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Name of the eBook you are reviewing: The Invisible Heart: An Economic Romance
“The Invisible Heart: An Economic Romance” by Russell Roberts, revolves around the protagonist, Sam Gordon, who takes an economist’s perspective.
Review:
“Capitalism involves struggle, but it has an invisible heart beating at its core that transforms people’s lives.”
Within the first chapter, Roberts depicts marginal analysis and scarcity through food and in later chapters concepts of supply and demand through dry cleaning. Although Roberts’ interpretation of marginal analysis and scarcity provides multiple reasonings from a theoretical standpoint as well as literal applications, Roberts’ reasoning is often unrealistic.
Sam Gordon asks his economics class, “Why the world will never run out of oil”, making a comparison to giving the students a room full of pistachio nuts (6). The only condition is the students are not allowed to take the nuts outside the room. Initially, due to the high price of pistachios and a plentiful amount of them, the cost was the time that it takes to de-shell them. However, as the students ate them, the number of actual pistachios decreased and the cost increased. The cost of time to find pistachio outweighed the value of the actual pistachio, thus the student would not want to look for them. Robert makes this analogy to show that the world will never run out of oil because the costs to extract the remaining oil in the earth, that the production will be so expensive that before oils are completely used up, the world will find a cheaper and more efficient alternative. The consumer or company will cease to produce or sell such a product. Human wants and needs are unlimited, however, resources are limited.
In “The Invisible Heart: An Economic Romance”, Roberts expands on theories such as marginal analysis, supply and demand and scarcity. The author’s examples are established in real-life settings and although they prove to be exciting concepts, they are set in an idealistic light.
Would you recommend this to other users? This book was pretty ambitious, and while it didn’t wholly succeed with its heavy-handedness with extended monologues about economics and caricature of strawmen. However, the attempt at all competently makes it a good book. Basically, it is a “nicer” or “better” form of an Ayn Rand book — a romance novel with a free market/libertarian economics message at the core. However, it is still interesting.
Rating(1-5):
“The Invisible Heart: An Economic Romance” by Russell Roberts, revolves around the protagonist, Sam Gordon, who takes an economist’s perspective.
Review:
“Capitalism involves struggle, but it has an invisible heart beating at its core that transforms people’s lives.”
Within the first chapter, Roberts depicts marginal analysis and scarcity through food and in later chapters concepts of supply and demand through dry cleaning. Although Roberts’ interpretation of marginal analysis and scarcity provides multiple reasonings from a theoretical standpoint as well as literal applications, Roberts’ reasoning is often unrealistic.
Sam Gordon asks his economics class, “Why the world will never run out of oil”, making a comparison to giving the students a room full of pistachio nuts (6). The only condition is the students are not allowed to take the nuts outside the room. Initially, due to the high price of pistachios and a plentiful amount of them, the cost was the time that it takes to de-shell them. However, as the students ate them, the number of actual pistachios decreased and the cost increased. The cost of time to find pistachio outweighed the value of the actual pistachio, thus the student would not want to look for them. Robert makes this analogy to show that the world will never run out of oil because the costs to extract the remaining oil in the earth, that the production will be so expensive that before oils are completely used up, the world will find a cheaper and more efficient alternative. The consumer or company will cease to produce or sell such a product. Human wants and needs are unlimited, however, resources are limited.
In “The Invisible Heart: An Economic Romance”, Roberts expands on theories such as marginal analysis, supply and demand and scarcity. The author’s examples are established in real-life settings and although they prove to be exciting concepts, they are set in an idealistic light.
Would you recommend this to other users? This book was pretty ambitious, and while it didn’t wholly succeed with its heavy-handedness with extended monologues about economics and caricature of strawmen. However, the attempt at all competently makes it a good book. Basically, it is a “nicer” or “better” form of an Ayn Rand book — a romance novel with a free market/libertarian economics message at the core. However, it is still interesting.
Rating(1-5):
