“I think that’s a perennial question for a lot of people who want to influence the world around them. Are you going to go into academia and change the world through ideas? Are you going to go into politics and change the world through actions? Or are you going to do both and work for a think tank?

Adam Bartha 1

Today on the podcast, I’m releasing a conversation that I recorded just over 6 months ago. It’s worth noting that deciding which show to air each week is by no means an exact science. This episode has been near the top of my list for many weeks, but it just kept getting bumped aside by interviews that had content more time-sensitive. In reality, at any one time, I have a pool of episodes to choose from since we record all our podcasts in person in batches at different events and gatherings that I attend.

As you are listening to this, bear in mind that the conversation was recorded in April. Nevertheless, there are still plenty of timeless insights and lots of up-to-date information, plus some interesting predictions about the economy that turned out to be quite prophetic.

My guest is Adam Bartha, who is the director at Epicenter, The European Policy Information Center, which is part of the Institute of Economic Affairs.

As a gentleman who roams the political hallways of Brussels, I had a lot of questions for Adam about the E.U. and international politics in general, which is something that both fascinates and infuriates me. Alongside that, we discuss topics such as freedom, social media, Brexit, open borders, city gentrification, inflation, the impending battle between Bitcoin and CBDCs, and of course, free markets.

Enjoy the conversation.

Automatically Generated Summary


Section Overview: The host introduces the podcast and welcomes listeners to the Free Cities Podcast. He explains that the episode being released is a conversation recorded almost 6 months ago, but still contains timeless insights and information.

Introducing the Free Cities Podcast

  • The podcast is the official podcast of the Free Cities Foundation.
  • It aims to provide new ideas and entertaining ways of thinking.
  • The host emphasizes that he doesn’t care about listeners’ political affiliations, as long as they are open to new ideas.

00:48 Episode Selection Process

Section Overview: The host explains how he selects which episodes to air each week and why this particular episode was chosen.

Selecting Episodes

  • Choosing which episode to air each week is not an exact science.
  • This episode has been on top of the list for weeks but kept getting bumped out by other interviews with more time-sensitive content.
  • The host mentions having a pool of episodes to choose from, as they record podcasts in person at different events and gatherings.

01:35 Recording Date and Timeless Insights

Section Overview: The host acknowledges that this conversation was recorded back in April but assures listeners that there are still plenty of timeless insights and information in it.

Recording Date

  • The conversation was recorded back in April.
  • Despite being several months old, it still contains valuable insights.

02:21 Guest Introduction

Section Overview: The guest, Adam Bartha, is introduced. He is the director at Epicenter, part of the Institute of Economic Affairs. Topics such as EU politics, international politics, freedom, social media, Brexit, open borders, city gentrification, inflation, money printing, Bitcoin vs Central Bank digital currencies are mentioned as part of the conversation.

Introducing Adam Bara

  • Adam Bartha is the director at Epicenter, which is part of the Institute of Economic Affairs.
  • The guest’s expertise lies in EU and international politics.
  • Topics discussed include freedom, social media, Brexit, open borders, city gentrification, inflation, money printing, and Bitcoin vs Central Bank digital currencies.

03:23 Institute of Economic Affairs

Section Overview: The guest provides information about the Institute of Economic Affairs (IEA), describing it as one of the oldest free market institutions globally. He mentions its influence on liberalization reforms in the UK during the 80s.

Institute of Economic Affairs

  • The IEA is one of the oldest free market institutions globally.
  • It played a significant role in driving liberalization reforms in the UK during the 80s.
  • The founder of IEA also established the Atlas Network, a global network of free-market think tanks.

04:33 Working at IEA and Epicenter

Section Overview: The guest discusses working at IEA and Epicenter. He mentions that while IEA is an old institution located in an old building next to Parliament, it is ready for new challenges. Epicenter was founded to focus on pan-European issues rather than domestic policy outreach.

Working at IEA and Epicenter

  • Working at IEA feels like being part of an old institution but with readiness for new challenges.
  • IEA is located in an old building next to Parliament that requires ongoing renovation.
  • Epicenter was founded to address pan-European issues neglected by other free-market organizations focused on domestic policy outreach.

05:32 Influence on European Union Policies

Section Overview: The guest explains how Epicenter was established to address the lack of focus on European Union policies by other free-market think tanks.

Influence on EU Policies

  • Many regulations affecting Europe are decided in Brussels, not at the domestic level.
  • Epicenter was founded to create a network of think tanks specifically focused on pan-European issues.
  • The goal is to influence EU policies and educate policymakers about the importance of liberalizing reforms.

06:33 Influencing Politicians

Section Overview: The host asks about influencing politicians and how it compares to his experience as a journalist in London.

Influencing Politicians

  • Epicenter is based in Brussels, where policymakers also frequent.
  • The dynamics of influencing politicians may differ from the journalist-politician relationship experienced in London.
  • The guest’s work involves engaging with policymakers and advocating for policy changes.

Note: Timestamps have been associated with bullet points as requested.


Section Overview: The speaker discusses the influence and composition of the European Union (EU) in Brussels, highlighting the close-knit community and international nature of the city. They also mention the role of think tanks in influencing policy.

Influence and Composition of the EU in Brussels

  • The EU has fewer employees than most city governments, but they have significant influence over Europe.
  • In bars and social settings, one can encounter influential advisers who may have more impact than members of the European Parliament.
  • The community in Brussels is tribal, with people often gravitating towards others from their own country or language group.
  • Think tanks play a role in shaping ideas and policies, focusing on education rather than lobbying politicians.


Section Overview: The speaker explains that think tanks like the Institute of Economic Affairs (IEA) aim to put forward ideas for a free market perspective. They discuss how think tanks influence society through education and outreach.

Role of Think Tanks

  • Think tanks like IEA do not engage in lobbying but focus on presenting ideas from a free market angle.
  • Their goal is to educate and recommend policies that align with their perspective.
  • While politicians may adopt these ideas, think tanks primarily aim to influence society as a whole through educational outreach.
  • This approach differs from some US-based think tanks that are more involved in public affairs.


Section Overview: The speaker discusses how think tanks act as intermediaries between academics who develop theories and policymakers who implement them. They emphasize the importance of influencing society as a whole to bring about structural change.

Influencing Society for Structural Change

  • Think tanks serve as secondhand dealers of ideas, translating academic theories into understandable concepts for wider consumption.
  • Both agents (individuals) and structure (systemic factors) are important in politics, but influencing society is crucial for bringing about structural change.
  • Educational outreach plays a key role in influencing society, whether through traditional academic seminars or modern platforms like social media.
  • Think tanks should aim to appeal to the entire segment of society, not just policymakers.


Section Overview: The speaker discusses the use of TikTok as a platform for promoting ideas and reaching a wider audience. They highlight the potential impact of viral videos on social media platforms.

Utilizing Social Media Platforms

  • TikTok offers a unique opportunity to reach a large number of people quickly through viral videos.
  • While traditional videos may have a lasting impact over time, TikTok’s fast-paced nature allows for rapid influence within 24 hours.
  • The Institute of Economic Affairs recently started using TikTok and will assess its success after three months.
  • Other social media avenues are also important for promoting ideas and engaging with audiences.

Note: The transcript does not provide further information on other social media platforms used by the Institute of Economic Affairs.

13:14 The Importance of Personal Presence on Social Media

Section Overview: In this section, the speaker discusses the significance of personal presence on social media compared to organizational presence. They highlight how individuals with a strong personal following and engagement can have a greater impact than organizations.

Personal Presence vs Organizational Presence

  • Individuals with a large and engaged following on social media can be more influential than organizations.
  • Establishing oneself as a social media influencer within a larger organization can lead to greater success.
  • The personal connection between individuals and influencers often outweighs the connection to the organization itself.

14:32 Success of Influencers on Social Media

Section Overview: This section focuses on the success of influencers on social media and their impact in promoting ideas.

Influence and Success

  • Some colleagues have tens or hundreds of thousands of followers, which is considered impressive.
  • Followers are personally invested in influencers rather than just the organization they represent.
  • Influencers play a crucial role in making ideas popular through their engagement with followers.

15:11 Target Audience for Promoting Ideas

Section Overview: Here, the speaker discusses who might be intrigued by their ideas and how to reach them effectively.

Target Audience

  • The main brand message is promoting individual freedom in all aspects, including societal and economic freedoms.
  • Anyone aspiring to become better, freer, and open-minded towards classical liberal arguments could be intrigued by these ideas.

16:18 Discussion on Personal Freedom

Section Overview: A discussion about personal freedom took place earlier in the day. The speaker shares insights from that discussion.

Collectivist Urge Against Personal Freedom

  • Many people are against personal freedom due to a collectivist urge that prioritizes collective interests over individual rights.
  • The speaker agrees with this observation but believes that if the social instinct can be channeled into voluntary cooperation rather than forced collectivism, it can be beneficial.

17:20 Cooperation and Voluntary Corporation

Section Overview: This section explores the importance of voluntary cooperation and its distinction from forced collectivism.

Importance of Voluntary Cooperation

  • The caricature of libertarianism as separate individuals is untrue; humans are social animals who have achieved great things through cooperation.
  • It is crucial to differentiate between voluntary cooperation and government-imposed collectivism.

18:01 Epicenter’s Work with the EU

Section Overview: The speaker explains their work primarily focused on the European Union (EU) and how they collaborate under the Epicenter Network umbrella.

Epicenter’s Role

  • Epicenter consists of 10 member think tanks working on changing ideas domestically in European countries.
  • They collaborate under the Epicenter Network for pan-European or EU-related issues.
  • While an ideal world may not require a European Union, given historical conflicts among nation-states, a supranational institution like the EU serves a purpose in today’s world.

18:49 Rationale Behind the European Union

Section Overview: This section delves into the rationale behind establishing the European Union despite potential criticisms.

Rationale for EU Establishment

  • Historically, many nation-states in Europe had conflicts, including World War II.
  • The idea behind setting up a supranational institution like the EU was to prevent such conflicts and promote peace and cooperation among nations.


Section Overview: In this section, the speaker discusses the foundational idea of the EU, which is based on the freedom to invest and exchange goods without barriers. The question arises whether the EU should exist in an ideal world or if there is a place for some umbrella organization.

Is there a place for an umbrella organization?

  • The speaker ponders on whether an umbrella organization like the EU would exist in an ideal world.
  • It is acknowledged that this line of thinking can lead to dangerous paths by centralizing power or overestimating human abilities.


Section Overview: This section explores how society could be restarted and institutional structures set up to be more friendly towards humanity. The focus would be on core freedoms such as movement and trade.

Restructuring the EU

  • In an ideal scenario, the EU would still exist but with a different form.
  • The speaker suggests that the EU should primarily focus on core freedoms like movement and trade.
  • Decisions within the EU should aim for decentralization as much as possible.
  • The current setup with 27 nation states often leads to compromises that may not benefit everyone involved.


Section Overview: Here, the speaker discusses how decisions should be taken within the EU from a classical liberal perspective. Emphasis is placed on regional or city-level decision-making rather than centralized power.

Decentralization of Power

  • Classical liberals believe that decisions within an ideal society should be made at regional or city levels.
  • However, convincing those in power to give up their authority poses challenges.
  • Hard compromises may need to be made, offering incentives such as maintaining influential roles within a reformed EU structure.


Section Overview: This section delves into the need for a more coordinated approach within the EU while keeping decisions that directly impact people’s daily lives closer to them.

Coordinated Approach and Local Decision-Making

  • The speaker suggests that certain policy areas, excluding monetary policy, foreign policy, and defense, could be handled at a city level.
  • Issues like education, healthcare, and business regulations should be closer to the people.
  • The current system lacks representation for both individual citizens and nation states.


Section Overview: Here, the speaker highlights the importance of decision-making being closer to the people within the European Union. Over-centralization is seen as a problem caused by both the EU and member states.

Closer Decision-Making

  • People within the EU have a closer relationship with local policymakers rather than national or European representatives.
  • Decisions made closer to the people would improve representative democracy.
  • Policy areas beyond monetary policy, foreign policy, and defense could be delegated to city-level governance.


Section Overview: This section explores how empowering individuals at a local level can lead to social change and influence those in power.

Empowering Individuals Locally

  • Giving power to individuals at a local level can create a feedback loop that influences those in power.
  • It is compared to a Trojan horse strategy where power gradually shifts from centralized authorities.
  • The speaker was not working during Brexit but recalls witnessing its outcome while studying at the London School of Economics.

25:36 Understanding the Brexit Vote

Section Overview: In this section, the speaker discusses their perspective on the Brexit vote and the reactions of people around them.

People’s Reactions to Brexit

  • The speaker mentions that after the Brexit vote, there was a sense of surprise and disbelief among journalists who had organized a party assuming that Brexit would not happen.
  • The speaker expresses curiosity about what people were thinking at that time and whether there was panic or frustration among different groups.
  • The speaker shares their own superficial reasons for voting in favor of Brexit, wanting to destabilize the EU as a big organization.
  • There is mention of strange voting patterns where people did not closely consider EU policies when deciding their vote.

Current Sentiments and Concerns

  • The speaker wonders if people still talk about Brexit and if there are worries about other countries following suit.
  • As an EU citizen living in the UK at the time of the referendum, the speaker felt scared due to uncertainty about their rights and future.
  • Despite recognizing some issues with the EU, such as underperformance compared to global competitors, the speaker leaned towards remaining due to personal background as a Continental European.
  • It is mentioned that there may not be major changes in the EU’s institutional setup in the next 5 to 10 years.

Disappointment and Free Market Reforms

  • The speaker acknowledges disappointment among those who voted for Brexit with hopes of decentralizing decision-making processes and implementing free market reforms.
  • However, they point out that no significant free market reforms have been implemented in the UK since then, making it difficult to justify leaving solely for those reasons.

Critique of Democracy

  • The speaker expresses a somewhat skeptical view towards democracy, mentioning disenfranchisement and lack of clarity regarding implementation of plans after democratic votes.
  • They highlight how both sides often say similar things and how being on the losing side can lead to feeling instantly disenfranchised.
  • The speaker suggests that there must be a better way of decision-making, possibly through decentralization.

30:55 Decentralization as an Alternative

Section Overview: In this section, the speaker discusses their perspective on decentralization as a potential solution to some of the issues with democracy and decision-making.

Benefits of Decentralization

  • The speaker argues that decentralizing countries like France into smaller semi-autonomous governing states could help reduce problems associated with centralized decision-making.
  • They suggest that more decentralized decisions would result in less grandiose decisions and potentially address concerns about loss of EU citizenship for certain individuals.
  • While acknowledging potential dissatisfaction with not following the exact desired path, they believe that decentralized decision-making can lead to more manageable outcomes.

Critique of Democratic Voting

  • The speaker reflects on the 50/50 split in the Brexit vote and considers it as evidence of its problematic nature.
  • They question the purpose and effectiveness of democratic voting, suggesting that there must be a better way to make decisions collectively.

Note: This summary provides an overview of the main points discussed in the transcript. It is important to refer back to the original transcript for complete accuracy.


Section Overview: In this section, the speakers discuss the benefits of decentralization and freedom of movement within countries and the European Union. They also touch upon the challenges and risks associated with these concepts.

Benefits of Decentralization

  • Lower taxes and friendliness towards entrepreneurs are some advantages of moving neighborhoods within France rather than to a different country with different languages and social norms. 32:02
  • Decentralization allows for greater freedom in decision-making processes. 32:24

Freedom of Movement in the EU

  • The speakers highlight the importance of freedom of movement within the European Union (EU) and its positive impact on travel convenience. However, they note that the UK was never part of the Schengen Zone, which allows for passport-free travel. 32:45
  • The emotional aspect of growing up without borders is discussed, particularly for individuals born after major historical events such as the fall of the Iron Curtain. 33:03
  • While both speakers express a desire for Europe without borders, they debate whether a supranational institution like the EU is necessary to achieve this or if it can be accomplished through other means. 34:02

Challenges and Risks

  • National governments hold significant power within institutional structures, making it difficult to dismantle existing systems or implement major changes.35:01
  • Disassembling current institutional systems could lead to potential risks such as instability or conflicts between different regions or countries. A cost-benefit analysis is required when considering radical transformations versus gradual reforms within existing frameworks.35:27


Section Overview: This section focuses on why freedom of movement is crucial from a classical liberal perspective.

Equal Opportunities and Fairness

  • The speakers emphasize that one’s place of birth should not determine their future opportunities. It is considered fundamentally unfair to restrict individuals based on their passport, regardless of their hard work or potential for success.36:57
  • Current nation states are making freedom of movement increasingly difficult, limiting people’s ability to move to more productive or safer areas. The United States is cited as an example of how immigration has become more challenging over time.37:44


Section Overview: This section delves into the challenges associated with freedom of movement and potential solutions.

Challenges in Achieving Freedom of Movement

  • The increasing difficulty in achieving freedom of movement is attributed to the power structures within nation states and institutional norms.37:20

Working Within the Current System

  • While both speakers express a desire for borderless Europe, they acknowledge that working within the current system may have a higher chance of success compared to radical transformations. They believe that historical context and existing frameworks make gradual reforms a more viable approach.36:10
  • Despite the challenges, there remains optimism about the possibility of achieving greater freedom of movement in Europe without relying solely on supranational institutions like the EU.36:35


Section Overview: In this section, the importance of freedom of movement for equal opportunities is discussed.

Importance for Individuals Affected by Conflict

  • The current situation in Ukraine highlights the significance of freedom of movement for individuals forced to leave their cities in search of safety elsewhere temporarily or permanently.36:57
  • Restricting mobility based on nationality limits opportunities and perpetuates inequality.

Note: Timestamp 2151s does not contain any relevant content related to the transcript.


Section Overview: The importance of diverse intellectual individuals in the US and the argument for open borders.

The Impact of Diverse Intellectual Individuals (0:38:25)

  • Many American billionaires have parents who were not born in the United States, highlighting the contribution of diverse intellectual individuals to the country’s success. 38:25

Argument for Open Borders (0:38:49)

  • Establishing hurdles and barriers for entry can hinder progress and result in missed opportunities. Open borders can be economically and socially beneficial. 38:49
  • While fully open borders may not be feasible, compromises can be made to allow people from different backgrounds to work and establish a better life within developed nations like the EU. 39:13
  • Social unrest can arise from cultural integration challenges when people switch countries, but it is possible to establish a system where newcomers agree to a basic set of rules while respecting free speech and societal norms. 40:01
  • Different countries have varying social norms, but expecting newcomers to adhere to a basic set of beliefs is not unreasonable. Switzerland’s decentralized citizenship acquisition process serves as an example. 40:42
  • It is fair to require permanent residents to follow a set of rules in their new neighborhood, ensuring mutual respect and harmony among residents. This concept aligns with the free private city model. 43:03
  • Many countries have entrance requirements or tests that assess applicants’ knowledge about their culture and history before granting citizenship, such as the UK’s citizenship test. 44:06


Section Overview: The speaker discusses a multiple-choice quiz about a band in the 70s and the arguments for and against open borders.

Arguments for Open Borders

  • Economic gain: When people from countries with corrupt or dysfunctional governance are placed in a functioning institutional environment, their productivity increases significantly. Examples include Irish immigrants to the United States and Eastern European immigrants to Germany, Austria, and the UK after joining the EU. Some estimates suggest that implementing open borders could double the world’s GDP overnight. 45:53

Arguments Against Open Borders

  • Concerns beyond economic output: People care about factors such as their neighborhood, education availability, healthcare services, etc. Government institutions often struggle to adapt to changes in population size, leading to complaints about overcrowding of government-provided services like schools and hospitals. Private organizations are generally more adaptable than government services. 47:58

Small Steps Towards Open Borders

  • The Schengen Zone within the European Union allows freedom of movement without passport control for member countries. This benefits countries with high unemployment rates by allowing their citizens to seek better opportunities elsewhere within the zone. It also benefits countries like Germany and Austria by attracting well-educated individuals from Southern and Eastern Europe who contribute to their economies. Implementing similar policies on a wider scale could bring significant benefits. 49:48


Section Overview: The speaker addresses concerns about rules being handed down from the EU and societal support for EU membership.

Rules Handed Down from EU

  • The rules regarding freedom of movement within the Schengen Zone are agreed upon by member states based on overall societal support for EU membership in each country. There is generally widespread support for EU membership among all 27 member states. 50:34

Section Overview: …

Subtopic Title

  • Bullet point description of key points and insights.

51:21 Living in a Rural Community

Section Overview: The speaker discusses their experience of moving to a rural community in Wales and the importance of integrating with the local residents.

Moving to a Rural Community

  • The speaker moved from the UK to Wales, specifically to a rural community.
  • They made an effort to fit in by introducing themselves to their neighbors and wanting to be welcomed into the community.
  • The speaker believes that some people who move into new areas do not make an effort to understand or respect the local culture, which can lead to animosity between different groups.

52:26 Adapting Values in Different Neighborhoods

Section Overview: The speaker reflects on how adapting values depends on the neighborhood and discusses the balance between preserving traditional aspects and embracing diversity.

Neighborhood Differences

  • The speaker acknowledges that attitudes towards adapting values depend on the specific neighborhood.
  • In rural areas like Wales, preserving traditional values is important, but in more diverse urban areas like East London, embracing diversity is valued.
  • While having some parts of Europe maintain their historical charm is acceptable, turning the entire continent into a museum without economic output or innovation would be problematic.

54:15 Cultural Changes in England

Section Overview: The speaker shares their personal experience of witnessing cultural changes in England over time and asks for the listener’s perspective on Britishness.

Personal Experience of Cultural Change

  • The speaker mentions growing up in Kent where everyone was similar and certain things were universally shared, such as limited TV channels and Christmas tree displays during Christmas time.
  • They have observed significant cultural changes over time, particularly in London where they lived before it became trendy.
  • The speaker wonders about the listener’s view on Britishness and whether they subscribe to the newer version that promotes multiculturalism.

55:45 Identifying with a Tribe

Section Overview: The speaker discusses their sense of identity and tribe, and expresses their globalist perspective on tribes and cultural diversity.

Sense of Identity

  • The speaker mentions living in Islington, London, and having a clear sense of their contemporaries and culture during that time.
  • They also mention their children growing up in a rural community with some changes but still having a sense of belonging to their tribe.
  • The speaker identifies as an unashamed globalist who values cultural diversity and believes that tribes can exist without being limited to one specific group.

Note: Timestamps are approximate and may vary depending on the source video.

57:22(t=3442s) The Impact of Changing Neighborhoods

Section Overview: In this section, the speaker discusses the impact of changing neighborhoods and the sense of belonging to a tribe or community.

Feeling Part of a Tribe

  • Some people feel a strong sense of belonging to a tribe or community based on factors like lifestyle choices (veganism, LGBTQ+), rural vs urban living, or cultural identity.
  • The speaker acknowledges that they don’t personally feel a close association with any particular tribe, even if they may belong to one based on their actions.
  • They share their experience of living in Stratford, London, which has undergone significant changes over the years. While they felt connected to the area and its residents, long-time locals might have had mixed feelings about newcomers.

Changes in Neighborhoods

  • The speaker reflects on how neighborhoods can undergo transformations that may be unsettling for long-time residents.
  • They mention that if people feel worse off as a result of these changes, it becomes a problem.
  • However, the speaker believes that overall, most people benefit from such changes. They give an example of Sheffield University attracting major companies and benefiting the local economy.

Housing Issues and Government Policies

  • The conversation shifts towards housing issues in London and the United Kingdom.
  • Rent increases have been significant over the years due to supply and demand imbalances.
  • The Town and Country Planning Act is discussed as a regulatory policy that makes it difficult to build new properties without local council approval.
  • Homeowners tend to vote conservative and may not want competition when selling their properties at significantly higher prices than what they bought them for.

Solution: Education and Building Houses

  • The speaker suggests that education is crucial in addressing housing issues. They emphasize the need for more houses to be built.
  • Government regulations are seen as hindrances to property development due to strict building standards and planning permissions.
  • The speaker mentions that these regulations predate the environmental movement and have become more stringent over time.

01:00:17(t=3617s) Government Regulations and Housing Crisis

Section Overview: In this section, the speaker delves deeper into government regulations and their impact on the housing crisis.

Town and Country Planning Act

  • The Town and Country Planning Act has been in place for a long time (since around 1948-1952).
  • Its application has become more stringent over the years, giving the government control over where, how, and when buildings are constructed.
  • Private individuals and businesses must adhere to these regulations when developing properties.

Impact on Property Market

  • The speaker highlights that strict regulations contribute to a shortage of flats in Southeast UK, with an estimated three million missing.
  • Homeowners, especially older people who tend to vote conservative, benefit from limited competition when selling their properties at significantly higher prices than what they bought them for.
  • Renters like the speaker express dissatisfaction with double-digit rent increases year after year due to supply-demand imbalances.

Solution: Simplify Building Processes

  • The speaker suggests simplifying building processes by reducing unnecessary government interference.
  • They argue that focusing on environmental policies or other legislations is not as relevant since the issue predates those movements.
  • Building more houses is seen as a practical solution to address the housing crisis.

Note: This summary covers two sections of the transcript.

01:04:00 Renting and Increase of Supply

Section Overview: The speaker discusses the issue of rising rents due to an increase in demand caused by people moving into the area. They argue that instead of fighting for a reduction in demand, the focus should be on increasing the supply of housing.

Welfare Stance

  • The speaker believes that welfare should be based on a pay-in system, where individuals who have paid into the system through taxes and social contributions can receive support if they lose their job after a certain period.
  • They argue that those who have never contributed to the welfare system should not have the right to take out from it.
  • The speaker expresses astonishment at why the British government has not implemented such a system, suggesting bureaucratic difficulties or opposition to paying in for future support.

01:05:23 Support Systems and Government Involvement

Section Overview: The discussion shifts towards support systems and whether government involvement is necessary or if civil society organizations can effectively provide assistance.

Role of Civil Society

  • The speaker highlights the importance of communities coming together to help individuals in need, citing NGOs, churches, and volunteer societies as examples.
  • They express skepticism about centralized government assistance, pointing out potential waste within the system and lack of personalized help for individuals.
  • The speaker suggests that fear of people slipping through cracks and political controversy may hinder changes to the welfare system.

01:08:14 Paying Into Welfare System

Section Overview: The conversation delves into the concept of paying into welfare systems as a common-sense approach.

Common-Sense Approach

  • The speaker emphasizes that paying into welfare systems is similar to having an insurance policy against hard times.
  • They express disbelief at any controversy surrounding this idea and question why people would rally against it.
  • The speaker compares the concept to paying for healthcare through National Insurance in the UK, highlighting the unfairness of receiving benefits without contributing.

01:09:08 National Insurance and State Budgets

Section Overview: The discussion focuses on National Insurance and its allocation within state budgets.

Misuse of National Insurance

  • The speaker criticizes how National Insurance funds are not allocated towards healthcare or pensions as intended.
  • They argue that it is essentially income tax but labeled differently to avoid higher tax rates.
  • The speaker highlights the discrepancy between the purpose of National Insurance as insurance against sickness and its actual use in general budgeting.

Note: This summary covers key points from the transcript.

01:10:10 The Current System of National Insurance Payments

Section Overview: The speaker discusses their perspective on the current system of national insurance payments and how it is allocated within the general state budget rather than towards specific areas like healthcare.

National Insurance Payments Allocation

  • The speaker believes that the current system of national insurance payments is essentially a lie.
  • They argue that these payments do not go towards hospitals, healthcare, or public services but instead are directed into the general state budget.
  • The speaker suggests framing the national insurance payments as contributions to the budget of the NHS (National Health Service) to potentially increase funding for healthcare.

01:10:28 Attempted NHS Charge and Public Opinion

Section Overview: The speaker mentions a previous attempt to introduce an NHS charge in the UK and discusses public opinion regarding such charges.

Previous Attempt at NHS Charge

  • Two years ago, there was an attempt in the UK to introduce an NHS charge due to pressure on the National Health Service caused by long waiting lines.
  • This charge would have been around half a percent or 1% of individuals’ salaries.
  • However, this proposal was abandoned due to its unpopularity among the public.

01:11:12 Influence of Epicenter on European Policies

Section Overview: The speaker talks about Epicenter’s influence on European policies and highlights their work during times of cost-of-living crises.

Influence on European Policies

  • Epicenter has had success in influencing European policies, particularly during periods when cost-of-living crises were prevalent across Europe.
  • They conducted a project with nine think tanks in different European countries, focusing on liberalizing reforms beyond monetary policy.
  • Specific recommendations were made for governments to implement reforms related to tax rates and protectionist policies that contribute to elevated prices.
  • Some of these recommendations have been taken up by governments, such as the liberalization of the transport market in Italy and tax rise reconsideration in Romania.

01:13:06 Success Stories and Challenges for Classical Liberal Think Tanks

Section Overview: The speaker discusses the importance of success stories for classical liberal think tanks and highlights the challenges they face in Europe.

Success Stories and Challenges

  • Epicenter aims to create more frequent and impactful success stories in influencing policies towards a classical liberal direction.
  • While some reforms have been implemented, overall, it remains a challenging environment for classical liberal think tanks in Europe.
  • The speaker emphasizes the need to prevent negative developments and push for policy changes that align with their ideology.

01:14:48 Competition in Central Banking Monetary Policy

Section Overview: The speaker explores their opinion on competition in central banking monetary policy and its relation to printing money and inflation.

Printing Money and Inflation

  • The speaker agrees that printing money contributes to inflation, which has become evident during times like the COVID-19 pandemic when governments issued checks to individuals.
  • They acknowledge that increasing the money supply decreases purchasing power, leading to inflation.
  • The discussion touches on how government actions can impact inflation rates.

Note: Timestamps are approximate.

01:16:38 Schooling and Inflation

Section Overview: The speaker discusses the issue of schooling and how it has not improved, but rather worsened over time. They also mention the problem of inflation and how free marketers have been warning about it for a long time.

Schooling and Inflation

  • Schooling has not improved and has even gotten worse over time.
  • Free marketers have been warning about inflation for a long time.
  • Central banks’ balance sheets have massively increased since the 2008 financial crisis.
  • Inflation happened later than expected due to the belief that certain countries like the US could get away with more.
  • The UK learned this lesson during Brexit, realizing they couldn’t get away with as much as the EU or US due to their size.

01:17:18 Tackling the Problem

Section Overview: The speaker acknowledges that tackling these issues is not easy. They discuss potential solutions such as competition between currencies and the idea of new digital currencies independent of governments. However, they note that current digital currencies are still volatile, making them less ideal for daily transactions.

Tackling the Problem

  • The problems of schooling and inflation need to be addressed.
  • Potential solutions include competition between currencies and new digital currencies independent of governments.
  • Current digital currencies like Bitcoin or Ethereum are too volatile for daily transactions.
  • Regulators can potentially harm new digital currencies if they regulate or ban them poorly.

01:19:10 Concerns about Digital Currencies

Section Overview: The speaker expresses concerns about regulators touching digital currencies. They worry that governments may adopt similar technologies themselves, leading to potential harm for free marketers and classical liberals. They also highlight privacy concerns if central banks introduce a digital currency that tracks all spending.

Concerns about Digital Currencies

  • Regulators touching digital currencies can potentially harm their development.
  • Governments adopting similar technologies may not be beneficial for free marketers and classical liberals.
  • Privacy concerns arise if central banks introduce a digital currency that tracks all spending.
  • The speaker is pessimistic about the impact of government involvement in digital currencies.

01:20:00 Bitcoin vs. Central Bank Digital Currencies (CBDCs)

Section Overview: The speaker reflects on the importance of Bitcoin as a decentralized currency compared to centralized government money. They emphasize that Bitcoin’s resistance to censorship makes it stand out among other cryptocurrencies. They also discuss the potential need for Bitcoin when CBDCs restrict certain transactions.

Bitcoin vs. Central Bank Digital Currencies (CBDCs)

  • Bitcoin’s main purpose is to provide decentralized money in contrast to centralized government money.
  • Other cryptocurrencies are not as censorship-resistant as Bitcoin.
  • When CBDCs restrict certain transactions, the need for Bitcoin becomes evident.
  • The speaker mentions the potential use of illegal markets if restrictions are imposed on daily use of digital currencies.

01:21:26 Impact of Bans on Adoption

Section Overview: The speaker discusses how bans or restrictions on digital currencies can limit their adoption and push users towards black markets. They draw parallels with the legalization of marijuana and highlight the importance of easy daily use for widespread adoption.

Impact of Bans on Adoption

  • Bans or restrictions on digital currencies can limit their easy daily use and adoption.
  • Black markets may emerge if governments impose restrictions on digital currency trade within their jurisdiction.
  • Easy daily use is crucial for widespread adoption among the general population.
  • The speaker acknowledges that bans may not completely eliminate technology but will hinder its effective use.

Note: Due to limitations in available transcript content, this summary may not capture all aspects discussed in the video.

01:23:09 The Impact of Centrally Planned Economy

Section Overview: In this section, the speaker discusses the influence of a centrally planned economy on various aspects and expresses curiosity about how things would be different in a free market.

Theories on Free Market

  • The speaker acknowledges that many issues arise from a centrally planned economy.
  • Expresses curiosity about what would happen in a free market.
  • Mentions having personal theories on how the free market would function.

01:23:31 Optimism for Bitcoin and Freedom

Section Overview: This section focuses on the speaker’s optimism regarding Bitcoin and its potential to promote freedom.

Optimism for Bitcoin

  • Expresses optimism for Bitcoin as it promotes freedom.
  • Compares it to other things that promote freedom.
  • Believes that everyone desires freedom, including freedom to transact and freedom of movement.

01:23:52 Historical Perspective on Freedom

Section Overview: Here, the speaker reflects on historical examples of countries that embraced freedom and became successful.

Founding of America

  • Points out that America initially appeared as a country founded on principles of freedom.
  • Highlights America’s growth into the biggest and most incredible country in the world.
  • Suggests that similar growth can occur with technologies like Bitcoin if they become widely adopted.

01:24:12 Potential Impact of CBDCs

Section Overview: This section explores the potential impact of central bank digital currencies (CBDCs) and their effect on people’s desire for alternatives like Bitcoin.

CBDC Adoption

  • Speculates that if CBDCs are forced upon people and prove successful, there will be a significant drive for alternative options.
  • Raises concerns about limitations imposed by CBDCs, such as restrictions on certain transactions.
  • Predicts that people will seek alternatives when cash is replaced by CBDCs.

01:24:33 Niche Market and Hope for Digital Currencies

Section Overview: The speaker discusses the current status of digital currencies and expresses hope for a competitive free market with various currency options.

Niche Market

  • Considers the current market for digital currencies to be relatively small.
  • Expresses hope for a broader range of decentralized currencies in a free market.
  • Believes that Bitcoin has good potential but hopes for competition among different types of currencies.

01:24:51 Techno Optimism and Regulatory Concerns

Section Overview: This section explores differing perspectives on the future of decentralized technologies, including optimism and concerns about regulatory challenges.

Techno Optimism

  • Discusses the possibility of moving towards a more decentralized system within 10 to 5 years.
  • Acknowledges differing levels of optimism, with some being more cautious about regulatory affairs surrounding decentralized technologies.

01:25:30 Challenges from Regulatory Affairs

Section Overview: The speaker expresses concern about how regulatory affairs may pose challenges to the adoption and acceptance of decentralized technologies.

Regulatory Challenges

  • Highlights that policy makers and institutional structures may feel threatened by decentralized technologies.
  • Suggests that challenging their power could make it difficult to gain acceptance from regulators.

01:25:52 Unstoppable Transactions and Freedom

Section Overview: This section draws parallels between Elon Musk colonizing Mars and the unstoppable nature of Bitcoin transactions, emphasizing the importance of transactional freedom.

Colonizing Mars Analogy

  • Draws an analogy between Elon Musk colonizing Mars despite government regulations and Bitcoin’s ability to facilitate transactions regardless of legality.
  • Highlights the inability to stop transactions as a source of hope for promoting freedom.

01:26:15 Expressing Value and Decentralized Currency

Section Overview: The speaker discusses the importance of expressing value and how decentralized currency can provide clarity in economic transactions.

Importance of Expressing Value

  • Emphasizes that the ability to express value is crucial for a functioning economy.
  • Considers transactional freedom closely aligned with movement as essential for a clear understanding of value.
  • Suggests that centralized currency distorts market signals, leading to confusion about the worth of goods and assets.

01:27:31 Issues with Centralized Money Creation

Section Overview: This section delves into the problems associated with centralized money creation and its impact on economic stability.

Distortion from Centralized Money Creation

  • Criticizes those in charge of creating money for issuing excessive amounts, leading to distorted values.
  • Compares current situations where money is easily created to historical practices like war bonds.
  • Acknowledges the temptation to create more money but highlights its negative consequences.

01:28:25 Historical Perspective on Coins

Section Overview: This section explores the historical issuance of coins by monarchs and their dependence on available resources.

Historical Coin Issuance

  • Traces the history of coin issuance by queens and kings throughout time, starting with gold, then silver, and bronze.
  • Notes that the value of coins was determined by what these monarchs could afford to produce.

01:29:08 The Importance of Auditing in the Digital Currency World

Section Overview: In this section, the speaker discusses the challenges of detecting scams and fraud in traditional forms of currency like gold. They highlight the benefits of digital decentralized currencies, such as Bitcoin, which can be audited by individuals to ensure authenticity.

Auditing Digital Decentralized Currencies

  • 01:29:33 The speaker mentions that they have a Bitcoin node running at their house, which continuously audits the currency. This allows them to verify if they are receiving a genuine Bitcoin.
  • 01:29:53 Unlike physical assets like gold bars, where one needs specialized devices to test for authenticity, auditing digital currencies like Bitcoin is more accessible and transparent.
  • 01:30:12 However, the adoption of digital decentralized currencies is still limited compared to traditional fiat money systems. Many people may not know how to check the validity of cryptocurrencies.

01:31:10 Exploring Different Paths for Influencing Change

Section Overview: In this section, the speaker reflects on different avenues for influencing change in society. They discuss options such as academia, politics, and working for a think tank.

Choosing Paths for Influence

  • 01:31:24 The speaker poses a hypothetical scenario where they are granted a one-year sabbatical with all expenses paid. They contemplate whether they would choose academia or politics to bring about change.
  • 01:31:46 While acknowledging the importance of both ideas and actions in effecting change, the speaker admits that they do not consider themselves an academic or someone suited for politics.
  • 01:32:22 Instead, they express gratitude for being part of a think tank where they can contribute intellectually while also having an impact on policy-making.

01:33:08 The Significance of Ideas in the Modern World

Section Overview: In this section, the speaker emphasizes the importance of ideas and how they shape our lives. They discuss the democratization of ideas through the internet and its impact on society.

The Power of Ideas

  • 01:33:28 The speaker believes that working in the realm of ideas is crucial and considers it to be at the cutting edge of societal progress.
  • 01:33:49 They suggest that we may be experiencing a renaissance of ideas, particularly due to the internet’s explosion of information and access to knowledge.
  • 01:34:09 The democratization of ideas has transformed society, allowing people from all walks of life to engage in intellectual discourse and contribute to shaping the world.

Note: This summary covers selected sections from the transcript.

01:35:18 The Importance of Individual Agency

Section Overview: In this section, the speaker discusses the idea of individual agency and its historical significance. They also explore how this idea is becoming more accessible to people today.

The Idea of Individual Agency

  • The Enlightenment introduced the concept that humans are in charge of their own fate, regardless of religious beliefs.
  • This idea has been around for at least 2,000 years and emphasizes the sacred nature of the individual.
  • While this idea has always existed, it is now appearing to more and more people in society.

Manifestation of Ideas

  • The speaker questions whether activities like dancing on TikTok can be seen as a manifestation of the idea of individual agency.
  • Dance can be a form of self-expression and may resonate with some individuals as a way to assert their own control over their lives.

Access to Knowledge and Opportunities

  • People now have greater opportunities to pursue intellectual pursuits due to advancements in technology and globalization.
  • Unlike in the past, where only a small elite had access to education and international travel, today’s global middle class has more chances for personal growth.
  • The internet provides vast knowledge resources that were previously inaccessible, allowing interested individuals to explore various ideas.

Potential Challenges for Those in Power

  • The increasing empowerment of individuals through access to information and opportunities may pose a threat to those in power.
  • Policymakers are grappling with how to regulate the internet while protecting users from disinformation or harmful content.
  • There is a concern that excessive regulation could lead to censorship and limit freedom of speech.

01:37:32 Balancing Freedom of Speech with Regulation

Section Overview: In this section, the speaker discusses concerns about regulating speech on the internet. They argue against excessive government control over acceptable speech while acknowledging the need for countering malicious actors.

Threats to Those in Power

  • The global middle class, empowered by the internet, is seen as a threat to those in power.
  • The democratization of ideas and collaboration through the internet challenges traditional power structures.

Paradigm Shift in Regulation

  • There has been a significant shift in how policymakers approach internet regulation compared to 30 years ago.
  • Even in free societies like the US, UK, and Europe, there is a tendency to prioritize protection over freely available information.

Worrisome Regulatory Tendency

  • Policymakers often focus on protecting users from disinformation and harmful content.
  • However, this can lead to excessive regulation that limits freedom of speech and access to diverse perspectives.

Free Speech Absolutism

  • The speaker advocates for a more liberal approach to free speech, allowing different narratives and countering misinformation through open dialogue.
  • They express concern about governments deciding what constitutes acceptable speech and potentially censoring information.

01:40:13 Challenges of Determining Truth and Censorship

Section Overview: In this section, the speaker discusses the challenges of determining truth and the potential consequences of censorship. They highlight their disagreement with RT’s narrative while emphasizing the importance of not becoming an ultimate arbitrator of truth.

Difficulty in Determining Truth

  • While it may be clear that certain outlets like RT spread lies, determining truth becomes more challenging with other sources that are less extreme.
  • Relying on someone as an ultimate arbitrator of truth can lead to subjective judgments and potential biases.

Concerns about Censorship

  • The speaker disagrees with limiting access to websites like RT.com despite disagreeing with their narratives.
  • They argue against excessive government control over acceptable speech and emphasize the need for open dialogue instead.

Struggle for Acceptance

  • People may struggle to accept that acknowledging falsehood does not mean advocating for censorship.
  • The speaker emphasizes the importance of allowing different perspectives and engaging in critical thinking.

Note: The transcript provided does not include any timestamps beyond 1:41:18.


Section Overview: The speaker expresses gratitude and concludes the conversation.


  • The speaker expresses a desire to continue the conversation but acknowledges the length of time.
  • Thanks Adam for the enlightening discussion.
  • Expresses gratitude for Adam’s visit.