The IEA is 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. Given the current economic challenges facing Britain and the wider global environment, it is more vital than ever that we promote the intellectual case for a free economy, low taxes, freedom in education, health and welfare and lower levels of regulation. The IEA also challenges people to think about the correct role of institutions, property rights and the rule of law in creating a society that fosters innovation, entrepreneurship and the efficient use of environmental resources. The IEA is an educational charity (No CC 235 351) and independent research institute limited by guarantee. The Institute is entirely independent of any political party or group, and 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 and accepts no money from government. Established in 1955 by the late Sir Anthony Fisher and Lord Harris, the IEA's first Director General, and joined by Arthur Seldon as the first Editorial Advisor, the IEA has a long and proud history.