Original sentence: Founded in 1955, it promotes free market economics.The Institute of Economic Affairs (IEA) is a think tank based in Westminster, London, United Kingdom
Edited sentence: 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.The Institute of Economic Affairs (IEA) is a think tank based in London, United Kingdom, which promotes free market ideas