Tag Archives: The Tipping Point

Somebody’s Watching You

The Price of Everything: Solving the Mystery of Why We Pay What We Do by Eduardo Porter (Portfolio Hardcover, $27.95, 304 pages)

“There was a time when the United States offered workers a shot at prosperity.”

“The nicer the nice, the higher the price / This is what you pay for what you need. / The higher the price, the nicer the nice. / Jealous people like to see you bleed.”   Sylvester Stewart (AKA Sly Stone)

Author Eduardo Porter relies on well-known and documented studies for background in supporting his thesis that each thing we decide to purchase has a price.   The price does not always make sense to us.   Moreover, some prices are so attractive that they lead us to make wrong-headed decisions.  

Porter has divided his study into nine elements, each of which carries enormous importance for almost everyone.   The chapter devoted to things reveals some surprising conclusions such as that auctions are searches for fools, those who would actually pay more than an item’s true worth.   The most compelling chapter for this reviewer is about the price of life.   While life is generally perceived as priceless, there are strict rules regarding the criteria used to arrive at the specific figures for victim compensation awards.   (Talk to any law student who has taken Torts and he/she will explain this further.)

The direct approach taken in this book may be a bit jarring for some readers.   And the discussion of the price of women contains phrasing that is sometimes confusing.   This reviewer needed to reread certain passages in order to understand – or attempt to understand – the conclusion(s) drawn by the author.  

This survey book is reminscent of others that have used an organizing principle, like The Tipping Point by Malcolm Gladwell, to bring the reader to an intended conclusion.   Recommended – although the price of $27.95 for just 300 pages seems a bit high!

Ruta Arellano

Reprinted courtesy of San Francisco Book Review.   “A fascinating journey through what we see every day – but do not think enough about.   Eduardo Porter makes you think hard about the corporate interests at work behind the veil of prices (and much more).”   Simon Johnson, co-author of 13 Bankers.

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Connection

What the Dog Saw and other adventures by Malcolm Gladwell (Back Bay Books; $16.99; 410 pages)

Learning is so much fun when Malcolm Gladwell (The Tipping Point, Blink, Outliers) is the instructor.   Gladwell’s calm but engaging style is the common thread in this anthology composed of nineteen essays previously published in the New Yorker magazine.   There is just enough cohesion among the essays to  make for smooth transitions.   Yes, Gladwell cites some facts and studies used by other authors; however, his use of the material takes on a new look when seen through his question and answer format.

This reviewer was fascinated by the piece titled, “The Ketchup Conundrum.”   The reader is presented with the statements, “Mustard now comes in dozens of varieties.   Why has ketchup stayed the same?”   This is a condiment that dominates most others, whether it’s in a booth at a burger joint or on a family’s kitchen table.   One brand in particular rises above the rest in taste tests, and that’s Heinz.   Gladwell provides a charming history of ketchup along with the various challenges that have been made to the Heinz dominance of the field.   After reading the essay, I felt compelled to buy a bottle of Heinz for my own taste test.   Mind you, our household is rarely the scene of actual cooking so I had to be creative in using my purchase.   Happily, the flavor of Heinz blends perfectly with cottage cheese resulting in a pseudo-macaroni and cheese flavor without the carbs.

The preceding example is indicative of the connections that can be made to the everyday life of the reader.   This anthology is by no means a heavy-duty literary work; rather, it prompts conversations with family and friends.   Isn’t that what knowledge does?

Highly recommended.

This review was written by Ruta Arellano.   A copy of the book was purchased for her.

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