Institute of Economic Affairs, London | Week 5 – The Final Walk Through Westminster

Nicholas Todd

Week 5 was the final week of my internship with the IEA and although not as eventful as last week, there was certainly no shortage of things to do. It was back to business with guns blazing towards the finish line with any and all lose ends needing to be tied up. I worked through the final stages of my research report on gambling legislation which involved discussion with Chris Snowden about the effectiveness and morality of gambling laws in the UK. This has been a great opportunity to write a detailed piece under the guidance and support of a top tier think tank researcher, while also being an excellent opportunity to put my tertiary studies to the test.

From my economic understandings, I have been able to talk about the operation of black markets within an industry where governments create control through regulation, examining the inelasticity of demand for gambling when people suffer from an addiction to it. Based on my legal knowledge I have been able to investigate the different laws in the UK and how they have changed over time as well as what type of impact they would actually have on the market. Overall the opportunity to work on this report has been an extremely stimulating and worthwhile experience and the glamour of London and calibre of people working at the IEA have certainly made a massive contribution to this journey. The support and dedication of the team at the IEA, especially from Jamie Legg who currently co-ordinates internships, has been truly excellent and I am extremely grateful.

I wanted to make the last London experience I had outside the internship special and iconic, so I decided to go to Buckingham Palace which was completely surreal. I would not consider myself to be a “royalist” but I certainly have a soft spot for history and I was blown away by the original portraits of famous monarchs throughout the ages and ancient relics collected over centuries. It was a truly awe inspiring experience for me as roughly one year ago today I attended the Samuel Griffith Society Conference in Perth with the Mannkal team which included a similar style tour of Government House in Perth – an equally amazing building in its own right. Being able to compare these experiences and the history as well as connection between the two landmarks was eye opening to how small the world really is. I would like to thank Ron Manners and the Mannkal team for these incredible opportunities, and Buckingham Palace seemed a fitting cherry on top of a once-in-a-lifetime experience.