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The Price of Everything: A Parable of Possibility and Prosperity

by Russell Roberts

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1212224,160 (3.92)1
Stanford University student and Cuban American tennis prodigy Ramon Fernandez is outraged when a nearby mega-store hikes its prices the night of an earthquake. He crosses paths with provost and economics professor Ruth Lieber when he plans a campus protest against the price-gouging retailer--which is also a major donor to the university. Ruth begins a dialogue with Ramon about prices, prosperity, and innovation and their role in our daily lives. Is Ruth trying to limit the damage from Ramon's protest? Or does she have something altogether different in mind? As Ramon is thrust into the national spotlight by events beyond the Stanford campus, he learns there's more to price hikes than meets the eye, and he is forced to reconsider everything he thought he knew. What is the source of America's high standard of living? What drives entrepreneurs and innovation? What upholds the hidden order that allows us to choose our careers and pursue our passions with so little conflict? How does economic order emerge without anyone being in charge? Ruth gives Ramon and the reader a new appreciation for how our economy works and the wondrous role that the price of everything plays in everyday life. The Price of Everything is a captivating story about economic growth and the unseen forces that create and sustain economic harmony all around us.… (more)
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A really lovely book describing the magic of the creation of wealth through unplanned human action. If you ever wondered why we are so well off compared to 100 years ago. This book explains why in very simple terms. I love the example of the massive increases in productivity especially the example of producing eggs. A great book for any student just starting in economics. ( )
  jvgravy | Oct 31, 2011 |
Much of the novel is a one-on-one seminar about how price signals create a market more efficient than central planning could ever do, and Roberts is good at illustrating this difficult concept. There are many examples of how the same unplanned order arises in the natural world, both explicit and implicit—for example, a flock of birds with a common goal, or dancing couples in a nightclub. But it’s not strictly a series of lectures. The story of a born teacher, full of passion about even her very last student, and a young man about to go out into the world, is also fully realized.

I wouldn’t say this is a novel that should be read just for fun, unless you are as dorky as me and really think this stuff is fun. But if you’ve ever thought about picking up a book like Freakonomics and aren’t so into nonfiction, or if you’ve read one of the recent pop economics books and want something more basic than the flashy examples often written about, this would be a great place to start.

(more at http://www.bibliographing.com/2008/08/08/the-price-of-everything-by-russell-robe... ) ( )
1 vote nperrin | Aug 8, 2008 |
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Just past midnight on a July night in Havana, the woman wakes and hears the tap, tap, tap at the window.
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Stanford University student and Cuban American tennis prodigy Ramon Fernandez is outraged when a nearby mega-store hikes its prices the night of an earthquake. He crosses paths with provost and economics professor Ruth Lieber when he plans a campus protest against the price-gouging retailer--which is also a major donor to the university. Ruth begins a dialogue with Ramon about prices, prosperity, and innovation and their role in our daily lives. Is Ruth trying to limit the damage from Ramon's protest? Or does she have something altogether different in mind? As Ramon is thrust into the national spotlight by events beyond the Stanford campus, he learns there's more to price hikes than meets the eye, and he is forced to reconsider everything he thought he knew. What is the source of America's high standard of living? What drives entrepreneurs and innovation? What upholds the hidden order that allows us to choose our careers and pursue our passions with so little conflict? How does economic order emerge without anyone being in charge? Ruth gives Ramon and the reader a new appreciation for how our economy works and the wondrous role that the price of everything plays in everyday life. The Price of Everything is a captivating story about economic growth and the unseen forces that create and sustain economic harmony all around us.

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