Arnold should not beat himself up over not publicizing his own work. He has done a fine job through his ASK and this Substack. After all, I'm a random non-economist in the midwest, and somehow, some years ago, I stumbled on his writings and was won over to his way of thinking. Now I'm a fan, and interested to know his views on any topic whatsoever, knowing that, whether I agree with them or not, they will have been well thought out and clearly expressed. Alas, the very qualities that make Arnold worth reading are the very qualities that militate against his becoming a media sensation.
(For my part, I was fortunate enough to have a successful book in the early 90s. Sales were driven entirely by rave reviews in major media outlets nationwide. When the publisher finally got around to buying ads in the NYT, Washington Post, etc., the sales curve was well past its peak and the ads accomplished little. I co-wrote another book, and my co-author got 83 rejections before it won a prize and was picked up by a major publisher and sold well. His persistence taught me the validity of the "ten times more" rule. If I were to publish today, I'd work ten times more than other authors to get copies before reviewers' eyes - print, social media, and whatever else is out there.)
I particularly loved the Specialization and Trade book, as it provided a compelling alternative interpretive framework for understanding the economy in place of tired and obviously deficient old Keynesian "GDP factory" model. The S&T book corresponds to the reality of human interactions; the GDP factory model was an attempt to entirely mathematize them, with dismal results.
Authors, particularly those with an academic bent, have two profoundly mistaken beliefs. Arnold is the only author I have ever seen who understood who does the marketing; most just blame their publisher for not marketing the book properly. The second delusion is connected to the first. Academic authors often believe their books are priced too high. They believe a large market exists for their book; after all, all their friends say they want to read it. How many readers they would have if only publishers would cut the price of the book! Even the late great Bill Niskanen thought this about one of his later books. But think about the incentives. Publishers have every reason to make as much money as possible on a book; they also have more knowledge about the potential market for your book than you do, and remember, publishers come across authors all the time who believe there is a large unmet market for their forthcoming work. But as Caplan would say: bet on it! And authors are always betting in part the publisher’s money. Publishers have a saying: the fastest route to bankruptcy is believing your author’s sales projections. All in all, I would say the alive great Arnold Kling is the most knowledgeable intellectually-serious author I have ever heard about these matters. But maybe no one ever priced one of his book at $150, i.e. the price that reflects market demand. Arnold has also noted his tendency toward favoring markets and a taste for business. Coincidence?
One aspect of your posts and other writing that "clicks" for me is your self appraisement. Without falling into any "woe is me" or groveling for pity, you come across to me as willing to make honest assessments of your work. This is refreshing and makes me want to read more. (enjoyed TLP and this blog, of course!)
I hope I’ve been able to get dozens of 3LP in the hands of young leaders here in central MN. It’s been a focus of a talk I give to an annual group created by the local Chamber of Commerce. I also commend you on getting the cash up front. My first book, I had an offer of $1000 up front from one publisher or bigger royalties from the other. I chose badly, thinking the publisher would help me sell the book.
S & T is really great -- but those ideas need to be part of some "Economic School", like an evolution of Austrian economics to incorporate more of the very real insights in S & T.
TLP has been a huge influence on my own thinking, moving from the Freedom-Coercion Libertarian axis to the Civilization vs Barbarian conservative axis, while being increasingly concerned with the increasing dominance of the Democrat Oppressed Victim vs Oppressor axis, dominating elites.
Now it's clear to me that for college grads, the "Victim deserves more" ideas are almost all also elite, Luxury Beliefs. As Rob Henderson notes, and Arnold often links to.
There also seems to be yet another Somewhere (locals) vs Anywhere (cosmopolitans) which often mixes folks usually more concerned about the other axes.
I've been reading Arnold since the TCS - and even went in maybe 2004 to a TCS sponsored tech event in the EU, in Brussels (?), where they tried to have voice to text demonstrated live for some speeches but it really wasn't yet good enough (95% not good enough).
Arnold is one of the most honest blogger/ pundits/ intellectuals, and with a wide set of interests and experiences. So I keep reading him, and the links he links to. And write this comments, which are also shared as Notes on my own stack.
I've read TLP and I enjoyed it. I have nothing else to say about it, and had no complaints. I've also read Specialization and Trade--and I love that one. I think the subject matter interested me more. The book is so characteristically succinct, with clear, vivid explanations of several abstract ideas. I look forward to reading some of your other books when I can.
I read your health care book and liked it but it would make me a bit sad if there weren't some alternatives out there that were better. It wouldn't surprise me if I should be sad.
Arnold should not beat himself up over not publicizing his own work. He has done a fine job through his ASK and this Substack. After all, I'm a random non-economist in the midwest, and somehow, some years ago, I stumbled on his writings and was won over to his way of thinking. Now I'm a fan, and interested to know his views on any topic whatsoever, knowing that, whether I agree with them or not, they will have been well thought out and clearly expressed. Alas, the very qualities that make Arnold worth reading are the very qualities that militate against his becoming a media sensation.
(For my part, I was fortunate enough to have a successful book in the early 90s. Sales were driven entirely by rave reviews in major media outlets nationwide. When the publisher finally got around to buying ads in the NYT, Washington Post, etc., the sales curve was well past its peak and the ads accomplished little. I co-wrote another book, and my co-author got 83 rejections before it won a prize and was picked up by a major publisher and sold well. His persistence taught me the validity of the "ten times more" rule. If I were to publish today, I'd work ten times more than other authors to get copies before reviewers' eyes - print, social media, and whatever else is out there.)
I particularly loved the Specialization and Trade book, as it provided a compelling alternative interpretive framework for understanding the economy in place of tired and obviously deficient old Keynesian "GDP factory" model. The S&T book corresponds to the reality of human interactions; the GDP factory model was an attempt to entirely mathematize them, with dismal results.
Authors, particularly those with an academic bent, have two profoundly mistaken beliefs. Arnold is the only author I have ever seen who understood who does the marketing; most just blame their publisher for not marketing the book properly. The second delusion is connected to the first. Academic authors often believe their books are priced too high. They believe a large market exists for their book; after all, all their friends say they want to read it. How many readers they would have if only publishers would cut the price of the book! Even the late great Bill Niskanen thought this about one of his later books. But think about the incentives. Publishers have every reason to make as much money as possible on a book; they also have more knowledge about the potential market for your book than you do, and remember, publishers come across authors all the time who believe there is a large unmet market for their forthcoming work. But as Caplan would say: bet on it! And authors are always betting in part the publisher’s money. Publishers have a saying: the fastest route to bankruptcy is believing your author’s sales projections. All in all, I would say the alive great Arnold Kling is the most knowledgeable intellectually-serious author I have ever heard about these matters. But maybe no one ever priced one of his book at $150, i.e. the price that reflects market demand. Arnold has also noted his tendency toward favoring markets and a taste for business. Coincidence?
One aspect of your posts and other writing that "clicks" for me is your self appraisement. Without falling into any "woe is me" or groveling for pity, you come across to me as willing to make honest assessments of your work. This is refreshing and makes me want to read more. (enjoyed TLP and this blog, of course!)
I hope I’ve been able to get dozens of 3LP in the hands of young leaders here in central MN. It’s been a focus of a talk I give to an annual group created by the local Chamber of Commerce. I also commend you on getting the cash up front. My first book, I had an offer of $1000 up front from one publisher or bigger royalties from the other. I chose badly, thinking the publisher would help me sell the book.
The Gintis review was surprisingly harsh. I've seen him review Thomas Sowell favorably. Something about your book must have set him off.
S & T is really great -- but those ideas need to be part of some "Economic School", like an evolution of Austrian economics to incorporate more of the very real insights in S & T.
TLP has been a huge influence on my own thinking, moving from the Freedom-Coercion Libertarian axis to the Civilization vs Barbarian conservative axis, while being increasingly concerned with the increasing dominance of the Democrat Oppressed Victim vs Oppressor axis, dominating elites.
Now it's clear to me that for college grads, the "Victim deserves more" ideas are almost all also elite, Luxury Beliefs. As Rob Henderson notes, and Arnold often links to.
There also seems to be yet another Somewhere (locals) vs Anywhere (cosmopolitans) which often mixes folks usually more concerned about the other axes.
I've been reading Arnold since the TCS - and even went in maybe 2004 to a TCS sponsored tech event in the EU, in Brussels (?), where they tried to have voice to text demonstrated live for some speeches but it really wasn't yet good enough (95% not good enough).
Arnold is one of the most honest blogger/ pundits/ intellectuals, and with a wide set of interests and experiences. So I keep reading him, and the links he links to. And write this comments, which are also shared as Notes on my own stack.
I've read TLP and I enjoyed it. I have nothing else to say about it, and had no complaints. I've also read Specialization and Trade--and I love that one. I think the subject matter interested me more. The book is so characteristically succinct, with clear, vivid explanations of several abstract ideas. I look forward to reading some of your other books when I can.
Hadn't been aware of the book about intangibles. Looking forward to reading it soon.
Appreciate you sharing about your work friend
Thank you. I found specialisation and trade excellent and have ordered some of the others thanks to this summary.
I read your health care book and liked it but it would make me a bit sad if there weren't some alternatives out there that were better. It wouldn't surprise me if I should be sad.