  the institute of economic affairs (iea) is a free market think tank in london, united kingdom. founded in 1955, its stated 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." ==history & founding== in 1945, antony fisher read a summary of the road to serfdom by friedrich hayek in the april issue of readerâs digest.http://www.cblpi.org/ftp/econ/roadtoserfdom_readersdigest_and_cartoon_versions.pdf later that year, fisher visited hayek at the london school of economics.http://www.iea.org.uk/sites/default/files/chronology.pdf hayek dissuaded fisher from embarking on a political and parliamentary career to try to prevent the spread of socialism and central planning. instead, hayek suggested the establishment of a body which could engage in research and reach the intellectuals with reasoned argument. in june 1955, the free convertibility of sterling by george winder was published, with fisher signing the foreword as director of the iea. in november 1955, the ieaâs original trust deed was signed by fisher, john harding and oliver smedley. ralph harris (later lord harris) began work as part-time general director in january 1957. he was joined in 1958 by arthur seldon who was initially appointed editorial advisor and became the editorial director in 1959. ==influence== andrew marr called the institute "undoubtedly the most influential think tank in modern british history".andrew marr bbc 2007 a history of modern britain the social affairs unit was established in december 1980 as an offshoot of the institute of economic affairs in order to carry the iea's economic ideas onto the battleground of sociology. "within a few years the social affairs unit became independent from the iea, acquiring its own premises." in 1986 the iea created a health and welfare unit to focus on these aspects of social policy. ==funding== the iea is a registered educational and research charity.
1955_establishments_in_the_United_Kingdom Non-profit_organisations_based_in_London Political_and_economic_think_tanks_based_in_the_United_Kingdom