It is often asserted that supporters of a market economy believe that ‘greed is good’. This is simply not true. Economists know that people are capable of a range of thoughts, feelings, motivations and emotions and a market economy works regardless of whether people are selfish or...

It is widely believed that income inequality in the UK is rising and will spiral out of control unless action is taken by government. This briefing paper looks at income inequality data from the Office for National Statistics.The paper shows that there was a rise in inequality in the 1980s, but...

New research debunks the myths associated with extended opening hours.Summary:Introduced in 2005, the Licensing Act allowed more flexibility in pub, bar and nightclub opening times and allowed for the possibility of ’24 hour drinking’.It was widely predicted that the relaxation of licensing...

Drinkers subsidise non-drinkers by £6.5bn each yearThis study estimates the direct costs of alcohol use to the government in England, including the NHS, police, criminal justice system and welfare system. Taken together, they amount to a gross cost of £3.9 billion per annum (in 2015...

The British population is getting older. In 1948, life expectancy was 68. Thanks to healthier lifestyles and medical advances, it is now 81 and is expected to rise to 87 by the end of the next decade. The rapid growth of the elderly population will put a strain on healthcare, social care and...

Eating sugary food, drinking alcohol and smoking cigarettes are legal activities. But politicians still use the law to discourage them. They raise their price, prohibit or limit their advertisement, restrict where they can be sold and consumed, and sometimes ban them outright. These politicians...

The Index tracks over-bearing, paternalistic lifestyle regulation across the EU in four categories: alcohol, e-cigarettes, food/soft drinks and tobacco. Nanny state interventions in these areas are invariably promoted on grounds of health and yet it is difficult to see how clamping down on...

UK voters face an historic choice between remaining within the EU or leaving and seeking a different type of involvement in the world economy. Such an alternative is clearly possible: the UK has many advantages in an international context as a result of its historical alliances and involvement...

Spending on fixed odd betting terminals (FOBTs) makes up only 13.6% of the UK’s total gambling expenditure. This is less than half the amount spent on either lotteries or online gambling. The amount spent on FOBTs has been greatly exaggerated in the media as a result of confusion about what is...

There remains a debate about the true level of wealth inequality in the UK, but the trends do not conform to the story of unprecendented or spiralling inequality that are frequently implied in the media. Wealth inequality recently widened for the first time in a decade. However, this was...