Suchergebnisse

Powerful influences on the IEA have been classical liberal and'Austrian'economic ideas. Beginning with Edwin Cannan, these ideas were then transmitted during the interwar years to LSE students by scholars such as Hayek, Coase and Robbins. More recent LSE influences have been less benign.

As a tribute to the late Lord Joseph, who died last December, the IEA's first Editorial Director Considers Joseph's attempts to translate into practival policy reforms which would be desirable in the long term. Arthur Seldon suggests lessons still to be learned by politicians of all parties.

The welfare state, and especially the state pension system, has lessened the British people's prudential urge to save. The free market would have ensured that competition invigorated traditional methods of saving and introduced new ones.

The state prevents the market from discovering the imperfections of the welfare state. To prove itself state welfare must be open to competing methods of producation.

The historical method of the 'counter‐factual' is used in this symposium to shed light on the circumstances in which the welfare state came over time to supplant voluntary private services in education, health, pensions, etc. The fundamental cost of the welfare state is its displacement of these services.