Have Americans given up on free markets???

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Econlib Newsletter
November 2022

'Tis the season to be grateful, and, as always, the Econlib team is especially grateful to YOU. More specifically, we're thankful for all the ways in which we've been able to foster deeper connections with so many of you over the past year. We're always open to your suggestions! If you have an idea for an online program, if you're interested in contributing your own work to Econlib, or have feedback for us on what we're doing now, we'd love to hear from you.

We're going into our final month of reading with Peter Boettke in our No Due Date subscription book club. We've had such a great experience, we're going to run it again in 2023. This month, subscribers are reading the dystopian novel Red Plenty, and next month we'll be reading Hayek on Hayek. Each month, subscribers are treated to online salons with Boettke, and he often brings in authors and other scholars to discuss that month's selection. Early in the year, for example, he discussed the legacy of James Buchanan with Mike Munger, also featured this month (for the 43rd time!) at EconTalk. Make plans to join us next year for terrific reading selections and even better company.

For the past three months, Arnold Kling has hosted a webinar to discuss the books he's reviewed that month for Econlib. In August, Max Borders (author of one of this month's Feature Articles) joined Kling to discuss The Network State. John Alcorn and Jerry Muller joined Kling in September to discuss EconTalk host Russ Roberts's new book, Wild Problems. And last month. John Cochrane and Kling discussed Alan Blinder's new memoir and the Macro Wars. Read Kling's latest review (see below) and stay tuned for details on our next webinar. All are invited; we ask only that you register in advance.

Lots of great new posts have gone up at EconLog, with more 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.

NEW Econlib Articles
November 2022

Monopoly and Barriers to Entry:
Old Wine in New Bottles

By Rosolino Candela

On the occasion of the 75th anniversary of the founding of the Mont Pelerin Society, Rosolino Candela reflects on the role of economic in policy-making, agreeing with Mark Twain that, "“history never repeats itself, but it does often rhyme.” Specifically, he looks to antitrust regulation of digital platforms, which he sees as a new application of an old- and long discredited- argument. Read More.

Can We Have Welfare
Without the Threat of Violence?
By Max Borders

Max Borders asks us to imagine a wizard has cast a spell of nonviolence. Under this spell, no one can threaten or commit any act that injures another person or their property...It doesn’t matter whether the perpetrator thinks he is using violence to serve good or evil. The fact is, the spell ensures a condition of complete nonviolence in society.

What should we make of this? Would the realm be better off under the wizard’s spell? If the wizard used magic such that officials had to abstain from violence, how would authorities implement redistribution schemes? Specifically, how would authorities tax the rich to give to the poor? Read More .

Where Is the Free
Market Utopia?
By Art Carden

Has America given up on free markets? In this book review, Art Carden examines Thomas Philppon's claim that while Americans have given up, Europe has embraced free markets, and now "pay less and get more in a lot of industries, like telecommunications and air travel." Read More.

A Memoir and a Manifesto

By Arnold Kling

How can young entrepreneurs with the most potential be identified and encouraged? Michael Gibson worked with Peter Thiel to try to do just that. In this book review, Arnold Kling follows his journey, and embraces his manifesto- laced with pessimism about the state of higher education today. Read More.

EconTalk: Conversations for the Curious

Michael Munger on Industrial Policy

Economist and political scientist Michael Munger of Duke University talks about industrial policy with EconTalk host Russ Roberts. Munger argues that in a democracy, the default outcome for industrial policy is crony capitalism--attempts to improve on that outcome either by appointing experts or eliminating cronyism are going to fail for political reasons. The conversation concludes with a discussion of the reliability of Munger's claim and what options are left for dissatisfied reformers. Explore more.

More Recent Episodes:

Enjoying EconTalk? You might also like The Great Antidote podcast at AdamSmithWorks. Recent episodes include:

Upcoming Virtual Reading Groups

Star Trek and Adam Smith's
Moral Sentiments

How does The Theory of Moral Sentiments help us think through the moral dilemmas in Star Trek? How does Star Trek help us understand The Theory of Moral Sentiments? Join economist James Hartley in this Virtual Reading Group where we will look at these two works together as a means of thinking about questions of individual behavior and the construct of society. Pre-registration is required.

John Stuart Mill "On the Liberty of Thought and Discussion"

Please join us for a one-day-only Virtual Reading Group to discuss J.S. Mill “On the Liberty of Thought and Discussion," with Liberty Fund Senior Fellow Sarah Skwire. Pre-registration is required.

Copyright © 2022, Liberty Fund, Inc. All rights reserved.

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