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The Price of Everything: Solving the Mystery of Why We Pay What We Do Hardcover – Bargain Price, January 4, 2011
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-Tim Harford, Financial Times, author of The Undercover Economist
"Everything in the world comes with a price, but what does a price mean and how is it set? This riveting narrative is the best book on these very human and very important questions. There is an interesting nugget on virtually every page."
-Tyler Cowen, co-author of the Marginal Revolution blog
"A fascinating journey through what we see every day-but do not think about enough. Eduardo Porter makes you think hard about the corporate interests at work behind the veil of prices (and much more). Just because people are willing to pay does not mean that the price is right-in any sense of the word."
-Simon Johnson, co-author of 13 Bankers and professor of entrepreneurship, MIT Sloan School of Management
More About the Author
Top Customer Reviews
* Market transactions do not necessarily provide people with what they want; they provide people with what they think they want. Consumers often have the most tenuous grasp of why they pay what they do for a given object of their desire. (This guy must drive economists crazy!)
* Value started as a moral inquiry, a manifestation of divine justice (back when the Church ran the World)
* The real world is plagued with search costs. It is difficult for consumers to to find out what a given product costs in all the shops in town- let alone everything available on the Internet. One of the best know market techniques is to make it difficult for customers to understand where they can get best value for their money
* People value more things they bought than what they receive as gifts
* Imposing a fine on tardy parents picking up their kids at daycare worsened tardiness. The fine made it affordable.
* Even if an investor were to correctly call a bubble, it would be expensive to bet against it
With enough investor enthusiasm, the bubble will stay inflated longer than the contrarian could remain solvent.
Keynes believed that most investors really do not know what they are doing. Sort of betting on the
average response to average events. Keynes made a lot of money in the market.
* Expect increased right wing politics as the economy worsens
The author covers off the price of slaves, women, children, global warming, religious affiliation, horse meat and more. It is an eclectic and marvelous journey. Great book for a trip.
The result is that you keep thinking about the book long after it is read. Whether he seemed to support or contradict my own point of view, he invariably presented a reasoned argument which was worth going through.
"The Price of Everything" is enormously rewarding and well worth rereading. I recommend the book unreservedly.
Before reading this book I thought of PRICE in more of a retail sort of way. The cost of an iPad, new shoes or a pair of pants.
While that's certainly one form of PRICE, Eduardo Porter has reminded me that it's actually so much more.
What about The Price of Happiness? The Price of Life? The Price of Work? The Price of Faith? The Price of Free? Or even The Price of the Future? (all chapter titles from the book).
PRICE is about choice, priorities, and the value or worth that we set. That value drives our decisions and shapes our lives in more ways than we might initially think. After all, everything has a PRICE doesn't it? From consumer goods to our time, every choice in where we'll invest our resources has to do with PRICE.
But PRICE isn't fixed. You and I might see PRICE in a totally different ways because the PRICE we're willing to pay is shaped by a variety of things. While I might be willing to pay $10 for a collectible card, you might think it's only worth $1. And while I might be willing to invest 4 hours of my week on Social Media, you might think that same use of time is worthless.
Everything we do, every choice we make boils down to PRICE.
I highly recommend this book. It's well worth the PRICE. :)
choices individuals and societies make every day, often without considering
the true cost and other implications of those decisions.
Eduardo Porter, a member of the New York Times editorial board, is both a
creative thinker and hugely entertaining writer, skilled at explaining complex
issues to numbers-phobic, non-economists like me.
I learned a lot about how the world really functions, and was
riveted from cover-to-cover.
I highly recommend this book.
A good book would be akin to a guided tour of a museum done right, this one feels like I am left wondering on my own in a warehouse for overflow exhibits, mixed with an occasional trash item waiting to be taken out.
Most Recent Customer Reviews
Faults information or lies called facts are in this book. I just about spit my coffee across the room when I starting read this book. Read morePublished 12 months ago by Amazon Customer
It's an insightful read. In the fashion of "Freakonomics" it will challenge your preconceived understanding of our societal norms. Read morePublished 13 months ago by Mike
When I was young in the 50's and '60s, I found some correspondence between the price of things (outside the luxury trades) and what they cost to make. Read morePublished 23 months ago by Khirul
Statists gonna state. This dude is so enamored with authoritarianism, it's definitely affected his perception of the world around him and therefore, his writing. Read morePublished on January 13, 2014 by elsensei
I love Economics, Business, Finance, as well as Sociology and Social Economic books.
I read about 1-3 books per week. Read more
"What's your price?" Has anyone asked this to you? Maybe not, but imagine for a moment if someone did - what would your response be? You would have a confused "huh"!! Read morePublished on October 28, 2013 by Rajesh
Mr. Porter has done a good job at quantifying how we make choices. In general the book is quite objective on the examples providedPublished on March 16, 2013 by George Benaroya
First, there is a lot of interesting information in this book about how price drives behavior, sometimes in unexpected ways. Read morePublished on May 30, 2012 by bronx book nerd