A James Buchanan Classic, democracy for busy people, and more.

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** Econlib Newsletter
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December 2024
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As we enjoy this season of gratitude, we want to thank YOU—our readers, thinkers, and community members—for making Econlib a hub for lively discussions and intellectual growth. Your engagement fuels our work and the ideas that drive economics forward.

This month, in addition to the release of our NEW Feature Articles and EconTalk episodes below, we’re spotlighting some of the most popular and thought-provoking pieces from EconLog:

📝 In his post Mississippi, Vietnam, and Human Decency ([link removed]) , Pierre Lemieux argues that economic illiteracy can lead to a lack of human decency. With a better understanding of concepts like trade deficits, Lemieux suggests that individuals and governments can make more informed and humane decisions regarding international trade and economic policies.

📝In Fine Tuning Policy ([link removed]) , Kevin Corcoran argues that a series of small, well-intentioned policy changes have cumulatively led to a complex and inefficient system, suggesting that even modest interventions can produce unintended negative consequences.

📝 Professor Bryan Cutsinger continues our new series of Price Theory problems ([link removed]) . The answer to the latest is soon to come. Share your suggested solution today!

As always, we’d love to hear from you! Share your thoughts in the comments or on social media. Let’s keep the conversation going.

With gratitude,
The Econlib Team


** NEW Econlib Articles
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November 2024

Cost and Choice: Insights for Choosers

By Byron Carson

What do economists, policymakers, and everyday decision-makers often overlook? James Buchanan's Cost and Choice reveals the crucial role of subjective opportunity costs in shaping real-world choices.

In this Liberty Classic, Carson explores Buchanan's critique of economic science, highlighting how faulty notions of cost can lead to flawed policies and stifle human flourishing.
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Seeking Truth versus Seeking Esteem

By Arnold Kling

Arnold Kling dives into Michael Huemer's latest book, where myths driving progressive ideology are unpacked and scrutinized. From systemic racism to economic mobility, Huemer invites readers to challenge assumptions and embrace skepticism.

Why should we prioritize truth over ideological tribalism? Huemer and Kling provide thoughtful answers, urging us to become more critical thinkers.

Don’t miss our From the Shelf conversation ([link removed]) on this title in January! See below for details.
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Freedom in Hong Kong: The Sweet and the Sour

By Alvin Rabushka

This compelling article from one of the pioneers of indexing freedom dives into the paradox of Hong Kong: a global leader in economic freedom yet facing sharp declines in personal liberties. Rabushka explores the historical foundations of Hong Kong's free-market success, its constitutional guarantees, and the troubling erosion of civil rights under China's governance. What does the future hold for this once-thriving beacon of freedom?
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Democracy's

Opportunity Cost

By Janet Bufton

How can democracy thrive when life is busier than ever? Kevin J. Elliott's latest book tackles this question head-on, exploring how institutions can adapt to ensure everyone’s voice is heard—even those with the least time to spare.

Bufton praises Elliott’s notion of "stand-by citizenship," while acknowledging the realities of political reform in a liberal democracy.
Read More ([link removed])


** EconTalk: Conversation for the Curious
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Translating Life and Fate

with Robert Chandler

What does it take to translate a 900-page Russian novel written before the fall of the Soviet Union? For a start, it means learning what the Soviet censor cut and changed in the Russian original. It also means living in a seaside cottage for four months to immerse yourself completely in the characters' lives and meet your publisher's deadline. Listen as Robert Chandler, the translator of Vasily Grossman's Life and Fate, speaks with EconTalk's Russ Roberts ([link removed]) about the challenges of bringing a sprawling Russian classic to English-speaking readers.

Explore more. ([link removed])

More Recent Episodes & Extras:
* Tyler Cowen on Life and Fate ([link removed])
* Terrorism, Israel, and Dreams of Peace (with Haviv Rettig Gur) ([link removed])
* Who Needs Miracles? On Nature and the Miraculous (with Alan Lightman) ([link removed])
* Give Away a Kidney? Are You Crazy? (with filmmaker Penny Lane) ([link removed])
* EXTRA: Bearing Witness to War ([link removed]) (Claudia Hauer) by Nancy Vander Veer
* Susan Cain on Bittersweet and the Happiness of Melancholy ([link removed])
* EXTRA: The Good Old Days Weren't So Great ([link removed]) (Noah Smith), by Alice Temnick


** From the Shelf with curator Arnold Kling
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** Progressive Myths
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** by Michael Huemer
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**
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Join Arnold Kling with economist Bryan Caplan and philosopher Rachel Ferguson as they discuss Huemer’s book on progressive myths, why they are popular, how they can be harmful, and how to avoid them.

Read Kling’s review. ([link removed])

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


**
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January 22, 2025 3-4 pm EST

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