Adam Smith Institute

Tucked into a narrow street in Westminster, a few minutes' walk from Parliament, the Adam Smith Institute has spent nearly five decades turning radical free-market ideas into mainstream policy. Founded in 1977 by three young doctors of philosophy, the institute became a key intellectual engine for Margaret Thatcher's privatization wave in the 1980s. Its president, Madsen Pirie, famously described its proposals as being "on the edge of lunacy" that soon become "on the edge of policy."

The institute's current research agenda rests on three pillars: Abundance (planning reform, energy, transport), Freedom (speech, association, digital sovereignty), and Responsibility (smaller state, lower taxes). In 2026, it marks the 250th anniversary of Adam Smith's The Wealth of Nations with a graphic novel adaptation written by co-founder Eamonn Butler and a lecture series featuring figures like Rory Sutherland. The organization also runs the annual Tax Freedom Day campaign, calculates the date when the average worker has paid off their tax bill, and publishes a lively blog.

Funding comes from private donations and corporate contributions, but the institute has faced criticism for its opacity. A 2011 report ranked it among the least transparent UK think tanks, revealing that 3% of its income came from the tobacco industry. Despite this, it remains a prominent voice in British policy debates, advocating for lower taxes, deregulation, and a smaller state. [edit]