Mancur Olson explained in The Logic of Collective Action (1965) that the free rider problem and the paradox of participation discourage rational consumers from taking collective action to oppose policies that disadvantage them. The lack of grassroots opposition to 'nanny state' policies from...

The benefits of innovation are unpredictable and hard to quantify. Fear of adverse consequences can lead to excessive emphasis on risk avoidance, leading to regulation that holds back beneficial innovation. The experience in tobacco harm reduction illustrates this.Innovative reduced-risk...

A new IEA publication explores the case for deregulating the gambling marketExecutive summary:The 2005 Gambling Act was intended to modernise gambling in the United Kingdom by replacing the anachronistic 1968 Gaming Act with legislation better suited to the twenty-first century. The 1968 Act had...

The benefits of innovation are unpredictable and hard to quantify. Fear of adverse consequences can lead to excessive emphasis on risk avoidance, leading to regulation that holds back beneficial innovation. The experience in tobacco harm reduction illustrates this.Innovative reduced-risk...

A new IEA publication explores the case for deregulating the gambling marketExecutive summary:The 2005 Gambling Act was intended to modernise gambling in the United Kingdom by replacing the anachronistic 1968 Gaming Act with legislation better suited to the twenty-first century. The 1968 Act had...