Question

    What is the parable of the story of Ramon, Amy and Professor Ruth Lieber? In other words, what is Russell Roberts’ main thesis? In your answer, you must explain the concept of “emergent order” and describe the role that prices play in creating this emergent order, fully supported by applying supply and demand analysis.

Answer 1

The price for everything is a book written by Russel Roberts featuring tthe characters Ramon Amy and Professor Ruth Leiber . Leiber is a professor and provost at Stanford university and Ramon a Cuban immigrant boy studying under him through these characters Russel has done a marvelous job of giving a platform for discussion between two different groups whose opinions vary drastically. Raman is presented as an extremist who criticises the market policy and is always ready to start an arguement against the economic decisions. Professor Leiber on the other hand is presented as a calm patient saintly figure who listens to the trantrum of his student and then provides him with a logical answer and sawys the opinion of Ramon. One famous instance is of when Ramon protest against the back box for hiking up the price of flashlight after the earthquake and he also accuses Walmart of wrongly using the employees. He is in extreme rage till he meets professor Leiber who explain Ramon about the demand supply logic of economics. He also explains emergent order price gouging and prosperity. Russel is of the view that the life of a poor in the modern world is much better than the life of a rich person in the ancient times because a normal average income person can easily avail all the technical benefits has much better healthcare and sanitation facilities and more chances to prosper. Russel has given a positive side to the economic and shifted the focus of economics being just about money and money away.