Taking a stand for economic literacy and challenging moral critiques of business.

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** Econlib Newsletter
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October 2024
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Welcome to the October 2024 edition of the Econlib Newsletter! This month, we've featured an array of thought-provoking content that explores pressing economic issues and timeless principles. We were pleased to see, for example, so many readers dug into Adam Smith’s classic work of political economy, An Inquiry Into the Nature and Causes of the Wealth of Nations ([link removed]) (and hopefully considered the excellent companion Reading Guide ([link removed]) from AdamSmithWorks alongside it). We also delved into the economics of parenting at EconTalk ([link removed]) , with neuroscientist Erik Hoel making a compelling case for how having children can enrich one's worldview and life experience.

At EconLog, David Henderson shared his weekly reading recommendations, covering topics from comparative advantage to the incentives facing dictators. Kevin Corcoran

offered an intuitive explanation ([link removed]) of how price changes influence consumer behavior, particularly regarding labor markets. Scott Sumner discussed different monetary policies ([link removed]) and their implications for international investors, providing insights into the complexities of global finance. As always, we especially enjoy reading the comments you, our readers, add to the conversation.

Today, we bring you a new take on tribalism at EconTalk, and our new crop of monthly articles from Arnold Kling, Gregory Robson, Michael Munger, and David Henderson. We hope these leave you with plenty of food for thought.

As always, we aim to provide you with diverse, insightful, and accessible economic analysis to help you better understand the world around us.

The Econlib Team

P.S. Don’t forget to follow our daily updates on social media, including our NEW Instagram ([link removed]) account.


** NEW Econlib Articles
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October 2024

Can We Morally Assess Business?

By Gregory Robson

One hears so much about how businesses are greedy, selfish, wasteful, and evil, with little reference to the nature and value of firms, that one might understandably begin to think that business itself, among human institutions, is especially susceptible to grave immorality.

Not so. Businesses are clearly immoral at times, sometimes grievously so. But they should not be singled out as especially bad or evil.
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Capitalism, Corruption, and the Ugly Pig

By Michael Munger

In this thought-provoking book review, Michael Munger explores the inherent tension between capitalism and the democratic push for "equality of outcomes." He dives into how the pursuit of social justice, often framed as equity, can challenge the core principles of a free market.
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The Wrong Road to Freedom

By David Henderson

In his new book review, David Henderson suggests Nobel laureate Joseph Stiglitz’s new book is very much not a roadmap to freedom. In his review, Henderson explores the potential pitfalls of the push for industrial policy and government intervention in the economy. He argues that this approach threatens innovation, competition, and long-term economic growth. Henderson lays out a compelling case for why policymakers should reconsider taking this risky path.

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Beware of Economic Misconceptions

By Arnold Kling

In this new article, Arnold Kling breaks down prevalent economic misconceptions, shedding light on why people often misunderstand key economic concepts like opportunity cost, market dynamics, and the role of incentives. Kling provides insightful analysis to help clear up these misunderstandings and improve economic literacy.

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** EconTalk: Conversation for the Curious
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Reclaiming Tribalism

with Michael Morris

Is tribalism destroying democracy? According to cultural psychologist Michael Morris ([link removed]) of Columbia University, just the opposite may be the case. As he explains in his new book, Tribal, our tribal instincts can also be the source of our success--in politics, society, business, and even professional sports. Listen as Morris and EconTalk's Russ Roberts ([link removed]) discuss real examples of how smart leaders pulled tribal levers to improve performance, solve stubborn problems, and create positive change.

Explore more. ([link removed])

More Recent Episodes & Extras:
* Extra: Real-Life Economics: Rational or Complex? ([link removed]) by Tawni Hunt Ferrarini
* The Underrated Bruno Leoni (with Michael Munger) ([link removed])
* The Mysterious World of Owls (with Jennifer Ackerman) ([link removed])
* Extra: Be AWED by Childhood ([link removed]) , by Amy Willis
* What Modern Medicine Gets Wrong (with Marty Makary) ([link removed])
* Is Israel Winning the War in Gaza? (with Andrew Fox) ([link removed])
* The Problems of Boys and Men in Today's America (with Richard Reeves) ([link removed])


** From the Shelf with curator Arnold Kling
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** The Social Instinct: How Cooperation Shaped the World
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** by Nichola Raihani
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**
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Join Arnold Kling with special guest Bart Wilson as they discuss Raihani’s book on human evolution, and why cooperation is key to our future survival.

Read Kling’s review. ([link removed])

See previous episodes of From the Shelf. ([link removed])


**
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October 29, 2024 1-2 pm EDT

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