The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor - And Why You Can Never Buy a Decent Used Car! (Revised, Updated)

By Tim Harford
With over one million copies sold, The Undercover Economist has been hailed worldwide as a fantastic guide to the fundamental principles of economics. An economist's version of The Way Things Work, this engaging volume is part Economics 101 and part expose of the economic principles lurking behind daily events, explaining everything from traffic jams to high coffee prices.

New to this edition This revised edition, newly updated to consider the banking crisis and economic turbulence of the last four years, is essential for anyone who has 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. Senior columnist for the Financial Times Tim Harford brings his experience and insight as he ranges from Africa, Asia, Europe, and 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.



    REVIEW QUOTES

Praise for The "Undercover Economist":
"Required reading."
--Steven Levitt, author of Freakonomics
"A playful guide to the economics of everyday life, and as such. . . something of an elder sibling to Steven Levitt's wild child, the hugely successful Freakonomics."
--"The Economist"
"A book to savor."
--"The New York Times"
"The Undercover Economist is a book you must pick up if you want a fresh perspective on how basic ideas in economics can help in answering the most complex and perplexing questions about the world around us."
--"Business Today"
"Anyone mystified by how the world works will benefit from this book - especially anyone confused about why good intentions don't, necessarily, translate into good results."
--"The Daily Telegraph" (UK)
"Harford writes like a dream-and is also one of the leading economic thinkers of his generation. From his book I found out why there's a Starbucks on every corner, what Bob Geldof needs to learn to make development aid work properly, and how not to get duped in an auction. Reading The Undercover Economist is like spending an ordinary day wearing X-ray goggles."
--David Bodanis, author of E=mc2 and Electric Universe
"Popular economics is not an oxymoron, and here is the proof. This book, by the Financial Times columnist Tim Harford, is as lively and witty an introduction to the supposedly "dismal science" as you are likely to read."
--"The Times"




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About the Hardcover

Publisher Oxford University Press, USA
Publish date 08/15/2012
Pages 293
ISBN-13 9780199926510
ISBN-10 0199926514
Language English

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