The Undercover Economist

The Undercover Economist

Book - 2012
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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 lurkingbehind daily events, explaining everything from traffic jams to high coffee prices.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 to bear 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 otherindustries 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 knowingit.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.
Publisher: New York, NY : Oxford University Press, c2012
Edition: 2nd ed
ISBN: 9780199926510
Characteristics: ix, 293 p. ; 25 cm


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Jun 20, 2013

From buying a latte to a long or even a short black, this book might well save you a lot of money, alter the way your supermarket shopping, buy a property, even view the proposed green belt of the government's rebuilding plans for Christchurch.

I wish I'd known many of these secrets a long time ago!

Dec 09, 2010

This was a recommended read for my microeconomics subject in first year. I read it when I finished the subject and was amazed at how well it was written and that even a person completely unfamiliar with microeconomics could easily understand. If you read any book on microeconomics, this is the one.


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