A student at North Carolina A&T State University waits in line to cast her ballot during early voting in Greensboro, North Carolina, on October 28, 2024. © Jonathan Drake/Reuters/Redux

Why Nobelists Fail

October 31, 2024

Announcements of the Nobel Prize in Economics are generally exciting only for insiders. Few regular folk are conversant in the arcane econometrics and statistical methods that course through the mathematical models of the discipline. This year has been different. The three co-winners have written books in a language that even a non-economist can understand. They aren’t hiding behind formal models. They draw on qualitative approaches, especially theories of institutions. Yet despite all this they are still on shaky intellectual ground, argues Yuen Yuen Ang for The Ideas Letter. The Alfred Chandler Professor of Political Economy at Johns Hopkins goes to town on what our Nobel recipients get wrong, not to mention the perils of their assumptions.

We are also featuring the Kenyan writer and political analyst, Nanjala Nyabola, as she reflects on the shambolic electoral moment in the US. As at least a few of you may have heard, Tuesday November 5 is election day in America. Having Nyabola’s outsider interpretation of this (potentially) culminating moment is a treat and an honor.

And Sohrab Ahmari, who appears everywhere these days (so in demand is the fine writer’s wisdom), offers a response to last issue’s essay of Bhaskar Sunkara on social democracy and class. Sunkara himself would have responded immediately were that pesky US election not in the mix. Expect something from his pen in a few weeks’ time.

Leading off our curated content is a plaintive piece from New Lines Magazine about the eminent Egyptian sociologist Saad Eddin Ibrahim and his valiant efforts to locate a democratic future for Egypt. We follow with a conversation between Columbia comparative literature professor Brent Edwards and the writer Adam Shatz, whose recent intellectual biography of Frantz Fanon has deservedly won accolades far and wide. They discuss Aimé Césaire, a powerful figure for Fanon, and an esteemed Martiniquais poet, politician and intellectual.

We continue with a meditation on knowledge, climate change, Mongolia, and social science from Iza Ding, a story that is as lovely as it is distinctive.

Our close partner, Africa is a Country, is up next, with a fascinating if chilling report about the weird (or perhaps not) congruence between ex-South African entrepreneurs and American capitalism. Caveat Emptor: there’s some of that dastardly Elon Musk in the piece.

The neo-monarchist, anti-liberal Curtis Yarvin, ideologist to Peter Thiel, is considered by many to be a Darth Vader of contemporary ideas. Paris Marx and Julia Black discuss his relevance to contemporary debates; they may be critical but you’ll be up to snuff on the Yarvinian worldview after listening.

Finally, in the wake of the Georgian election last Saturday, Bryan Gigantino bucks received wisdom of the either-or choice that allegedly awaits Georgia’s future and asks, can it not be both/and? Why must we always interpret political futures through an insular Cold War prism? His piece is a tonic to that one-dimensionality.

Musically, we are featuring an early trio release by the piano virtuoso, Chick Corea, “Now He Sings, Now He Sobs,” from Chick’s record of the same name. With Miroslav Vitouš on bass and Roy Haynes (becoming a centenarian in March!) on drums, this 1968 release blew the minds of some listeners who were becoming acclimated to a more popularized late-60s soul-jazz sound. Its beauty and complexity demand repeated listening.

Our next issue will be our first as a brand-spanking new bells and whistles website. We are eager for your thoughts on it. Not to worry, you remain on our mailing list to receive notification of every new issue. It’s just going to look a whole lot more appealing.

—Leonard Benardo, senior vice president at the Open Society Foundations