IEA Podcast

In this episode of the IEA Podcast, Lord Frost is joined by Kristian Niemietz and Andy Mayer to discuss the growing “Dubai phenomenon” — why increasing numbers of Brits are leaving the UK to build a better life abroad, and why politicians like Ed Davey are wrong to criticise them for it. The panel argues that rather than attacking those who leave, Britain should be asking why it can no longer offer the living standards, low crime, and economic opportunity that draws people to places like Dubai in the first place.The conversation turns to energy policy, where Andy Mayer welcomes the Government’s moves to implement the Fingleton Review on nuclear energy, making the case that a nuclear-led decarbonisation strategy would cost around £400 billion less than the current renewables-heavy approach. The panel challenge the Committee on Climate Change’s claim that net zero will cost Britain almost nothing, arguing the assumptions behind it are implausible and that nuclear power — with a 90% capacity factor versus solar’s 10-12% — is simply a far more reliable and affordable path to decarbonisation.Finally, the panel examines a troubling free speech case in Germany, where an IEA author was accused of posting a Nazi symbol for sharing a satirical image comparing Putin to Hitler. Kristian and Andy argue this reflects a broader erosion of free speech culture across the West — where laws designed for a pre-internet world are being weaponised in bad faith to silence political opponents, and where the only real safeguard is a strong cultural commitment to free expression that is increasingly absent.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Dr Lawrence Newport, co-founder of Looking for Growth and campaigner for UK economic reform. He maps Britain’s growth bottlenecks: slow, costly infrastructure, a planning and legal system that empowers frivolous objections, and bloated quangos. He also discusses transparency in student outcomes and the fight to publish data that would reshape how universities and students make decisions.

On the 250th anniversary of its publication, we revisit one of the most consequential books ever written: Adam Smith’s The Wealth of Nations. Published on 9th March 1776 — the same year as the American Declaration of Independence — Smith’s masterwork laid the intellectual foundations for modern economics, free trade, and the idea that individual freedom, properly channelled through law and competition, can transform entire nations from poverty to prosperity.Daniel Freeman is joined by Dr Mark Skousen, presidential fellow at Chapman University and author of The Making of Modern Economics and the new IEA paper The Genius of Adam Smith. Together they explore why Smith, a Scottish moral philosopher with no economics department to his name, produced ideas that still define debates about wealth, inequality, and the role of government today. From the invisible hand to the system of natural liberty, Skousen unpacks why Smith’s three grand principles — justice, freedom, and competition — remain as radical and relevant as ever.They also take stock of the state of the Adam Smith model in 2026, asking whether his vision of peace, easy taxes, and a tolerable administration of justice is advancing or retreating in the face of rising protectionism, trade wars, and renewed enthusiasm for state intervention. With Smith’s ideas increasingly under pressure from all sides of the political spectrum, this conversation is a timely reminder of what is at stake — and why, 250 years on, the debate Smith started is far from over.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Australia made global headlines when it introduced a social media ban for under-16s, but does the evidence actually support such a drastic step? In this episode, Callum Price is joined by IEA Public Policy Fellow Matthew Lesh to examine the claims driving the push to restrict young people’s access to social media platforms. They explore what the research really says about social media and children’s mental health, drawing on the work of leading academic sceptics who find the link far weaker than campaigners often claim.The episode takes a close look at Australia’s ban in practice, finding that millions of accounts have been deleted whilst VPN usage has surged and teenagers are simply finding workarounds. Matthew argues that bans of this kind create a false sense of security for parents, undermine open conversations between families about online safety, and strip young people of the very safe, age-appropriate accounts that platforms have developed. The discussion also turns to the UK’s own consultation on a potential under-16s ban, including the alarming prospect of extending restrictions to AI chatbots.Matthew and Callum argue that well-intentioned as these policies may be, they risk doing more harm than good. Rather than reaching for prohibition, the answer lies in parental responsibility, digital education, and making better use of the child safety frameworks that already exist under the Online Safety Act. With the Government now openly consulting on measures that could dwarf what Australia has done, the stakes for British children’s access to the open internet have never been higher.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Lord Frost, former minister known for trade and governance, and Kristian Niemietz, IEA editorial director and economic commentator. They dissect the Spring Statement’s lack of fresh policy, the OBR’s changing tone on taxes and jobs, risks of a Middle East-driven energy price shock and the debate over North Sea oil, plus shifting British pride and collapsing NHS satisfaction.

In this Institute of Economic Affairs interview, IEA Editorial Director Kristian Niemietz speaks with Jesús Armas, Venezuelan opposition activist and former IEA intern, about his imprisonment by the Maduro regime following the disputed July 2024 presidential election. Jesús describes being kidnapped by regime security forces, held in clandestine detention, subjected to torture, and kept in isolation for months, as well as the broader collapse of Venezuelan civil society under Chavismo.The conversation examines how Venezuela descended from a state with at least nominal civil liberties into a full dictatorship, drawing parallels with Soviet-era show trials and Hayek’s Road to Serfdom. Jesús explains how the opposition won the 2024 election with 70% of the vote, collected the tallies to prove it, and were then systematically persecuted for doing so. He also discusses the current political situation under Delcy Rodriguez, the prospects for democratic transition, Venezuela’s economic collapse including salaries below $1 a month, the destruction of the oil industry through nationalisation, and why 9 million Venezuelans have fled the country.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

The latest event in the Entrepreneurial Minds series brought together entrepreneur and mentor Simon Krystman in conversation with Lord Kamall for a wide-ranging discussion on entrepreneurship, innovation and the realities of building businesses. Designed to give aspiring founders and those interested in enterprise an honest insight into entrepreneurial journeys, the event explored the motivations, risks and lessons that shape successful ventures. Through an informal interview format followed by audience questions, attendees heard first-hand reflections on decision-making, resilience and the importance of learning through both success and failure.Krystman reflected on his unconventional route into entrepreneurship, challenging the assumption that entrepreneurs are simply “born” with innate talent. Drawing on early experiences founding a technology business in the 1990s, he described the risks of leaving secure employment with little preparation, the setbacks encountered when initial ideas proved unworkable, and the rapid pivot that ultimately enabled growth. The discussion highlighted practical themes including idea validation, customer demand, scaling challenges and the distinction between enjoying entrepreneurial creation versus managing large organisations.The conversation broadened into wider policy and social questions, including regulation, access to investment, community entrepreneurship and the cultural attitudes that shape innovation ecosystems. Audience discussion touched on philanthropy, local enterprise initiatives and comparisons between British and American approaches to risk and failure. Krystman emphasised mentorship and evidence-based validation as critical tools for founders, arguing that understanding customer need, rather than pursuing investment alone, remains the central determinant of entrepreneurial success.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Lord Frost and energy analyst Andy Mayer join host Callum Price to dissect Reform UK’s latest economic pitch, weighing up Richard Tice’s proposals for a Great Repeal Act and a sovereign wealth fund built from public sector pension pots. While the panel finds much to welcome in Reform’s supply-side instincts, including scrapping the net zero legal target and reopening the North Sea, they warn that the plan contains a fundamental contradiction: you cannot credibly promise to burn red tape whilst simultaneously reaching for tariffs, protectionism, and “Buy British” mandates.The conversation turns to energy bills, where Andy Mayer delivers a forensic takedown of the Government’s claim that falling prices represent genuine progress. He argues that shifting green levies from household bills onto general taxation is an accounting trick, not a saving, and that forcing vast amounts of renewables onto an already strained grid is making energy both more expensive and less reliable. The panel agrees that without a serious commitment to nuclear power and a halt to the clean power drive, the UK risks sleepwalking into an energy crisis of its own making.The episode closes with a pointed debate on the Conservative Party’s push to ban social media for under-16s, with both guests pulling no punches. They argue that exploiting bereaved parents at a press conference to push poorly evidenced legislation is cynical and reckless, that hard cases make bad law, and that banning children from the internet does nothing to address the real causes of poor mental health. The broader concern, as Lord Frost puts it, is a political class that simply does not trust ordinary people to think for themselves.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Your student debt keeps growing even as you pay it off. Sound familiar? Callum Price breaks down why the student loan system is failing students, taxpayers, and universities alike, and why tinkering with interest rates will never be enough. The real problem is that universities are paid to recruit students, not educate them, creating a system with completely misaligned incentives.The solution requires genuine structural reform: make universities financially responsible for the degrees they offer. If universities had to fund degrees themselves, they would have a real incentive to ensure graduates land well-paying jobs. Lift the tuition fee cap, allow proper market competition, and let third-party funders into the space.But fixing universities alone is not enough. The Government’s Employment Rights Act, National Insurance hikes, and minimum wage increases are making it harder and more expensive for businesses to hire young people. Until that changes, even the best-educated graduates will struggle to find the jobs that make their degrees worthwhile.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Lord Frost, IEA Director General, joins energy analyst Kathryn Porter, author of the IEA’s landmark new report “Just Stop Oil?”, for a wide-ranging discussion on why oil and gas remain indispensable to modern life. Porter argues that the entire premise of the “just stop oil” movement is born from privilege, ignoring the fundamental role hydrocarbons play in medicine, agriculture, and technology. From hospitals built on petrochemicals to Sri Lanka’s fertiliser disaster, the case against abandoning fossil fuels is forensically made.The conversation shifts to Britain’s North Sea, where both speakers argue the Government is actively sabotaging a domestic resource. Porter warns that without domestic extraction, Britain will simply pay Norway to sell its own oil and gas back to it, while importing higher-carbon hydrocarbons from elsewhere at a net fiscal loss. Frost reflects on why this “collective madness” has gripped Western governments simultaneously, and what forces may finally be turning the tide.Rounding off the discussion, Porter outlines a looming gas supply crisis, the fragility of energy interconnectors with Europe, and why energy nationalism is not just predictable but legally and politically inevitable. Both speakers see signs of a shifting debate, with the IEA’s own research receiving greater media traction than ever before. The supertanker, they suggest, may finally be beginning to turn.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe