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EconLib Newsletter
February 2021


Dear friends,

In this, the shortest month of the year (is that even conceivable in this still pandemic-ridden 2021???), we're ramping up our efforts to connect with you, our most loyal friends. Our greatest goal this year is to build deeper connections and foster more constructive conversations. We hope you'll join us!

To that end, we're increasing the frequency of our popular Virtual Reading Groups. As part of that effort, this spring you'll see new VRGs hosted by our sister site, the Online Library of Liberty ([link removed]) . If you haven't visited their site lately, they've got a fresh new design and have been adding new features. We think you'll like it! And take a moment to check out their Liberty Matters ([link removed]) forums; you'll find topics like the legacy of James Buchanan ([link removed]) , Marx and the Morality of Capitalism ([link removed]) , and Mises on Interventionism ([link removed]) .

We're making an effort to reach out to you in different and more specific ways. Last month, we launched our new #TeachEcon newsletter ([link removed]) , and we opened an EconTalk Books group ([link removed]) at Goodreads. We're still collecting responses in our annual EconTalk Listener Survey ([link removed]) , so if you haven't filled it out, we hope you'll take a few moments to do so. And finally, we've been having a fantastic time with AdamSmithWorks ([link removed]) as they tweet their way through the entire Wealth of Nations. Don't miss it!

Until next month, we wish you well, and look forward to seeing you online. You can always reach us at [email protected] (mailto:[email protected]) . We love to hear from you.

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NEW Econlib Articles: February 2021

[link removed]

Alternatives to a Burgeoning Bureaucracy: Lessons from Ludwig von Mises's Bureaucracy
by Stefanie Haeffele and Anne Hobson

In the newest Liberty Classic, ([link removed]) Haeffele and Hobson explore Mises's warning against the bureaucratization of political, social, and economic life. His argument stems from the socialist calculation debate of the 1920s and 30s, and carries much resonance with the rise of the administrative state today. Read More. ([link removed])

Understanding Modern Monetary Theory: Part 1
by Scott Sumner


In the first in a series of Articles exploring this very vogue theory, Scott Sumner explores the tenets of Modern Monetary Theory. He demonstrates how its adherents overestimate the role of fiscal policy, while underestimating monetary policy. In next month's follow-up, Sumner will explore the ideology of MMT and why it's so difficult to convey to others. ([link removed]) Read More. ([link removed])

Agreeing to Disagree

by Arnold Kling

"Any cooperative endeavor, from a marriage to a business, to a government, requires people to get along in spite of differences. You cannot just assume that your spouse will always do what you want, that Marketing and Operations will naturally arrive at the same priorities, or that public policy solutions will be transparently obvious to all concerned. For relationships to work, the people involved have to find ways to live with their disagreements.

These cooperative endeavors require trust. Otherwise, politics becomes war by other means." Read More. ([link removed])

Highlights from EconTalk
Scott Newstok on How to Think Like Shakespeare
Author Scott Newstok ([link removed]) of Rhodes College talks about his book, How to Think Like Shakespeare, with EconTalk host Russ Roberts ([link removed]) . Newstok draws on Shakespeare and other great writers and thinkers to explore the nature of education and the life well-lived.

We want to hear more about your experiences with Shakespeare, and how you think Shakespeare might improve education and contribute to a life well-lived. Check out our EconTalk Extra, To Learn to Desire to Learn ([link removed]) ; we love to hear from you.

More Recent Episodes:
* Gary Shiffman on the Economics of Violence ([link removed])
+ Was Osama bin Laden an Entrepreneur? ([link removed]) EconTalk Extra
* Don Boudreaux on Buchanan ([link removed])
+ Economics and Freedom: Not a Math Problem ([link removed]) , EconTalk Extra

And don't forget to complete our annual Listener Survey ([link removed]) . Vote for your favorite episodes of 2020!

Join us for our next Virtual Reading Group:
The Fabric of Civilization: How Textiles Made the World
with Caren Oberg

Participation is offered at no-cost, and there is no need to be an expert on the topic for discussion! The only requirement is that participants be eager to read and engage in conversation. Space is strictly limited, and registration required.

Participants who successfully complete all sessions will receive an e-gift certificate from Amazon.com.

If you are interested, you can find more information here ([link removed]) .

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