Publications

The long run is a misleading guide to current affairs. ‘In the long run we are all dead,’ wrote John Maynard Keynes in 1923. The statement seems well-suited to the…

Europe once again stands at the edge of a technological revolution—this time, in quantum computing. Widely regarded as the next tech frontier, quantum promises capabilities far beyond today’s supercomputers, with…

Prison cells are a fascinating economic laboratory, where for over a century thriving markets in goods, services, labor—and even money—have existed. Nowhere else do you find so many people craving…

We are delighted to publish this new report by our regular contributor, Bob Lyddon. It is about the plans of the UK government to launch a decade-long programme of ‘investment’…

WP 2025-10. Executive Summary Many countries’ Founding Fathers and large portions of academia believed that constitutions, common-sense economics, and people’s vigilance would be enough to restrain taxation and public debt.…

For centuries, Britain stood as a magnet for global wealth. London’s financial markets, trusted legal system, and cosmopolitan culture attracted the world’s wealthy, fueling investment, innovation, and growth. But that…

Since returning to office in January 2025, President Donald Trump has made the Federal Reserve a central target of his presidency. At first, there were hints of serious reform, including…

In 1825,  the first public railway line from Stockton and Darlington in the UK was opened to traffic. For more than half a century, there was a vigorous development of…

Introduction Governments and other public sector entities have borrowed up to the limit of their debt capacity, and, in the EU, its supranational entities have run up debts themselves. Public…

On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” (OBBBA) into law—a sweeping package of tax cuts and federal spending presented as a patriotic revival of…