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Russell Roberts, The Price of Everything: A Parable of Possibility and Prosperity In chapter 10 of the...

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Economics

Russell Roberts, The Price of Everything: A Parable ofPossibility and Prosperity

In chapter 10 of the story, “No Host No Problem,” Ramon accusesRuth of “romanticizing the market” and of “romanticizing profits.”Ruth agrees but candidly replies that the market “deserves someromance.” What does she mean? (Hint: the specific tangible benefitsof the invisible hand vs. short-run government policies.)

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When Ruth says market does deserve some romance emphasize is on the role market plays in the economyMarket performed a variety of functions like facilitating the exchange of goods and services setting prices and rationing Invisible hand is a natural force that self regulates the economyAdam Smith was of the opinion that individual decision In a market economy to benefit them would    See Answer
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