Institute of Economic Affairs
The Institute of Economic Affairs (IEA) is a London-based, influential, right-wing think tank. It is part of a very wide international network of similar organisations, offering financial, operational and strategic support to a large number of these. IEA is an "associate member of the State Policy Network (SPN) and among many other groups, via its founders Antony Fisher, Ralph Harris, Oliver Smedley and Arthur Seldon, it spawned the Atlas Economic Research Foundation, the University of Buckingham, and the International Policy Network, which the IEA appears to fund and run directly. Members of the IEA founded the Centre for Research into Post-Communist Economies in 1983. 
The IEA enjoyed its highest influence during the right-wing Tory administration of Margaret Thatcher. Milton Friedman believes the IEA's intellectual influence was so strong that "the U-turn in British policy executed by Margaret Thatcher owes more to him (i.e., Fisher) than any other individual. 
The IEA describes itself as, "the UK’s original free-market think-tank, founded in 1955. 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"  IEA is also a global partner of the Atlas Network. 
- 1 Associated Organisations (past and present)
- 2 State Policy Network
- 3 News
- 4 History
- 5 Publications
- 6 Funding
- 7 Core Financials
- 8 Personnel
- 9 Contact information
- 10 External Articles
- 11 References
Associated Organisations (past and present)
U.K. and Europe
- Mont Pelerin Society - runs the Davos Conference of libertarians in Switzerland each year.
- Le Cercle
- Ludwig von Mises Institute
- International Policy Network
- State Policy Network (UK and USA)
UK tobacco/lobbying organisations
- FOREST - Freedom Organisation for the Right to Enjoy Smoking Tobacco (run for the tobacco industry by Lord Harris of High Cross (Ralph Harris) and Stephen Eyers
- ESEF - European Science & Environment Forum (run by Roger Bate for Philip Morris)
- Social Affairs Unit (SAU) run for any corporation with the funding by Digby Anderson.
USA - the main nodes in libertarian network
- Atlas Economic Research Foundation (one of the first US think-tanks founded by Fisher)
- Atlas Network (aka Atlas Group network) which links together the hundreds of libertarian think-tanks around the world
- Pacific Research Institute (one of the first US think-tanks founded by Fisher) - now a primary node in the network
- Coalition on Human Needs (CHN) (one of the first US think-tanks founded by Fisher) it has over 100 organisations in the coalition
- Fraser Institute (the Canadian think-tank first used by Fisher)
State Policy Network
SPN is a web of right-wing “think tanks” and tax-exempt organizations in 50 states, Washington, D.C., Canada, and the United Kingdom. As of April 2023, SPN's membership totals 163. Today's SPN is the tip of the spear of far-right, nationally funded policy agenda in the states that undergirds extremists in the Republican Party. SPN Executive Director Tracie Sharp told the Wall Street Journal in 2017 that the revenue of the combined groups was some $80 million, but a 2022 analysis of SPN's main members IRS filings by the Center for Media and Democracy shows that the combined revenue is over $152 million. Although SPN's member organizations claim to be nonpartisan and independent, the Center for Media and Democracy's in-depth investigation, "EXPOSED: The State Policy Network -- The Powerful Right-Wing Network Helping to Hijack State Politics and Government," reveals that SPN and its member think tanks are major drivers of the right-wing, American Legislative Exchange Council (ALEC)-backed corporate agenda in state houses nationwide, with deep ties to the Koch brothers and the national right-wing network of funders.
In response to CMD's report, SPN Executive Director Tracie Sharp told national and statehouse reporters that SPN affiliates are "fiercely independent." Later the same week, however, The New Yorker's Jane Mayer caught Sharp in a contradiction. In her article, "Is IKEA the New Model for the Conservative Movement?," the Pulitzer-nominated reporter revealed that, in a recent meeting behind closed doors with the heads of SPN affiliates around the country, Sharp "compared the organization’s model to that of the giant global chain IKEA." She reportedly said that SPN "would provide 'the raw materials,' along with the 'services' needed to assemble the products. Rather than acting like passive customers who buy finished products, she wanted each state group to show the enterprise and creativity needed to assemble the parts in their home states. 'Pick what you need,' she said, 'and customize it for what works best for you.'" Not only that, but Sharp "also acknowledged privately to the members that the organization's often anonymous donors frequently shape the agenda. 'The grants are driven by donor intent,' she told the gathered think-tank heads. She added that, often, 'the donors have a very specific idea of what they want to happen.'"
A set of coordinated fundraising proposals obtained and released by The Guardian in early December 2013 confirm many of these SPN members' intent to change state laws and policies, referring to "advancing model legislation" and "candidate briefings." These activities "arguably cross the line into lobbying," The Guardian notes.
In 1945 Antony Fisher went to the London School of Economics to see F. A. Hayek. Fisher shared Hayek's belief in the dangers growing government power presented for the future. He was determined to embark on a political and parliamentary career in order to shift discussion and policy away from the prevailing consensus on planning and Keynesian economics. Hayek dissuaded Fisher from politics by arguing that the decisive influence in the battle of ideas rested with intellectuals, and hence, the way forward would be to establish a body which could engage in research and influence 'intellectual' opinion in order to win over the opinion of those in the universities, the schools and the media.
Ten years after that initial meeting with Hayek, Fisher was financially in a position to create the research institute they had discussed. Ralph Harris [later appointed Lord Harris] and Arthur Seldon were instrumental in establishing the IEA.
The IEA's goal is to explain free-market ideas to the public, including politicians, students, journalists, businessmen, academics and anyone interested in public policy.
The core belief of free-marketeers is that people should be free to do what they want in life as long as they don't harm anyone else. On the whole, society's problems and challenges are best dealt with by people and companies interacting with each other freely, without interference from politicians and the State. This means that government action, whether through taxes, regulation or laws, should be kept to a minimum. IEA authors and speakers are therefore always on the lookout for ways of reducing the government's role in our lives.
The IEA's main activity is a programme of researching and publishing books (up to 20 a year) and a quarterly journal on various public policy issues. The IEA usually commissions outside authors to do the work, though some is done in-house by IEA staffers. The IEA holds an extensive series of conferences, seminars, lectures and working lunches to discuss its themes (50-80 events a year). There is also a student outreach programme.
The IEA is a registered educational and research charity. As such it is entirely funded by voluntary donations from individuals, companies and foundations who want to support its work, plus income from book sales and conferences. It does no contract work, accepts no money from government and is independent of any political party.
|See Documents & Timelines|
The Institute of Economic Affairs features several publications on their website, including:
- Research Articles 
- Co-Published Books 
- Economic Affairs, Journal of the Institute of Economic Affairs 
- EA Magazine 
- Brexit Unit 
- The Shadow Monetary Policy Committee (SMPC) 
- The Paragon Initiative 
- EPICENTER, the European Policy Information Center 
Between 1996 and 2013, the Institute of Economic Affairs (IEA) received $1,409,096 in donations. 
- Earhart Foundation - $1,044,796
- Pierre F. and Enid Goodrich Foundation - $190,000
- John Templeton Foundation - $131,900
- Lynde and Harry Bradley Foundation - $22,400
- Roe Foundation - $20,000
The IEA also received $596,540 through the American Friends of the Institute of Economic Affairs between 1996 and 2013. 
- DonorsTrust - $284,900
- Chase Foundation of Virginia - $145,140
- Lovett and Ruth Peters Foundation - $99,000
- Exxon Mobil - $50,000
- Aequus Institute - $10,000
- Atlas Economic Research Foundation - $7,500
- Incoming Resources: £1,693,000
- Total Resources Expended: £2,132,000
- Net Reduction of Funds: £258,000
- Incoming Resources: £1,922,000
- Total Resources Expended: £2,408,000
- Net Resources Expended: £486,000
- Incoming Resources: £1,527,000
- Total Resources Expended: £1,566,000
- Net Resources Expended: £39,000
- Incoming Resources: £1,059,000
- Total Resources Expended: £1,194,000
- Net Resources Expended: £135,000
- Incoming Resources: £1,020,000
- Total Resources Expended: £1,178,000
- Net Resources Expended: £158,000
American Friends of the Institute of Economic Affairs 2015 
- Total Revenue: $163,731
- Total Expenses: $167,060
- Net Assets: $12,248
American Friends of the Institute of Economic Affairs 2014 
- Total Revenue: $60,338
- Total Expenses: $176,025
- Net Assets: $3,221
American Friends of the Institute of Economic Affairs 2013 
- Total Revenue: $112,941
- Total Expenses: $800
- Net Assets: $112,485
American Friends of the Institute of Economic Affairs 2012 
- Total Revenue: $75,100
- Total Expenses: $83,241
- Net Assets: $344
American Friends of the Institute of Economic Affairs 2011 
- Total Revenue: $35,600
- Total Expenses: $725
- Net Assets: $58,485
Director General's Office 
- Mark Littlewood, Director General
- Sam Collins, Policy Advisor to Mark Littlewood
Academic and Research Department 
- Jamie Whyte, Research Director
- Dr. Richard Wellings, Deputy Research Director & Head of Transport
- Dr. Stephen Davies, Head of Education
- Julian Jessop, Chief Economist
- Dr. Kristian Niemietz, Head of Health and Welfare
- Christopher Snowdon, Head of Lifestyle Economics
- Terry Barnes, Lifestyle Economics Fellow
- Professor Philip Booth, Senior Academic Fellow
- Len Shackleton, Editorial and Research Fellow
- Diego Zuluaga, Financial Services Research Fellow and Head of Research, EPICENTER
Communications Department 
- Stephanie Lis, Director of Communications
- Nerissa Chesterfield, Communications Officer, Media
- Chloe Mingay, Communications Officer, Public Affairs
Programmes Department 
- Christiana Stewart-Lockhart, Director of Programmes
- Adam Bartha, Events & Outreach Officer, EPICENTER; Programmes Assistant, IEA
- Giovanni Caccavello, EPICENTER Research Fellow
- Sophie Sandor, Programmes Manager
Creative, Marketing and Development Department 
- Glynn Brailsford, Managing Director
- Kate Andrews, News Editor
- Madeline Grant, Digital Officer
- Ellie Weston, Graphic Designer
- Angela Harbutt, Development Director
- Declan Pang, Development Manager
- Amy Horscroft, Development Officer
- Morgan Schondelmeier, Development Officer
Operations Department 
- Clare Rusbridge, Office Manager and Company Secretary
- Christian Killoughery, Operations Officer
- Neil Record, Chairman
- Kevin Bell
- Robert Boyd
- Sir Michael Hintze
- Professor Patrick Minford
- Professor Mark Pennington
- Bruno Prior
- Professor Martin Ricketts
- Robin Edwards
- Linda Whetstone
- Lord Nigel Vinson, Life Vice President and former Chair of the IEA Board of Trustees
- Professor D.R. Myddelton, Life Vice President and Former Chair of the IEA Board of Trustees
Advisory Council Members 
- Robin Edwards, Chairman
- Lord Jamie Borwick
- Alex Deane
- Linda Edwards
- Lord Howard Flight
- Tom Harris
- Tessa Keswick
- John Longworth
- Christian May
- Jon Moynihan OBE
- Neil Record
- Alexander Temerko
- Lord Nigel Vinson
- Linda Whetstone
- Ralph Harris Founder President
- John Blundell Director General,
- Roger Bate Environment and Technology
- Julian Morris Environment and Technology
- James Tooley Education
- Richard D North Media Fellow
- Christine Blundell
- Colin Robinson, Editorial Director
- Clare Batty, Company Secretary
- Anne Colyer, Editorial Secretary
- Melissa Davis, Communications Manager/Press Officer
- Tom Miers, Development Director
- Adam Myers, Director of Marketing & Subscriptions
- Lisa MacLellan, Manager of Environment Unit
- Baron Vinson, former chair
CHARITY NO. CC/235 351
Institute of Economic Affairs
2 Lord North Street (entrance on Great Peter Street)
- Martin Morse Wooster, "Liberty's Quiet Champion", Philanthropy Magazine, July/August 2003.
- Richard Cockett, ''Thinking the unthinkable: think-tanks and the economic counter-revolution, 1931-1983'', Fontana Press, 1994. ISBN: 978-0006375869
- Centre for Research into Post-Communist Economies, The Centre for Research into Communist Economies (CRCE), CRCE website, Accessed August 1, 2017.
- Martin Morse Wooster, "Liberty’s Quiet Champion: A Review of Gerald Frost's New Biography of Antony Fisher", Philanthropy Roundtable website, Accessed August 1, 2017.
- Institute of Economic Affairs, Institute of Economic Affairs: About Us, IEA website, Accessed August 1, 2017.
- ATLAS Network, Global Directory: About, ATLAS Network website, Accessed August 1, 2017.
- David Armiak, State Policy Network and Affiliates Raises $152 Million Annually to Push Right-Wing Policies, ExposedbyCMD, September 30, 2022.
- Rebekah Wilce, Center for Media and Democracy, EXPOSED: The State Policy Network -- The Powerful Right-Wing Network Helping to Hijack State Politics and Government, organizational report, November 13, 2013.
- Jane Mayer, Is IKEA the New Model for the Conservative Movement?, The New Yorker, November 15, 2013.
- Ed Pilkington and Suzanne Goldenberg, State conservative groups plan US-wide assault on education, health and tax, The Guardian, December 5, 2013.
- ATLAS Network, Institute of Economic Affairs Wins Atlas Network 2014 Sir Antony Fisher International Memorial Award, ATLAS Network website, November 5, 2014.
- Gerald Frost, ANTONY FISHER: Champion of Liberty, Profile Books, Ltd., 2002.
- Institute of Economic Affairs, Research, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, Co-Published Books, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, Economic Affairs Journal, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, EA Magazine, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, Brexit Unit, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, The Shadow Monetary Policy Committee, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, The Paragon Initiative, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, EPICENTER, The European Policy Information Center, IEA website, Accessed August 1, 2017.
- Top Supporters of Institute of Economic Affairs, Total Value Of Contributions, Conservative Transparency, Accessed July 28, 2017.
- American Friends of the Institute of Economic Affairs, Total Value Of Contributions, Conservative Transparency, Accessed July 28, 2017.
- Institute of Economic Affairs, Trustees' Report and Financial Statements, 2015, The Institute of Economic Affairs, December 31, 2015.
- Institute of Economic Affairs, Trustees' Report and Financial Statements, 2014, The Institute of Economic Affairs, December 31, 2014.
- Institute of Economic Affairs, Trustees' Report and Financial Statements, 2013, The Institute of Economic Affairs, December 31, 2013.
- Institute of Economic Affairs, Trustees' Report and Financial Statements, 2012, The Institute of Economic Affairs, December 31, 2012.
- Institute of Economic Affairs, Trustees' Report and Financial Statements, 2011, The Institute of Economic Affairs, December 31, 2011.
- ProPublica, American Friends of the Institute of Economic Affairs, ProPublica Nonprofit Explorer, Accessed August 1, 2017.
- Institute of Economic Affairs, Director General's Office, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, Trustees, IEA website, Accessed August 1, 2017.
- Institute of Economic Affairs, Advisory Council Members, IEA website, Accessed August 1, 2017.