Evans
  • The role of government by Stephen Davies

The original idea behind this book was to produce an easy-to-read guide to the things people need to know about free markets and individual liberty, and I really think that A Beginner’s Guide to Liberty fulfils that ambition. Enormous credit must go to Richard Wellings for this – he has assembled an exceptional team of authors, and done a great job editing the book into a cohesive whole. His remit was to produce something that was accessible to sixth-formers but interesting for everyone, and I’d say he has succeeded.

Our main ambition is that this book is read as widely as possible, so we are making it available to download for free. However, please also consider buying a hard copy – whether for yourself, or a friend or relative who would benefit from reading it! You can buy them directly from us for £10, including postage and packaging, and in doing so make a small contribution towards our future work.

Read More
Miscellaneous Charlotte Bowyer Miscellaneous Charlotte Bowyer

Frameworks threaten discovery

4609
frameworks-threaten-discovery

Since the 1980s, universities’ research funding has been allocated through periodical Research Assessment Exercises – in which research submitted by each university is ranked by a specialist, peer review panel. However, this is changing, with the government set to reward funding through a Research Excellence Framework (REF). Under this system, a quarter of each institution’s funding will depend on the “economic, social, public policy, cultural and quality of life" impact of their research.

Like most government plans, this sounds ever so well meaning. However, also like most government plans, it is likely to have unintended consequences. As Educators for Reform have pointed out, when new information is discovered, it is often unknown what purpose it may serve. X-rays, liquid crystal displays and Google’s search algorithm all came from abstract, blue sky research, and their productive use in society was far from immediately clear. By encouraging academics to constrict their areas of research or direct them towards an ‘objective’ goal, we could miss out on the discovery of important new knowledge. This framework would also pose the risk of a brain drain, where frustrated academics move to abroad to where there are fewer constraints on research opportunities.

The government should not be meddling in the progress of science and academia. If funding is to come from the state it shouldn’t be allocated on the basis of supposed economic and social development, but by an analysis of the quality of research, as decided by peer review. When will governments learn that the best outcomes tend to ensue when experts in their own fields are left to order things as they deem best?

Read More
Miscellaneous Wordsmith Miscellaneous Wordsmith

Circular financing

4595
circular-financing
Other countries – such as the United States - have also used QE, but not to the same extent as Britain. Since March, the UK has almost tripled the size of its "monetary base". We've then used more than 99pc of that freshly-minted money to buy our own sovereign debt so Mr Brown and his ilk can keep spending, in a last-ditch attempt to prevail at the polls. As a result, the UK is now being kept afloat by a bizarre, Zimbabwe-style form of circular financing that will ultimately explode in our faces.

Liam Halligan, 'Labour's dishonesty is leading us down the road to sovereign default' Telegraph.co.uk

Read More
Miscellaneous Dr. Madsen Pirie Miscellaneous Dr. Madsen Pirie

First commercial spaceplane

4560
first-commercial-spaceplane

The private sector took another step towards space with Monday's unveiling of Burt Rutan's rocket-plane, SpaceShip Two. Rutan is the designer who won the Ansari X-Prize of $10m by sending a private plane twice into space within a fortnight. He has pioneered new technologies, including a fuselage made from composite materials, and featuring a novel re-entry technique in which the wings fold so the spacecraft 'feathers' like a shuttlecock. Rutan's vehicles have been adopted by Virgin Galactic to carry its fare-paying passengers on sub-orbital hops into space.

The ship carries two pilots and six passengers, and gives them the chance to see the earth from space, and to experience several minutes of weightlessness as they float around the cabin. It taps a potentially huge market for those prepared to pay for the once-in-a-lifetime experience. Space has until now been the prerogative of governments and their space agencies. Space Adventures broke that monopoly, much to NASA's original distress, by sending paying customers up to stay at the International Space Station as part of the Russian space programme. But only those prepared to spend $25-$30m had the opportunity. Soon it will be open to those who can afford $200,000 for a short flight, and as is the case with such things, the price will come down. Space is too big and too beautiful to be left to governments, so this has to be seen as a most welcome development.

Read More
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Blogs by email