☆ 2024 takeaway #5: Good economics can inspire good living
Pierre-Auguste Renoir: Au Jardin En Bretagne, 1886.
At their best, free marketeers aren’t Scrooges or Gradgrinds who prioritize profit over the “good life.” In fact, we’ve always thought the free market philosophy goes hand-in-hand with higher discussions about education, technology, art, and free thought in 21st century Silicon Valley. In this Opp Now exclusive, we wrap up our 2024 takeaways—reflecting on how free market principles can inspire the pursuit of better, fuller lives.
It’s a common view that disciplines closer to mundane everyday life—economics, policy debates, city council decisions—are somehow “lower” than the humanities. But maybe they don’t have to be. Maybe they’re a lot more similar (and interconnected) than we give them credit for.
The principles free marketeers embrace, we’ve always thought, can inform and are applicable to art and culture. Below are some stories we explored in 2024 that bridge the conceptual gap between good economics and good living—and what we learned along the way:
Economics isn’t an isolated study, so don’t treat it as such. Ancient Greek thinkers didn’t hyper-segment disciplines like we do today, but viewed them all as interweaving parts of a holistic whole. (Yep, that means Tolstoy, school leaders, and our favorite ‘80s movie can all inform our understanding of the free market—and vice versa!)
Respect and build upon existing cultural conversations. Free market philosophy rightly situates the self as one of billions impacting our economy, in a historical framework also affected by past (inter)actions. As Austrian economist Friedrich Hayek put it: a free market “allows millions of decision-makers to respond individually to freely determined prices, allocating resources—labor, capital and human ingenuity—in a manner that can't be mimicked by a central plan, however brilliant the central planner.”
So when participating in cultural debates, it’s wise to remain humble, and pay special attention to those who know more than we do about: art that inspires us, how to discuss politics in our divided culture, what ancient philosophy suggests about governance, etc. Not to mention ideas from respected historical figures like Hayek and Socrates.
Be attuned to—and take time to appreciate—our environment. The world evolves not in huge revolutionary moments, but rather in an evolutionary manner which is rooted in the past: little changes here, a false start there, an idea that earns a foothold and then slowly expands. This reminds us that close observing and interacting with our world gets us closer to more fundamental stories, and less distracted by the latest viral social media post. It means there’s always something worth our enjoyment and respect—if we look for it in the right places. Whether that’s in the seasons changing. Harsh autumn storms. Or even just sitting in 101 traffic, cars clustered around all sides.
This is also why we’ve started highlighting longer-form articles on weekends. We aren’t meant for only bite-sized, fast news; we all yearn to dig into “good living” more deeply, meaningfully, and joyfully. This past year, we sure had fun “moseying and meandering” together through politics, culture, and more—and we couldn’t be more excited for what’s ahead.
‘Til 2025.
Here's an anthology of top Opp Now stories about the relationship of free market concepts and upstream cultural topics over the past year:
Poetry for the season: Local poet Peter Verbica explored how taking time to observe our world—and to “leave behind our small selves”—cultivates connectedness.
Perspective: education is revolution (ft. Plato, Socrates, & a brief Latin lesson): San Jose State could learn a few things from this new college and their old (ancient, might we add) approach to education.
On Tolstoy and full joy: The delightful economics of “Anna Karenina”: Econlib theorized that for all free marketism's strengths, economics ultimately can't account for the happiness of mankind.
Perspective: Modern education stifles creativity and critical thinking—here's how “classical” thinking can save SV's tech: Chesterton Academy of St. James’ executive director and Opp Now’s managing editor Lauren Oliver discussed how the classical framework can enrich our tech-filled lives.
How “Dead Poets Society” warns Bay Area voters to seize prudence—not the “day”: Ahead of Election 2024, this ‘80s movie reminded that we must chart a path between passionate impulses and soulless utilitarianism.
Book rec's: Philosophy profs on what makes a whole, wise person in today's Silicon Valley (part 1): Bay Area philosophy faculty discussed how AI makes us rethink our humanity and if Daosim could inform effective governance.
Poetry: Autumn storms weep, gnash, and erupt into sublimity: Our managing editor Lauren Oliver celebrated, in verse, the exquisite feelings of wonder we have after a storm's passed.
Bay Area art profs on reclaiming our humanity through painting, gazing, co-creating (part 1): Local art professors wrestled with what being “human” means amidst technological advancements, AI debates, and a fast-moving culture.
Election 2024 is over; now, how do we overcome political polarization? (part 2): Bay Area political science professors dissected why we're so polarized today—and how to get back on track.
“Everyone is a poet at heart”: Historic word collage celebrates County's natural beauty: In 2009, SCC residents submitted lines of verse to be compiled into a playful, quirky collaborative poem.
Like gardeners, free marketeers begin by observing—and respecting—the world around them: Using a gardening analogy, Friedrich Hayek reminded that “grown” economics fulfill our needs far better than “invented” top-down principles.
Opinion: This post-election season needs more “strolling, dawdling, moseying, meandering”: Harvard Biz Review analyzed our cultural addiction to “acceleration”—and what's to gain from savoring and “musing” in life.
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