At the bottom of this post I’m giving away a few copies of a new book from NY Times editorial board member, Eduardo Porter. Make sure you read on to find out how you can win as well as read some really interesting examples of PRICE such as the value of human life and what politicians spent per vote in 2008.
When you think of PRICE what do you think of? Shopping? How much money you’ll have to spend to get something you want? The cost of an iPad, new shoes or a dress?
That’s certainly one form of PRICE but it’s actually so much more.
What about The Price of Happiness? The Price of Life? The Price of Work? The Price of Faith? The Price of Free? Or even The Price of the Future?
PRICE is about choice, priorities, and the value or worth that we set. That value drives our decisions and shapes our lives in more ways than we might initially think. After all, everything has a PRICE doesn’t it? From consumer goods to our time, every choice in where we’ll invest our resources has to do with PRICE.
But PRICE isn’t fixed. You and I might see PRICE in a totally different ways because the PRICE we’re willing to pay is shaped by a variety of things. While I might be willing to pay $10 for a collectible card, you might think it’s only worth $1. And while I might be willing to invest 4 hours of my week on Social Media, you might think that same use of time is worthless.
Everything we do, every choice we make boils down to PRICE.
This is why understanding PRICE is critical in deciphering why people do what they do. Knowing this help us better understand our world, why we make the decisions we do and why others make the choices they make. This knowledge, when used properly, can give you a competitive advantage in business and in life.
This is why I was intrigued when I ran across a new book by NY Times editorial board member, Eduardo Porter. His book, The Price of Everything: Solving the Mystery of Why We Pay What We Do, starts with a simple premise: there is a price behind each choice that we make, whether we’re deciding to have a baby, drive a car, or buy a book. We often fail to appreciate just how critical prices are as motivating forces shaping our lives. But their power becomes clear when distorted prices steer our decisions the wrong way.
This book is an amazing eye-opener that will make you think. Not only think but expose you to some realities about PRICE that could shift your perspective in powerful ways. I’ll post a few other tidbits from the book below such as how you can win a copy, an intro chapter, short video and a few links to interesting articles and stats from the book… things like the estimated value of a human life and The Price of a Vote… how Obama spent $10.50 per vote in his 2008 campaign (that spent $730 million overall).
Oh, and by the way… The Price of Happiness, The Price of Life, The Price of Work, The Price of Faith, The Price of Free, and The Price of the Future that I listed above… those are all chapter titles from the book. There are a few more as well but you can read them all when you pick up a copy.
FIRST 10 25 50 COMMENTERS WILL RECEIVE A FREE BOOK
I’m giving away copies of the book to the first 10 25 50 people who comment on this post. Simply post a comment here and if you are one of the first I’ll email you back to get your mailing address. [ UPDATE: We’ve reached our giveaway limit but don’t let that stop you from picking up a copy of this book. Even if we don’t know each other, trust me… this book is well worth the $15 price. I’m 100% positive it will impact you as it has many others! Order now at Amazon, Barnes and Noble or wherever books are sold . Feel free to also post a comment here and join in on the conversation about PRICE or your thoughts on some of the price stats I’ve listed below. ]
THE PRICE OF EVERYTHING VIDEO:
Feel free to share this video with others.
INTERESTING STATS ON PRICE:
Information below originally posted on The Huffington Post (read the full article here).
$.79 = What advertisers paid to put a 30 second commercial in front of each of the 10.6 million households watching “Desperate Housewives” in 2009.
$10.50 = The cost of each vote Barack Obama received in 2008, based on his campaign spending of $730 million. John McCain only spent $5.60 for each of his votes.
$65 = What Montgomery Ward charged for a one-speed bicycle in 1895 -– the equivalent of 6.5 weeks of work for the typical worker. Today the firm will sell a multispeed model for $350, which is only 19 hours of work for the average consumer.
$999 = The cost of the “I Am Rich” iPhone app, which did nothing but flash a glowing red gem on the screen. Six people bought it before Apple pulled it from the App Store.
$75,000 = Tom Cruise’s fee for Risky Business in 1983. Over the next 25 years his fee (including profit participation) would spike to over $75 million for Mission Impossible II.
$7,500,000 = The estimated value of a human life, according to the United States Environmental Protection Agency guidelines, in 2009 dollars. On the other hand, the 9/11 Victim’s Compensation Fund paid an average of $2 million to the next of kin of 2,880 terrorism victims.
DESCRIPTION FROM THE BOOK WEBSITE:
Many of the prices we pay seem to make little sense. We shell out $2.29 for a coffee at Starbucks when a nearly identical brew can be had at the corner deli for less than a dollar. We may be less willing to give blood for $25 than to donate it for free. Americans hire the cheap labor of illegal immigrants to fix the roof or mow the lawn and vote for politicians who promise to spend billions to keep them out of the country. And citizens of the industrialized West pay hundreds of dollars a year in taxes or cash for someone to cart away trash that would be a valuable commodity in poorer parts of the world.
Eduardo Porter uncovers the true story behind the prices we pay and reveals what those prices are actually telling us. Porter weaves together the constant-and often unconscious-cost and value assessments we all make every day. While exploring the fascinating story behind the price of everything from marriage and death to mattresses and horsemeat, Porter draws unexpected connections that bridge a wide range of disciplines and cultures. The result is a cogent and insightful narrative about how the world really works.