IEA Podcast

Join IEA Managing Editor Daniel Freeman as he explores how trade tariffs shaped America with Professor Alexander Klein. In 1870, the US had a massive 45% average tariff on imported goods - compared to just 2% today. Professor Klein breaks down why the US adopted such high tariffs after the Civil War, and what this history tells us about current debates around trade protection. From intense lobbying battles between Northern and Southern states to surprising findings about productivity, this conversation challenges common assumptions about America's economic development. In this wide-ranging discussion, Freeman and Klein examine how even successful American companies pushed for trade protection, using the argument "other industries get tariffs, why shouldn't we?" Klein explains why high tariffs actually reduced productivity across most industries, despite creating more jobs - a tradeoff that's still relevant in today's policy debates. They explore how America's huge domestic market, natural resources, and waves of immigration were more important to its industrial success than trade barriers. As politicians today call for higher tariffs to protect American jobs, this historical perspective offers important lessons. Klein's research shows how trade protection can become politically addictive, even when it doesn't help economic growth. He also highlights the dangers of rising trade barriers during economic crises, drawing parallels between the Great Depression and current debates about globalization and industrial policy. 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

In this GB News interview, Institute of Economic Affairs Executive Director Tom Clougherty discusses Britain's economic challenges and the need for new radical ideas to overcome them. Addressing years of high taxes and low growth, he explains how many young Brits in their twenties and thirties have never experienced real economic growth, with incomes remaining stagnant since 2007.Rather than pointing to a single solution, Clougherty argues that Britain needs hundreds of changes across the economy. He discusses the need to reform energy policy, housing, and what he calls a "bureaucratic state" that's suffocating growth.Clougherty also discusses the IEA's role and mission to develop the ideas we need to overcome the greatest challenges we face today. The IEA will be at the forefront of the drive for fresh thinking and radical change required to return economic dynamism back to Britain. 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

In this episode, we explore Ed Davey's proposal for the UK to rejoin the EU customs union. Reem Ibrahim, Tom Clougherty, and Kristian Niemietz demonstrate why this approach would be a backward step even from a Remainer perspective, highlighting how it would give Britain "the worst of all worlds" while restricting its ability to pursue independent trade deals. Their analysis reveals why the customs union was consistently the least beneficial aspect of EU membership for the UK, contrasting with the experience of smaller European nations. Moving to Britain's growth crisis, inspired by Janan Ganesh's thought-provoking FT article "Britain should stop pretending it wants more economic growth", our discussion delves into how politicians repeatedly choose other priorities - from environmental concerns to distribution effects - over growth-oriented policies. The team investigates the difficulties of garnering public support for pro-growth reforms at a time when younger generations lack experience of sustained economic expansion. Our final segment unpacks Labour's Renters' Rights Bill and its likely unintended consequences. The panel outlines how banning "no-fault evictions" and limiting deposits risks making landlords more selective, potentially discriminating against young people and those with irregular incomes. Through detailed analysis, they demonstrate why reducing rental market flexibility and pushing landlords to sell their properties could ultimately disadvantage the very tenants the legislation aims to protect, suggesting that increasing housing supply, rather than additional regulations, holds the key to empowering tenants. We bring you a current affairs podcast with a difference. We want to get beyond the headlines and instead focus on the big ideas and foundational principles that matter to classical liberals. 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

In this new interview with libertarian power couple Matt and Terry Kibbe, founders of Free the People, hosted by IEA's Communications Manager, Reem Ibrahim, they explore how storytelling and personal narratives can effectively communicate ideas of liberty and economic freedom. From Terry's experience in the defence industry to Matt's discovery of libertarianism through Rush albums and Austrian economics, their journey showcases innovative approaches to reaching new audiences. The discussion delves into their successful strategy of making complex economic concepts accessible through relatable content and storytelling. Their work at Free the People demonstrates how video content and documentaries can bridge political divides, featuring stories from Cuban artists to family-owned businesses affected by COVID-19 policies. Host Reem Ibrahim and the Kibbes examine concerning trends, including that 53% of young adults (18-34) in the UK view socialism favourably. However, they remain optimistic about the future of liberty-focused ideas, particularly through their "gateway drug" approach of introducing these concepts through engaging, personal stories that resonate across political spectrums. 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