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The Undercover Economist, by TIM HARFORD
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Author of the extremely popular "Dear Economist" column in Financial Times, Tim Harford reveals the economics behind everyday phenomena in this highly entertaining and informative book. Can a book about economics be fun to read? It can when Harford takes the reins, using his trademark wit to explain why it costs an arm and a leg to buy a cappuccino and why it's nearly impossible to purchase a decent used car. Supermarkets, coffee houses, airlines, insurance companies and more are sucking money from our wallets. To protect ourselves and our bank accounts, we must better understand why companies do what they do. Hailed by Publishers Weekly as "unequaled in its accessibility," The Undercover Economist is a sheer delight-and the one book on economics that every American should read.". a book on economics that will enthrall its readers. Beautifully written and argued, it brings the power of economics to life. This book should be required reading ."-Steven D. Levitt, author of Freakonomics
- Sales Rank: #3080692 in Books
- Brand: Brand: ABACUS
- Published on: 2007
- Format: Import
- Original language: English
- Number of items: 1
- Dimensions: 7.68" h x 1.02" w x 5.12" l, .71 pounds
- Binding: Paperback
- 288 pages
- Used Book in Good Condition
From Publishers Weekly
Nattily packaged-the cover sports a Roy Lichtensteinesque image of an economist in Dick Tracy garb-and cleverly written, this book applies basic economic theory to such modern phenomena as Starbucks' pricing system and Microsoft's stock values. While the concepts explored are those encountered in Microeconomics 101, Harford gracefully explains abstruse ideas like pricing along the demand curve and game theory using real world examples without relying on graphs or jargon. The book addresses free market economic theory, but Harford is not a complete apologist for capitalism; he shows how companies from Amazon.com to Whole Foods to Starbucks have gouged consumers through guerrilla pricing techniques and explains the high rents in London (it has more to do with agriculture than one might think). Harford comes down soft on Chinese sweatshops, acknowledging "conditions in factories are terrible," but "sweatshops are better than the horrors that came before them, and a step on the road to something better." Perhaps, but Harford doesn't question whether communism or a capitalist-style industrial revolution are the only two choices available in modern economies. That aside, the book is unequaled in its accessibility and ability to show how free market economic forces affect readers' day-to-day.
Copyright � Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
From Bookmarks Magazine
Harford exposes the dark underbelly of capitalism in Undercover Economist. Compared with Steven Levitt’s and Stephen J. Dubner’s popular Freakonomics (*** July/Aug 2005), the book uses simple, playful examples (written in plain English) to elucidate complex economic theories. Critics agree that the book will grip readers interested in understanding free-market forces but disagree about Harford’s approach. Some thought the author mastered the small ideas while keeping in sight the larger context of globalization; others faulted Harford for failing to criticize certain economic theories and to ground his arguments in political, organizational structures. Either way, his case studies—some entertaining, others indicative of times to come—will make you think twice about that cup of coffee.
Copyright � 2004 Phillips & Nelson Media, Inc.
Review
"As Tim Harford demonstrates brilliantly in this enjoyable book, the powerful underlying ideas of economics can, in the hands of the right person, illuminate every aspect of the world we inhabit."
Most helpful customer reviews
0 of 0 people found the following review helpful.
Probably the best book I have read in my entire life!
By Xiaolong Cui
This particular book changed my perspective on how to think. The analysis of normal things and phenomenon is so logical and intelligent. I absolutely love the way of logical deduction from Tim Harford. This book is also surprisingly easy to read. It doesn't have equations or graphs that a regular economy textbooks would have. You need to read this book if you haven't read it yet!
0 of 0 people found the following review helpful.
This is my favorite economics book
By jasper burch
This is my favorite economics book. It is a pretty light read, but subtly changes the way you view the world. It is not infrequently that I find myself musing on price discrimination while ordering a cup of coffee, or eye opening economic principals in every day life occurrences. I highly recommend this book for anyone looking for a fresh look at everyday economics.
0 of 0 people found the following review helpful.
For people who want to understand economics but are put off by economic jargon
By Steve Summers
It's a dull truism that there's no economic theory so preposterous that it hasn't been seriously advocated by an economist. But it is equally true that real economic wisdom has been provided by practitioneers of the "dismal science". All economic insights--good and bad--tend to have a shelf life. Without periodic renewal the best ideas become stale platitudes distilled into curves in textbook graphs, then slowly rinsed away by the latest or (most politically comfortable) fad. We need readable economists to periodically dust off timeless truths of human behavior with original perspectives that cut through the fog of political rhetoric and identify by relevant metaphor and example what actually works for us, and why it does. Harford does this with a folksy, conversational wit that avoids the polarizing arguments that attend every economic controversy. This isn't any groundbreaking milestone in the advance of economic theory, but it is a humorously wise series of essays presented in original (and very eloquent) ways.
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