The Price of Everything: A Parable of Possibility and Prosperity

The Price of Everything A Parable of Possibility and Prosperity 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 economi

  • Title: The Price of Everything: A Parable of Possibility and Prosperity
  • Author: Russell Roberts
  • ISBN: 9780691135090
  • Page: 113
  • Format: Hardcover
  • 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 aStanford 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 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.
    • Free Read [Self Help Book] ↠ The Price of Everything: A Parable of Possibility and Prosperity - by Russell Roberts ↠
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      Published :2019-05-21T00:44:22+00:00

    554 Comment

    • Shane says:

      What category should this fall under? I picked this off of a list of "Libertarian Fiction" although it is only Libertarian so as free markets are concerned. Of the four tenants of Libertarianism; Don't hurt people, Don't take their stuff, Be responsible, and Mind your own business this really only approaches the 'Mind your own business' aspect.This story is a primmer on Austrian Economics. It uses a conversational lecture style to convey many fundamental ideas about pricing and markets. I have r [...]

    • Kelly Cox says:

      Wonderful read. Has to be in the top 2 books I have read this year.

    • Mahala Helf says:

      Simplistic, unimaginative, outdated & cliched attempt to glorify the market and analogize human economic behavior with natural phenomena. Roberts wants us to believe that birds, ants, and markets mystically/magically achieve the best for all without any group communication or intentionality.The analogy fails. He is either incredibly lazy(well, he does base his bird theory on one anecdote & ask readers to write in he couldn't be bothered to google for confirmation ) or willfully ignorant. [...]

    • George says:

      A simple economic primer on how prices help to balance supply and demand, how they impact the allocation of resources, and how they are a prime motivator in our societal advancement. I recommend this book to EVERYONE, as I find most people are economically illiterate. The neat little thing is the author, Russell Roberts, has put the economics lessons into a novel. This is not his first effort in economic fiction having also written The Choice, and The Invisible Heart, both of which I also recomm [...]

    • Mary says:

      The Price of Everything by Russell Roberts utilizes fiction to educate the reader about economic theory, taking events from everyday life and divulging the principles that explain how markets work, and entertains and engages the reader to think about what Adam Smith called “the Invisible Hand.”1The story begins with an earthquake causing Ramon Fernandez and his girlfriend, Amy, to shop for flashlights first at Home Depot, where the supply has run out, and then at Big Box, where prices have b [...]

    • Cole Ramirez says:

      Interest in the Russ Robert's econtalk podcast led me to pick up his fiction book, The Price of Everything. The idea of an economist writing fiction intrigued me. I wish I could say I loved it as much as I love econtalk, but unfortunately that wasn't the case. I found both the storyline and the conversations too forced. It was not like historical fiction where fact and fiction blur seamlessly it was more like an intro to acting class practicing a choppy conversation about basic economics. At no [...]

    • Quinn says:

      An accessible Fountainhead! This is a touching book in many ways, but it really is a story of choices. It is told through the conversation between a Cuban Immigrant and a Stanford professor. The conversation is one that any high school, college student, or even an adult not well versed in economics.

    • SamBronstein says:

      This is a great book which has made me fall in love with economics . The novel is brilliantly spun weaving history sports and economics in one.

    • Greg Linster says:

      You've likely heard of the pop economics genre, but did you know that there is econ-fiction too?  Perhaps econ-fiction is a merely a branch of pop economics, but either way, it makes for a great way to teach basic economics to inquiring young (and old) minds alike.  And as far as I'm concerned, Russ Roberts (a professor at George Mason University) writes some of the most powerful didactic fiction about economics around.His book, The Price of Everything, is a parable that engages readers and nu [...]

    • Stephen says:

      The Price of Everything is an economics novel about the virtues of prices and markets, explaining how they work to maximize efficiency and spread goods out among those who need them and are willing to pay. Like The Invisible Heart, it is a policy treatise in novel form. There, an economics professor fell in love with a liberal English professor and slowly worked his dark-side libertarian magic on her. Here, another economics professor, this one the provost of a university, takes a passionate you [...]

    • Heather Shaw says:

      The Price of Everything is the name of a book I got in the mail recently from Princeton (978-0-691-13509-0). Apart from the intriguing title, the BISAC categories on the back were POPULAR ECONOMICS and FICTION. Huh?! Who could resist that?Not me. I sat on the back porch one Saturday and didn’t get up until it was over. Then I went back through and made notes. Then, I decided that all of my children had to read it over summer break—required. A couple of days later, I talked about it to a frie [...]

    • Amy Sturgis says:

      I wish I could offer two ratings here, one for the ideas behind the book and one for its execution.First, the ideas. Roberts' goal is a most worthy one: to challenge and educate the reader about an often misunderstood aspect of the market, prices, and how prices send signals that help individuals unintentionally but efficiently coordinate their actions. (Thus the much-maligned phenomenon of "price gouging" after disasters, for example, serves important purposes: not only to encourage those who n [...]

    • Taweewat says:

      I really like the way that the author tells the economics concept in this form as a conversation. The best way to learn economics is through examples, but simply giving examples one by one won't make the book that interesting. Now, I will definitely go back and read more books that are written by Robert.

    • Aastha says:

      As I started reading this book, I kept thinking how perfect it would be for an aspiring student of economics to read, freshman or sophomore year of college. Its conversational style (the book is largely written as a conversation between a teacher and a student) makes it a lively, if a little preachy, read. Some things are really interesting to think about, like the elements that go into creating a pencil, and how so many jobs, around the USA and around the world, are so intrinsically linked in t [...]

    • Doug says:

      A pedantic tale which is really designed to educate the reader about basic economic concepts. Despite the fact that long stretches resemble classroom lectures, the story moves along fairly well. It is particularly good at taking on some of the 'conventional wisdom' which is inconsistent with economic thinking. A good example is a case where some stores mark up the prices of certain goods, such as flashlights, when demand surges due to an earthquake. A common, and natural, reaction, is anger at t [...]

    • Nicole says:

      "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 [...]

    • Catherine says:

      The Price of Everything is an enjoyable fiction story, interwoven with the essential economic lessons of Leonard Reed's "I, Pencil," Smith's Wealth of Nations, and other free-market economic greats. Using an informative dialogue between economics professor & university provost Ruth Lieber, and her Cuban-American student, Ramon, Russell Roberts breaks down economic basics (market systems, price emergence, spontaneous order, "unseen" forces) into concepts the non-economist can understand. Lieb [...]

    • Brian says:

      I loved this book, it will probably be a front runner for my favorite book of the year, though the year is young. Here the author explains how prices keep the free market in tune with the needs of the consumer.There are books galore about this subject and I haven't read many but the thing that made this stand out is the story format along with several teaching dialogs between teacher and student. It held my attention throughout, with many of the dialogs drawing mental applause, with the AH-HA mo [...]

    • Linda says:

      About half-way through, and the dialogue is as clunky as those cars being recently swapped for cash . In fact, the book reads as the video accompanying my 7th grade Spanish book sounded: very contrived. "No hay carpetas," indeed.But I do have to admit that there is some good in what the author is (obviously) trying to portray: that the world isn't just about corporate greed gouging the poor, but about innovation driven by incentives, not all of which are money. He challenges his readers to think [...]

    • James Carmichael says:

      If you are curious about some of the basic principles of microeconomics and don't know anything about them, this might be a lovely book to read. The lectures - which are most of it - are lucid and straightforward and clear. Beyond that: it's hard to get mad about this, because (a) the book is labeled as a "parable", not a novel, and (b) the book imparts the sense that Russell Roberts, the author, writes this kind of stuff out of a genuine desire to educate, but to this reader anything that wasn' [...]

    • Vincent says:

      Russell Roberts has a remarkable talent for incorporating economics into readable, enjoyable fiction. This sequel to The Invisible Heart (I think it's safe to call it a sequel, considering the character "Amy" is in both) does well to show that some folks have a warped sense of economic "justice." Is it better to have products available at an "unfair" price, or unavailable at a "fair" price? What larger function do prices serve in a free market economy? How does government interference disrupt th [...]

    • Tyler says:

      Wow. This book was very, very good in my opinion. I am really only familiar with professor Roberts because of his infamous Hayek VS Keynes raps but he deserves more credit for making economics entertaining. Not just through videos or raps but this elegant short parable kept me wanting to read more. Not just the information in it, which alone deserves a high rating, but the actual story kept me wanting to read more. It would have been a 5/5 if I felt like the ending wasn't a little weak. I did li [...]

    • Ernestasia Siahaan says:

      I was going to give this 3 stars based on the story-writing alone. But I learned so much from this book, it deserves more than 3 stars. Having read a little review of this book beforehand, I had expected it to be teaching about economics - which it did well. But to my surprise, the book actually made me more passionate about the art of teaching and investing time in my students. The character of Ruth Lieber touched me with her way of imparting her passion on economics and her way of meeting more [...]

    • Tom says:

      Really an incredible work. I hesitated to give it the full five stars only because a few short stretches of dialogue got to the point where it felt like I was reading an economic text. I know that's what Roberts tried to avoid and he largely succeeds. By the time you finish it you don't really care about those small issues. He is able to integrate an entirely compelling story with economic concepts like emergent order, knowledge, and prices. You really connect with the characters and its ending [...]

    • Rahul says:

      Atlas Shrugged lite, this book is a fun fiction read that takes the reader through some basic economic philosophy in a non-boring manner. The book is set as a conversation between a professor and her student, who is involved in protesting a Wal-Mart like corporation for its business practices. The author does a great job of conveying some basic tenets of neo-classical economics without getting bogged down in the details. The references to FA Hayek are great, and provide the reader with plenty of [...]

    • Justin F says:

      Just as with his Podcast EconTalk, Russ Roberts distills economics into understandable concepts that the non-economist can understand and appreciate.The story itself is entertaining and well-written. However, it is the nuggets of Hayek, Mises and other economists that is real meat.If you enjoyed this book, definitely listen to the EconTalk podcast (especially back-episodes as there is a lot of great content in the archives).This book is a great launching pad into more deep and complex economics [...]

    • Anna Ebers says:

      A quick enjoyable read that I finished during my airport wait and subsequent flight. Would recommend it as an introductory text to my econ students. I especially like the discussion about the morality of large retailer charging higher prices in the aftermath of an earthquake. Ramon Fernandez reminded me of some people I know who could stir up a revolution over a thing they don't clearly understand. The character of Ruth Lieber made me think of Deidre M, even though I have never met her, this is [...]

    • Sally Ewan says:

      Another book about economics! This story is about a college tennis player whose mother brought him from Cuba as a child and his friendship with an economics professor. The professor sees leadership potential in the guy and mentors him in his understanding of economics and the free market theory. It was very interesting and informative, and helped me to better understand the modern economy. Want to know why it is 'fair' for a store to raise its prices during natural disasters? Read the book!

    • Gloria says:

      Well I wouldn't call it captivating or incredibly wonderful as a novel or parable (and the non-explanatory writing was kind of clunky), and I'm not sure the italicized paragraphs at each chapter beginning really did much to help But it was a good introductory text on basic economics. Seemed a little bit simplified (I had all sorts of questions to ask), so I guess the author succeeded in his goal to inspire curiosity and desire to learn more. And most definitely interesting to read at the same ti [...]

    • Colette Campbell says:

      I've been wanting to learn a bit more about economics, but the books I've gotten in the past have been too boring for me. This is a fiction book that teaches econ through the dialogue and plot. It's not an AWESOME page-turner, but it's pretty good and if you're wanting to get a good background on econ without being bored out of your mind this author is the way to go. Apparently he has other works of fiction that teach other aspects of econ, too.

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