Can ideas trigger meaningful social change? Can price controls fix inflation? And more...

Econlib Newsletter
September 2022
Another academic year is in full swing, and we're ready as ever here at Econlib. Let's take a look at what we've got for you this month.

One of the most anticipated EconTalk releases ever dropped last week- Russ' conversation with novelist Amor Towles ([link removed]) . If you haven't yet read his A Gentleman in Moscow, you're missing a uniquely lovely experience. Of course Russ' own book, Wild Problems, was released this past month as well, and we've got Mike Munger's and Tim Ferriss' interviews with Russ, as well as a review from Arnold Kling.

And speaking of Kling's review, last month we quietly introduced a new feature, inviting readers to an online discussion with Kling and friends about the book he'd just reviewed. That means this month you can join Kling to discuss Russ' book. The webinar will be held on Wednesday, September 21 from 1-2pm EST. Registration is free, but required. Click here to secure your spot ([link removed]) . We hope to see you there!

2022 also marks the 100th anniversary of the publication of Ludwig von Mises' Socialism: An Economic and Sociological Analysis. Our friends at the Online Library of Liberty have commemorated it with an ongoing Liberty Matters discussion ([link removed]) you won't want to miss. Virgil Storr is joined by Clemens Schneider, Yana Chernak, and our very own Alberto Mingardi.

Lots of great new posts have gone up at EconLog ([link removed]) , with many new contributors. Stop by every day to see the latest and enter the conversation in our moderated Comments section. We love to hear from you!

Until next month, stay well, and stay curious.

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NEW Econlib Articles: September 2022
[link removed]

Ideas Trigger Change
By Lars Peder Nordbakken
and Leonidas Zelmanovitz


"Since the moment that social change became (again) accepted as a proper object of economic analysis in the second half of the nineteenth century, a debate about the nature and the causes of those changes ensued.

The idea of how to promote economic growth soon crystallized around two causes: institutions and culture." Read More ([link removed]) . ([link removed])

Can Price Controls Fight Inflation?
By Rosolino Candela

Whether or not price controls “work” to fight inflation, the question has broader implications for our understanding of basic price theory... to conclude that price controls are an effective means to combat inflation is incorrectly based on an unrealistic and faulty understanding of prices as a set of marching orders to which individuals passively respond. Read More. ([link removed])
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Enron’s Collapse at 20:
Three Myths in Search of an Historian
By Roger Donway
"I return every year to read those reporters’ annual remembrances out of curiosity: I want to see whether any of the major Enron journalists have been able to move beyond their “first rough draft” of the story. I want to see if any of them have come to realize that they got the Enron narrative fundamentally wrong, and thus got wrong one of the central symbolic stories of modern capitalism. The short answer is no, every year." Read More ([link removed]) . ([link removed])

When Cost-Benefit Analysis Fails
By Arnold Kling

Russ Roberts spent most of his career as an economist. Accordingly, you might expect Wild Problems to include a lot of the methods of economics: choices based on costs and benefits; risk-reward trade-offs; data-driven analysis and statistical modeling.

But Roberts deliberately discards the standard economic tool kit for dealing with these problems. Read More. ([link removed])


** Econlib Guides
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Curated resources at your fingertips.
We all need help sometimes finding just the right explanation or answer to a question. That's why we created Econlib Guides ([link removed]) . Whether it's how to explain a tricky concept to a student, what to red next on a particular topic, or a guided entry into the economic way of thinking, we've got you covered. This month, this section has a new look; we hope you find it useful and easy to navigate.

Let us know if you like what you see, or what else you'd like to see.


** POPULAR GUIDES
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* Productivity ([link removed])
* Aggregate Demand ([link removed])
* Price Ceilings and Floors ([link removed])
* Comparative Advantage and the Benefits of Trade ([link removed])


** RESOURCES
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* Reading Lists by Topic ([link removed])
* College Economics Topics ([link removed])
* High School Economics Topics ([link removed])
* 10 Key Ideas: Opening the Door to the Economic Way of Thinking ([link removed])

EconTalk: Conversations for the Curious

Amor Towles on
A Gentleman in Moscow
and the Writer's Craft
Author Amor Towles ([link removed]) talks about his book, A Gentleman in Moscow, with EconTalk host Russ Roberts ([link removed]) . Along the way they discuss the craft of writing, the wellsprings of persistence, and Towles's reading habits. Explore more ([link removed]) .

More Recent Episodes:
* Raj Chetty on Economic Mobility ([link removed])
* Tyler Cowen on Talent ([link removed])
* Russ Roberts and Mike Munger on Wild Problems ([link removed]) (And don't miss Russ' appearance ([link removed]) on the Tim Ferriss show.)
* Gerd Gigerenzer on How to Stay Smart in a Smart World ([link removed])

Explore EconTalk-Extras ([link removed]) on select episodes.


One Session Virtual Reading Group
Teaching in the Spirit of Liberty ([link removed])
How can we ensure that the free market remains a relevant alternative to the myriad of government interventions and regulations that are often the focus of the diagramming, policy analysis, and calculations that dominate the Advanced Placement, International Baccalaureate, and Introduction to Micro and Macro courses at colleges?

Adam Smith described free markets as "an obvious and simple system of natural liberty." He did not favor the landowner, the factory owner, or the worker, but rather all of society. He saw, however, self-defeating forces at work, preventing the full operation of the free market and undermining the wealth of all nations.
Let’s discuss how we can promote Smith's spirit of liberty and our responsibility in our classrooms to inspire student inquiry and attention to becoming free and responsible individuals in our global society.

Pre-registration is required ([link removed]) . The required readings are available online.

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