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The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy
"The United States and indeed most of the world is coming off a major bout of inflation. Fallacies have been multiplying in the media and from commentators. Ryan Bourne has edited a new volume – The War on Prices – that sets the record straight. Here is your go-to book on rising prices, price controls, and other government policies toward prices." Tyler Cowen, Holbert L. Harris Chair of Economics at George Mason University and founder of Marginal Revolution.
Was inflation’s recent spike exacerbated by corporate greed? Do rent controls really help the needy? Are U.S. health care prices set in a Wild West marketplace? Do women get paid less than men for the same work, and do they pay more than men for the same products? The War on Prices is an eye-opening book that answers all these burning questions and more, as top economists debunk popular misconceptions about inflation, prices, and value.
Market prices are under siege. The war on prices is waged most obviously with damaging government price controls and the harmful effects of central bank monetary mismanagement, as we saw with the recent inflation. Yet these bad policies are propped up by widespread, misguided public beliefs about the causes of inflation, the effects of price controls, and the inherent morality of market prices.
Breaking down these complex issues into three distinct sections―inflation, price controls, and value―this book both sheds light on long-standing contentions and brings economic theory and evidence to bear in today’s most contentious debates. Threaded through the book is a revealing too many of us misunderstand the origin, role, and worth of market prices in our economy. The old insult goes that “economists know the price of everything and the value of nothing.” The War on Prices shows that good economists―and soon, you―can appreciate the value of unshackled market prices in delivering prosperity.
Other praise for The War on Prices:
"It is not just actual prices that have risen unusually rapidly in recent years—muddled thinking about prices has grown exponentially. I do not agree with the conclusion of every chapter of this volume, but I agree with most of them. And all of them are grounded in the type of rigorous economics and empirics that are sadly missing in too much of the popular debate." Jason Furman, former Chair of the Council of Economic Advisers and Aetna Professor of the Practice of Economic Policy, Harvard University.
"The War on Prices is a fantastic book. It comprehensively makes the case that price controls do great harm, often to the people they are supposed to help. Particularly good are the chapters on rent controls, price controls on oil and natural gas, and so-called junk fees, which are really fees to solve problems that would exist without them. If the chapter on why we should have a free market in water were taken to heart, my fellow Californians and I would be much better off. Read this book and learn." David R. Henderson, research fellow at the Hoover Institution and editor of The Concise Encyclopedia of Economics.
"Prices make people angry. Most of the time we feel like we are paying too much for the goods or services we consume, or are being paid too little for the labor we sell. But prices are also a miracle, they make commerce possible and convey invaluable information. We mess with them at our peril. Ryan Bourne has edited a delightful collection of essays that stand up for what is perhaps the most hated, but most important of economic indicators--the market price." Allison Schrager, senior fellow, Manhattan Institute and columnist, Bloomberg Opinion.
Was inflation’s recent spike exacerbated by corporate greed? Do rent controls really help the needy? Are U.S. health care prices set in a Wild West marketplace? Do women get paid less than men for the same work, and do they pay more than men for the same products? The War on Prices is an eye-opening book that answers all these burning questions and more, as top economists debunk popular misconceptions about inflation, prices, and value.
Market prices are under siege. The war on prices is waged most obviously with damaging government price controls and the harmful effects of central bank monetary mismanagement, as we saw with the recent inflation. Yet these bad policies are propped up by widespread, misguided public beliefs about the causes of inflation, the effects of price controls, and the inherent morality of market prices.
Breaking down these complex issues into three distinct sections―inflation, price controls, and value―this book both sheds light on long-standing contentions and brings economic theory and evidence to bear in today’s most contentious debates. Threaded through the book is a revealing too many of us misunderstand the origin, role, and worth of market prices in our economy. The old insult goes that “economists know the price of everything and the value of nothing.” The War on Prices shows that good economists―and soon, you―can appreciate the value of unshackled market prices in delivering prosperity.
Other praise for The War on Prices:
"It is not just actual prices that have risen unusually rapidly in recent years—muddled thinking about prices has grown exponentially. I do not agree with the conclusion of every chapter of this volume, but I agree with most of them. And all of them are grounded in the type of rigorous economics and empirics that are sadly missing in too much of the popular debate." Jason Furman, former Chair of the Council of Economic Advisers and Aetna Professor of the Practice of Economic Policy, Harvard University.
"The War on Prices is a fantastic book. It comprehensively makes the case that price controls do great harm, often to the people they are supposed to help. Particularly good are the chapters on rent controls, price controls on oil and natural gas, and so-called junk fees, which are really fees to solve problems that would exist without them. If the chapter on why we should have a free market in water were taken to heart, my fellow Californians and I would be much better off. Read this book and learn." David R. Henderson, research fellow at the Hoover Institution and editor of The Concise Encyclopedia of Economics.
"Prices make people angry. Most of the time we feel like we are paying too much for the goods or services we consume, or are being paid too little for the labor we sell. But prices are also a miracle, they make commerce possible and convey invaluable information. We mess with them at our peril. Ryan Bourne has edited a delightful collection of essays that stand up for what is perhaps the most hated, but most important of economic indicators--the market price." Allison Schrager, senior fellow, Manhattan Institute and columnist, Bloomberg Opinion.
433 pages, Kindle Edition
First published May 14, 2024
About the author
Ryan A. Bourne
2 books11 followersRyan Bourne occupies the R. Evan Scharf Chair for the Public Understanding of Economics at the Cato Institute and is a weekly columnist for The Times (UK). He has written on a number of economic issues, including fiscal policy, inequality, price and wage controls, and infrastructure spending.
His is the editor of a forthcoming multi-authored volume titled The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy.
His first solo book, Economics In One Virus: An Introduction to Economic Reasoning through COVID-19, will be released in early 2021. He has contributed to numerous other books too, including: Flaws and Ceilings: Price Controls and the Damage they Cause; Taxation, Spending, and Economic Growth; and A Fiscal Cliff: New Perspectives on the U.S. Federal Debt Crisis. He previously authored, along with Kwasi Kwarteng and Jonathan Dupont, A Time for Choosing: Free Enterprise in Twenty-First Century Britain.
Before joining Cato, Bourne was Head of Public Policy at the Institute of Economic Affairs and Head of Economic Research at the Centre for Policy Studies (both in the UK). He has extensive broadcast and print media experience, and has appeared on BBC News, CNN, Sky News, CNBC, and Fox Business Network. Bourne holds a BA and an MPhil in economics from the University of Cambridge.
His is the editor of a forthcoming multi-authored volume titled The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy.
His first solo book, Economics In One Virus: An Introduction to Economic Reasoning through COVID-19, will be released in early 2021. He has contributed to numerous other books too, including: Flaws and Ceilings: Price Controls and the Damage they Cause; Taxation, Spending, and Economic Growth; and A Fiscal Cliff: New Perspectives on the U.S. Federal Debt Crisis. He previously authored, along with Kwasi Kwarteng and Jonathan Dupont, A Time for Choosing: Free Enterprise in Twenty-First Century Britain.
Before joining Cato, Bourne was Head of Public Policy at the Institute of Economic Affairs and Head of Economic Research at the Centre for Policy Studies (both in the UK). He has extensive broadcast and print media experience, and has appeared on BBC News, CNN, Sky News, CNBC, and Fox Business Network. Bourne holds a BA and an MPhil in economics from the University of Cambridge.
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Displaying 1 - 2 of 2 reviews
June 8, 2024
Very good targeted essays debunking lots of misconceptions. The essays that mixed in real world examples were the better ones.
June 12, 2024
As gaming technology advances, the depiction of futuristic worlds in video games has reached new heights. These games transport players to distant futures, filled with imaginative landscapes, advanced technologies, and gripping narratives. Here are the top 10 best future world games that every gamer should experience.
1. Cyberpunk 2077 - Despite its controversial launch, Cyberpunk 2077 has evolved into a richly detailed game set in the sprawling metropolis of Night City. The neon-lit streets, advanced cybernetics, and complex characters offer a deep and immersive experience in a dystopian future.
2. Horizon Forbidden West - This sequel to Horizon Zero Dawn expands on its post-apocalyptic world where nature has reclaimed the ruins of civilization. Players explore breathtaking landscapes, encounter futuristic robotic creatures, and uncover secrets of the past.
3. Mass Effect Legendary Edition - The remastered trilogy of the Mass Effect series allows players to experience one of the best sci-fi sagas in gaming history. The game's future world is vast, featuring diverse alien species, interstellar politics, and epic space battles.
4. Deus Ex: Mankind Divided - Set in a cybernetic future where humans are augmented with advanced technology, this game explores themes of conspiracy, human rights, and technological ethics. Its detailed environments and engaging story make it a standout in the genre.
5. Destiny 2 - Bungie's multiplayer shooter takes place in a universe where humanity has colonized the solar system. Players become Guardians, defending the last city on Earth and exploring diverse planets with stunning futuristic landscapes and advanced alien technology.
6. Nier: Automata - Set in a distant future where Earth is overrun by alien machines, this action RPG offers a unique blend of fast-paced combat, philosophical storytelling, and hauntingly beautiful environments. Its deep narrative explores themes of existence and identity.
7. The Outer Worlds - This game from Obsidian Entertainment presents a retro-futuristic world where mega-corporations rule the colonies in space. Its satirical take on corporate dystopia, combined with vibrant visuals and engaging gameplay, makes it a must-play.
8. No Man’s Sky - Initially released to mixed reviews, No Man’s Sky has transformed into a vast, procedurally generated universe with endless exploration possibilities. Players can visit countless planets, each with unique ecosystems and advanced alien civilizations.
9. Halo Infinite - The latest entry in the iconic Halo series continues to captivate with its expansive world set in the distant future. The game offers stunning visuals, a compelling story, and the classic fast-paced combat that fans love.
10. Starfield - Bethesda’s ambitious space exploration game promises a future world filled with detailed planets, space travel, and deep lore. Though highly anticipated, the glimpses of its universe already indicate a richly immersive experience.
See more: https://www.linkedin.com/in/sorenlark/
These games exemplify the best of what future world settings can offer. They push the boundaries of imagination, creating immersive worlds where players can lose themselves in advanced technologies, complex societies, and gripping narratives. Whether exploring the depths of space or navigating dystopian cities, these titles provide a glimpse into the endless possibilities of future gaming.
1. Cyberpunk 2077 - Despite its controversial launch, Cyberpunk 2077 has evolved into a richly detailed game set in the sprawling metropolis of Night City. The neon-lit streets, advanced cybernetics, and complex characters offer a deep and immersive experience in a dystopian future.
2. Horizon Forbidden West - This sequel to Horizon Zero Dawn expands on its post-apocalyptic world where nature has reclaimed the ruins of civilization. Players explore breathtaking landscapes, encounter futuristic robotic creatures, and uncover secrets of the past.
3. Mass Effect Legendary Edition - The remastered trilogy of the Mass Effect series allows players to experience one of the best sci-fi sagas in gaming history. The game's future world is vast, featuring diverse alien species, interstellar politics, and epic space battles.
4. Deus Ex: Mankind Divided - Set in a cybernetic future where humans are augmented with advanced technology, this game explores themes of conspiracy, human rights, and technological ethics. Its detailed environments and engaging story make it a standout in the genre.
5. Destiny 2 - Bungie's multiplayer shooter takes place in a universe where humanity has colonized the solar system. Players become Guardians, defending the last city on Earth and exploring diverse planets with stunning futuristic landscapes and advanced alien technology.
6. Nier: Automata - Set in a distant future where Earth is overrun by alien machines, this action RPG offers a unique blend of fast-paced combat, philosophical storytelling, and hauntingly beautiful environments. Its deep narrative explores themes of existence and identity.
7. The Outer Worlds - This game from Obsidian Entertainment presents a retro-futuristic world where mega-corporations rule the colonies in space. Its satirical take on corporate dystopia, combined with vibrant visuals and engaging gameplay, makes it a must-play.
8. No Man’s Sky - Initially released to mixed reviews, No Man’s Sky has transformed into a vast, procedurally generated universe with endless exploration possibilities. Players can visit countless planets, each with unique ecosystems and advanced alien civilizations.
9. Halo Infinite - The latest entry in the iconic Halo series continues to captivate with its expansive world set in the distant future. The game offers stunning visuals, a compelling story, and the classic fast-paced combat that fans love.
10. Starfield - Bethesda’s ambitious space exploration game promises a future world filled with detailed planets, space travel, and deep lore. Though highly anticipated, the glimpses of its universe already indicate a richly immersive experience.
See more: https://www.linkedin.com/in/sorenlark/
These games exemplify the best of what future world settings can offer. They push the boundaries of imagination, creating immersive worlds where players can lose themselves in advanced technologies, complex societies, and gripping narratives. Whether exploring the depths of space or navigating dystopian cities, these titles provide a glimpse into the endless possibilities of future gaming.
Displaying 1 - 2 of 2 reviews