The Undercover Economist by Tim Harford
Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car!

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Synopsis

An economist's version of The Way Things Work, this engaging volume is part field guide to economics and part expose of the economic principles lurking behind daily events, explaining everything from traffic jams to high coffee prices.
The Undercover Economist is for anyone who's wondered why the gap between rich and poor nations is so great, or why they can't seem to find a decent second-hand car, or how to outwit Starbucks. This book offers the hidden story behind these and other questions, as economist Tim Harford ranges from Africa, Asia, Europe, and of course the United States to reveal how supermarkets, airlines, and coffee chains--to name just a few--are vacuuming money from our wallets. Harford punctures the myths surrounding some of today's biggest controversies, including the high cost of health-care; he reveals why certain environmental laws can put a smile on a landlord's face; and he explains why some industries can have high profits for innocent reasons, while in other industries something sinister is going on. Covering an array of economic concepts including scarce resources, market power, efficiency, price gouging, market failure, inside information, and game theory, Harford sheds light on how these forces shape our day-to-day lives, often without our knowing it.
Showing us the world through the eyes of an economist, Tim Harford reveals that everyday events are intricate games of negotiations, contests of strength, and battles of wits. Written with a light touch and sly wit, The Undercover Economist turns "the dismal science" into a true delight.
 

About Tim Harford

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Tim Harford writes the "Dear Economist" column in the Financial Times Magazine, in which he draws upon the latest economic theories to provide tongue-in-cheek answers to readers' personal dilemmas. Formerly an economics editorial writer at the Financial Times, Harford has worked at the International Finance Corporation, for a major oil company, and as an economics tutor at Oxford University. He lives in Washington DC.
 
Published October 14, 2005 by Oxford University Press. 288 pages
Genres: Business & Economics, Self Help. Non-fiction

Unrated Critic Reviews for The Undercover Economist

Publishers Weekly

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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.

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Bookmarks Magazine

Landsburg San Diego Union-Tribune 2 of 5 Stars "Harford, like so many contemporary economists, would have us believe that economics is only about competition, choice, negotiation and calculation.

Aug 28 2007 | Read Full Review of The Undercover Economist: Exp...

MoneyWeek

Enter Tim Harford, who over the past few years has written weekly articles in the FT applying economic principles to everyday life – issues have ranged from flossing teeth to buying leeks – and has now produced a book to show that economics is far more intriguing and relevant than most people bel...

May 24 2006 | Read Full Review of The Undercover Economist: Exp...

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