Rethinking the role of thinking in economic theory and the relationship between exploitation and prosperity.

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** Econlib Newsletter
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November 2024
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Welcome to our November 2024 newsletter, where we highlight engaging and thought-provoking content from the Library of Economics and Liberty. As always, our goal is to foster informed discussion on economic issues and promote a deeper understanding of how markets and incentives shape our world.

This month, we've seen lively debates on topics ranging from Social Security reform to the nature of government debt. Our contributors have tackled pressing issues in the current presidential campaign, analyzed recent economic data, and explored the long-term implications of various policy choices. Below, we highlight our most-read blog posts, introduce exciting new articles, and recap some of the most engaging reader discussions. Whether you're a long-time follower or new to Econlib, we're confident you'll find something to pique your interest and challenge your thinking.

* A new Nobel prize was awarded last month, and Pierre Lemieux was among those to share his thoughts ([link removed]) on the winners at EconLog.
* Speaking of Nobel prizes, we also celebrated the 50th anniversary of Hayek’s with this piece from Peter Boettke ([link removed]) and a series of Hayek-related podcasts from The Great Antidote ([link removed]) .
* Bryan Cutsinger posted a NEW price theory problem related to electric vehicles, and followed up with his suggested solution ([link removed]) .
* Vincent Geloso challenged the narrative ([link removed]) that the Gilded Age was characterized by great income inequality at EconLog.
* Scott Sumner explored the relationship between real economic shocks and recessions ([link removed]) , offering insights into macroeconomic dynamics at EconLog.

The Econlib Team

P.S. If you want to know even more about what’s happening around our network, subscribe to the NEW weekly newsletter from Liberty Fund ([link removed]) .


** NEW Econlib Articles
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November 2024

Freedom and the Lawmakers

By Alberto Mingardi

Mingardi dives into Supreme Court Justice Neil Gorsuch’s new book, highlighting three examples of how Americans today are being “over-ruled.” Mingardi challenges the reader, “The inescapable lesson of all these examples is that the United States is now “a nation of laws.” Not a nation under the rule of law. Why?”
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Thinking: Both Fundamental and Misunderstood

By Richard B. McKenzie

McKenzie again takes on behaviorists in this new article, in which he argues that thinking has too often been left out of economic models. He insists, “[T]hinking must be understood as the most fundamental of economic problems—bounded by the brain’s scarcity constraints—before economists can address all other real-world economic problems.”

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Conceived in Liberty or Conceived in Sin?

Exploitation and Modern Prosperity

By Art Carden

Art Carden tackles a thought-provoking question: Can voluntary transactions ever be exploitative? He explores the nuances behind fair trade, consent, and economic freedom, challenging us to rethink what it means to "exploit" and where ethical lines are drawn in the marketplace. If both parties benefit, is there any room for exploitation—or is this just part of the natural dynamics of exchange?

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Feeling Lucky

By Arnold Kling

In this insightful review, Arnold Kling delves into the complex interplay between luck and skill. Kling examines Mark Rank’s argument that success often hinges on more than just hard work, asking us to reconsider how we interpret achievement and merit in both life and the marketplace. Is success really a matter of personal effort, or does luck play a bigger role than we like to admit?

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** EconTalk: Conversation for the Curious
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Give Away a Kidney? Are You Crazy? (with filmmaker Penny Lane)

After filmmaker Penny Lane ([link removed]) decided to donate a kidney to a stranger, it took three years and a complex, often infuriating, sometimes terrifying process to make it happen. Along the way, being a filmmaker, she eventually decided to chronicle her experience and explore the question: How can a choice that seems so obvious to the donor seem so strange to everyone else? Listen as she tells EconTalk's Russ Roberts ([link removed]) what she learned, what's still a mystery, and what she hopes we'll all take away from her story.

Explore more. ([link removed])

More Recent Episodes & Extras:
* Susan Cain on Bittersweet and the Happiness of Melancholy ([link removed])
* EconTalk Extra: The Good Old Days Weren't So Great ([link removed]) by Alice Temnick
* Why Housing Is Artificially Expensive and What Can Be Done About It (with Bryan Caplan) ([link removed])
* EconTalk Extra: ([link removed]) Why DON'T We Talk About Bruno? ([link removed]) by Amy Willis
* Reclaiming Tribalism (with Michael Morris) ([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 guests economist Bart Wilson, primatologist Christopher Martin, and philosopher Jack Hope 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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November 12, 2024 1-2 pm EST

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