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The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car!
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Sales rank 120,301
Customers rating (based on 126 reviews)
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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.
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| Publisher | Oxford University Press, USA | | Release date | 11/2005 | | Availability | Usually ships in 24 hours | | Edition | Hardcover |
| | List price | $35 | | Our price | $23.1 (you save 34.00%) | | Used price | from $0.97 |
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 Wonderfully Enlightening
This book is a wonderfully enlightening description of how economies work. It includes discussions about prices, poverty, wealth, and the overall reality of why the economic world works the way it does.
I've always avoided economics-related stuff, because so much of it is so dry & boring & unintelligible. But this book really breaks it down beautifully.
Especially enlightening is his well-justified description of how wealth builds in some places and why poverty festers in other places. It's a refreshing reprieve from the typical blame/shame-based "poor people are poor because rich people are evil" rhetoric that is so pervasive in our world today.
A great read Mr. President
Great introduction to economics in a way that will not put you to sleep. Every person who graduates from high school should read this book so there will not be so many confused people who end up voting for the liberal ticket on monetary issues. Mr. President, it would not hurt for you to read this book also.
Economics shouldn't be this fun
I have a soft spot for economics books, especially somewhat poppy ones. Mr Hartford strikes a perfect balance between poppy and teaching core principals. In fact I had a very hard time putting this book down.
What sets this book apart from other economics books are the examples. Mr Hartford's choices range from Starbucks (why coffee beans will always be cheap but coffee won't be) to the true cost of tariffs to health care reform. In fact his was the only argument for health saving accounts (combined with insurance) that actually makes sense to me. And while he's not in the Prof. Krugman camp, he's not far off.
The final two chapters, on globalization and China, are also extremely well written and help present the net societal benefits of globalization and also helps to explain the true costs of tariffs. These chapters are both to the point and, more importantly, don't sugar coat the problems that are inherent to the system and the dangers of doing things half way.
This was a quick, fun and enlightening read. What more can you ask for!
Become an economist (almost) instantly!
This was a great introduction to the field of economics.
He starts off talking about coffee shops and why they are at the top of every major subway escalator in every major city. Why not 2, or 3 shops? Why even 1? Why not a car dealership? He uses this to explain some key principles that then are used throughout the book.
I now see things in a different way. Lessons from this book almost inform me daily. For example, I live in a suburb about 30 miles south of Washington DC. Driving down the road and passing a taxi, my wife pondered if a taxi driver in a dispersed county makes more or less than a DC cab driver. After reading this book, I felt fairly confident telling her that they most probably made the same amount of money. Why? Well, you have to read the book.
He also gives a compelling argument for free markets and free trade. I don't believe he championed a specific political view (I lean left) but it made issues like trade with China make more sense.
It is VERY dense. I suspect the alternative is a book twice the size with more fluff but it really makes your brain hurt from time to time. But what he says is always interesting.
Anyway, I would highly recommend this book if you want to better understand what motivates people and how the world works.
Flawed yet worthy
Using humorous and applicable examples, Harford manages to bring some complex economic concepts down to a basic level of understanding, similar to Steven Landsburg's book The Armchair Economist. Landsburg's book is a more engaging read, and his writing more precise, but where Harford really shines out is that he manages to keep his book easy to read from page to page, while Landsburg has a tendency to get caught up in confusing technical language and jargon.
If you're looking for a good source of some sound (and simple) economic explanation, Harford's book is a great place to start; it's clear enough and interesting enough that you're sure to find what you're looking for.
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