This May, as we celebrate Asian American and Pacific Islander Heritage Month, we wanted to take an opportunity to shine a light on some of the... To see what your friends thought of this book, There was a point at the start of this book when I thought I wasn’t going to make it to the end – or even past the start. There are no any conventional ideas that can let you down or give you the feeling of reading a boring academic book. The Undercover Economist is a clearly-written and thorough introduction to economics using practical examples such as coffee shops and grocery store pricing, … I was set against Tim Harford on the very first page of this book, where he details his habit of reading books he has not yet purchased in the bookshop cafe, to see if he'd like to buy them. --Business Today "[Harford] is in every sense consumer-friendly. His column, “The Undercover Economist”, which reveals the economic ideas behind everyday experiences, is published in the Financial Times and syndicated around the world. How does the Mafia make money from laundries when street gangs pushing drugs don't? Read it as a re-introduction to a few economic concepts I was introduced to at business school. Following my recent interest in books on the psychology of decision-making and behavioral economics, I thought it might be interesting to read up on some actual economics. He also addresses classic economic problems--why is it hard to buy a used car? etc., as compared to why you should name your child "Tova". Hello Select your address All Hello, Sign in. Why is it impossible to get a foot on the property ladder? Join Blinkist for an in-depth discussion in this video, The eyes of an economist, part of The Undercover Economist: The Economics behind Everyday Decisions (Blinkist Summary). Tim did a great job revealing about Cameroon, Nepal, India and yeah China's economy. His column, “The Undercover Economist”, which reveals the economic ideas behind everyday experiences, is published in the Financial Times and syndicated around the world. An essential one for every economics students. It is, in some sense, unfair to be reviewing this book now. Reviewed in the United Kingdom on July 6, 2017. In the Undercover Economist column he writes for the Financial Times, Tim Harford looks at familiar situations in unfamiliar ways and explains the fundamental principles of the modern economy. Why is it impossible to buy a decent second hand car? this books gives you the first intuitions about economy conundrums and gives visions to widen up our views to those problems, it is entertaining and easy( maybe too much) to read, I enjoyed reading it. why do all the restaurants in Times Square suck? He illuminates them with clear writing and a variety of examples borrowed from daily life. 1st April, 2021 | Undercover Economist In 1928, Karl Jansky, a young radio engineer at Bell Telephone Laboratories, began researching static interference that might obscure voice transmissions. The Undercover Economist, written by Tim Harford, is great for this – requiring no previous knowledge of the subject, it starts by explaining a lot of important and interesting economic ideas using comparisons and analogies that relate the economics to everyday issues. Every pop economics book that I've read have said something about China's rise, here there is a chapter dedicated to it. The Undercover Economist is a short, easy, but ultimately forgettable read. The Undercover Economist, Revised and Updated Edition: Exposing Why the Rich Are Rich, the Poor Are Poor - and Why You Can Never Buy a Decent Used Car! Really good read, interesting, informative and nicely written. “There is much more to life than what gets measured in accounts. I knew I would have to get myself into an economics frame of mind for the future, and this seemed like the perfect one to do it. Account & Lists Account Returns & Orders. —Business Today “[Harford] is in every sense consumer-friendly. Because Harford, unlike Levitt, actually explains the reasoning and the data he used to follow a problem from its formulation through to its conclusions. He wrote the book in 2005, after Enron but before Lehman Brothers (both nouns which now represent events more than companies), and in it you will find little analysis of how either came to pass. Harford offers a decent little introduction to some of the more basic applications of economics. Just a moment while we sign you in to your Goodreads account. Hamish McRae @TheIndyBusiness. He also addresses classic economic problems--why is it hard to buy a used car? He is also the only economist in the world to run a problem page, “Dear Economist”, in which FT readers’ personal problems are answered tongue-in-cheek with the late Tim Harford is a member of the Financial Times editorial board. They stay there, too; turnover rates of multinational-owned factories are low, because conditions and pay, while bad, are better than those in factories run by local firms. The Undercover Economist (ISBN 0-19-518977-9) (ISBN 0345494016) is a book by Tim Harford published in 2005 by Little, Brown. why do all the restaurants in Times Square suck? An economist's version of The Way Things Work, this engaging volume is part Economics 101 and part expos of the economic principles lurking behind daily events, explaining everything from traffic jams to high coffee prices. (He had been brought up to believe that food and drink was something to be consumed at home, not purchased at inflated prices outside the home, a view of continuing disappointment to his wife). Somewhat. And even a local company is likely to pay better than trying to earn money without a job: running an illegal street stall, working as a prostitute, or combing reeking landfills in cities like Manila to find recyclable goods.”, 72 New Books by Asian American Authors to Read Now. Who really benefits from immigration? He’s the author of the bestselling The Undercover Economist, The Undercover Economist Strikes Back, Messy, Fifty Inventions That Shaped the Modern Economy, Adapt, and The Logic of Life. The practical approach towards everyday walk of life. In The Undercover Economist, author Tim Harford demystifies economic systems, explaining how they impact the basic choices we make each day. So you get explanations of "perfect" markets, inefficiencies, externalities, and other economic jargon. Tim Harford is, primarily, an orthodox economist, and it is not a good time to be defending orthodox economics. --The Economist "A book to savor." Wages are pitiful. This book should be required reading for every elected official, business leader, and university student. Introducing the book to the Monthly Book Group, the proposer said he had chosen it because his wife was buying a book for a rail journey, and, as there was a two for one offer at the station, he chose this. Verified Purchase. The Undercover Economist is a rare specimen: a book on economics that will enthrall its readers. ‎Who makes most money from the demand for cappuccinos early in the morning at Waterloo Station? The Undercover Economist, by Tim Harford Creative accounts. —The Economist "A book to savor." Tim Harford is an award-winning journalist, economist, and broadcaster. It ranges from the small (the economics of Starbucks and how to prevent traffic jams) to the huge (why poor countries stay poor and how china became rich). It is because it dealt mostly with coffee, beer, poker and game theory - some of the things I'm obsessed with. Harford is a great writer and manages to frame his topics in a way that is both highly relevant to real life while being simple enough that anyone can understand. Sweatshops are better than the alternative, and given time (decades) lead to prosperity, but people are still suffering today, right now, so how do you address that without throwing off the progress over time? (Note: I don't know either! ; What Supermarkets Don’t Want You to Know; Exposing Why The Rich Are Harford is currently a senior columnist at… More about Tim Harford In a sense , I meant to say that by putting the topic "coffee" as a first topic it attracted my attention such as raising prices and sugar coating products to sell out to price sensitive customers who was willing to buy what was worth more than price. Why? After stumbling across a dusty copy on my Old Man’s bookshelf, I thought I’d give it a gander and found it to be a pleasantly intriguing read. I had gotten some of this out of Freakonomics and Superfreakonomics by Levitt and Dubner, but Tim Harford's Undercover Economist is a little less afraid to throw in actual economic theory and terms. He is also the only economist in the world to run a problem page, “Dear Economist”, in which FT readers’ personal problems are answered tongue-in-cheek with the late Tim Harford is a member of the Financial Times editorial board. Harford says he's going to tell you how the world really works, how economics provides insight into our activity. Enjoyed it. Let us know what’s wrong with this preview of, Published Get your croissanty hands off the nice new books, Tim. Who really … This was an admirable attempt by the author to make economic theory much more accessible to the casual reader of the subject. A long time ago I did an economics degree. Looking at familiar situations in unfamiliar ways, THE UNDERCOVER ECONOMIST is a fresh explanation of the fundamental principles of the modern economy, illuminated by examples from the streets of London to the booming skyscrapers of Shanghai to the sleepy canals of Bruges. Enjoyable read. Start by marking “The Undercover Economist” as Want to Read: Error rating book. It is, in some sense, unfair to be reviewing this book now. His chapter on heal. Nicely written and not to difficult to follow. Surprising. It was when the market economy was described as. The Undercover Economist: Harford, Tim: Amazon.sg: Books. I picked this book up on a whim. Tim Harford writes the Undercover Economist column, and was previously an economics leader writer for the FT. --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." What he really tells you is how awesome the world would be if it was run by economists and everybody always acted rationally, if by 'rationally' you mean the economics jargon of 'assigning a monetary value to every single action/object in life' and not the common usage of 'according to the rules of logic'. etc., as compared to why you should name your child "Tova". Even economists know that.”, “Hours are long. Exposing Why the Rich Are Rich, the Poor Are Poor – and Why You Can Never Buy a Decent Used Car! For example, the recent banking crisis and the recession that followed are beautifully explained through a comparison with an egg factory dealing … No, despite the analysis of railway station coffee outlets in Harford’s opening chapter, he had not also succumbed to the temptation to buy an expensive coffee. His column, “The Undercover Economist”, which reveals the economic ideas behind everyday experiences, is published in the Financial Times and syndicated around the world. The best bits are at the start (price targeting in coffee) and at the end (China's economic success). His chapter on health care and why it's so difficult to get a system that works is one of the clearest explanations of the problems and potential solutions that I've read anywhere. Best-selling, but not particularly brilliany by any means. The chapter on the auctioning of “air” (radio spectrum) was brilliant. This is a nice light read for anyone interested in economics explained in Layman’s terms. Looking at familiar situations in unfamiliar ways, THE UNDERCOVER ECONOMIST is a fresh explanation of the fundamental principles of the modern economy, illuminated by examples from the streets of London to the booming skyscrapers of Shanghai to the sleepy canals of Bruges. Be the first to ask a question about The Undercover Economist. (He had been brought up to believe that food and drink was something to be consumed at home, not purchased at inflated prices outsid. Which is something like reading a book on the Internet that doesn't mention viruses, or a book on biology that never mentions death or disease. It would be more efficient to … (Note: I don't know, Rereading it several years later, and with a bit more background in econ, I still find it informational and entertaining, but it highlights some of the frustrations I have with econ: great for revealing insights, a struggle when it comes to applying it to public policy. Workers go there voluntarily, which means—hard as it is to believe—that whatever their alternatives are, they are worse. As a former World Bank employee and. The Undercover Economist is a clearly-written and thorough introduction to economics using practical examples such as coffee shops and grocery store pricing, auctions, congestion charges and health care systems. Because Harford, unlike Levitt, actually explains the reasoning and the data he used to follow a problem from its formulation through to its conclusions. I imagine that someone with a serious background in economics might not learn much, and therefore might not be impressed by this book, but for me it was perfect. But sweatshops are the symptom, not the cause, of shocking global poverty. From buying a used car to purchasing health insurance, Harford takes a look at a variety of situations that can have a real pratical impact on how we look at some of our everday activities. He is also the only economist in the world to run a problem page, “Dear Economist”, in which FT readers’ personal problems are answered tongue-in-cheek with the late. ... was the result of applying straightforward economic ideas. Harford does a very good job explaining some of the basic fundamental concepts (e.g., law of diminishing returns) and some much more complex ones (e.g., some of the principles of game theory). Whoever calls Tim Harford a die-hard free market fanatic should really do some research. 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.. Beautifully written and argued, it brings the power of economics to life. I found this book to be a useful reminder of some basic economics packaged up in easy to understand every day concepts. For example, due to problems with information quality on both sides of the deal, it's basically impossible to buy a decent used car at a reasonable price. The book is basically trying to get you to look at the world through the lens of economics. Harford is a great writer and manages to frame his topics in a way that is both highly relevant to real life while being simple enough that anyone can understand. The Undercover Economist is a clearly-written and thorough introduction to economics using practical examples such as coffee shops and grocery store pricing, auctions, congestion charges and health care systems. A grown up Freakonomics for those who care more about the world around them and less about narrow topics like baby names and drug dealers. I'm a sucker for pop books about economics, and this is the best of the breed -- better, even, than that NYT bestseller Freakonomics. Read this book using Google Play Books app on your PC, android, iOS devices. The Undercover Economist: The Economics behind Everyday Decisions (Blinkist Summary) Course General Start my 1-month free trial 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 … I imagine that someone with a serious background i. by Oxford University Press, USA. With over one million copies sold, The Undercover Economist has been hailed worldwide as a fantastic guide to the fundamental principles of economics. With over one million copies sold, The Undercover Economist has been hailed worldwide as a fantastic guide to the fundamental principles of economics. I laughed a little when i finished the book to realized that the book itself was a way to make me buy the book using its own strategy. A well-written, clever view of many of the most practical concepts in economics. The book's success - as it's author might testify - is probably down to the supply and demand ratio for economics books that aren't bloody dull. How do the Mafia make money from laundries when street gangs pushing drugs don’t? The Undercover Economist is a clearly-written and thorough introduction to economics using practical examples such as coffee shops and grocery store pricing, … The Inside Story Narrator Tim Harford presents you the hidden economic conspiracy and truths. The best bits are at the end ( China 's economy to your Goodreads account a question the! “ Hours are long reviewing this book yet of many of the most points. Applying straightforward economic ideas Sign in why do all the restaurants in Times Square suck great job about. 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