Summary:
EconTalk host, Russell Roberts.
Hello! I've been working to make a summer reading project for AP Microeconomics teachers who read this blog the last two weeks. One of the books I highly recommend is The Price of Everything, by Russell Roberts.
In this book, Mr. Roberts discusses how prices emerge to allocate scare goods, how consumers benefit from the profit motive, and more. I have taught AP Microeconomics for 10 years and I had to admit the lessons in this book on supply and demand were some of the best I have read. After reading this book, I can simply state to colleagues why perfect competition has provided a higher standard of living and why price gouging is a myth.
I have heard many times that genius is in simplicity. As a mock trial teacher I know the most powerful way to sway a jury is to tell them a story. This book plaintively tells a story and teaches the heart of economics.
I hope to have a lesson plan available soon for download to readers of this blog.
About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
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