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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! | 
 enlarge | Author: Tim Harford
Publisher: Random House Trade Paperbacks
Category: Book
List Price: $14.95
Buy New: $8.53
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Rating:  46 reviews
Sales Rank: 5336
Media: Paperback
Pages: 288
Number Of Items: 1
Shipping Weight (lbs): 0.5
Dimensions (in): 7.8 x 5 x 0.7
ISBN: 0345494016
Dewey Decimal Number: 330.90511
EAN: 9780345494016
ASIN: 0345494016
Publication Date: January 30, 2007
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: Brand new item. Over 4 million customers served. Order now. Selling online since 1995. Order with confidence. Code: B20090107232017T
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Product Description
“The economy [isn’t] a bunch of rather dull statistics with names like GDP (gross domestic product),” notes Tim Harford, columnist and regular guest on NPR’s Marketplace, “economics is about who gets what and why.” In this acclaimed and riveting book–part expose, part user’s manual–the astute and entertaining columnist from the Financial Times demystifies the ways in which money works in the world. From why the coffee in your cup costs so much to why efficiency is not necessarily the answer to ensuring a fair society, from improving health care to curing crosstown traffic–all the dirty little secrets of dollars and cents are delightfully revealed by The Undercover Economist.
“A rare specimen: a book on economics that will enthrall its readers . . . It brings the power of economics to life.”
–Steven D. Levitt, coauthor of Freakonomics
“A playful guide to the economics of everyday life, and as such is something of an elder sibling to Steven Levitt’s wild child, the hugely successful Freakonomics.”
–The Economist
“A tour de force . . . If you need to be convinced of the everrelevant and fascinating nature of economics, read this insightful and witty book.”
–Jagdish Bhagwati, author of In Defense of Globalization
“This is a book to savor.”
–The New York Times
“Harford writes like a dream. From his book I found out why there’s a Starbucks on every corner [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 Electric Universe
“Much wit and wisdom.”
–The Houston Chronicle
From Publishers Weekly
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. While the concepts explored are those encountered in Microeconomics 101, Harford gracefully explains abstruse ideas like pricing along the demand curve and game theory using real world examples without relying on graphs or jargon. The book addresses free market economic theory, but Harford is not a complete apologist for capitalism; he shows how companies from Amazon.com to Whole Foods to Starbucks have gouged consumers through guerrilla pricing techniques and explains the high rents in London (it has more to do with agriculture than one might think). Harford comes down soft on Chinese sweatshops, acknowledging "conditions in factories are terrible," but "sweatshops are better than the horrors that came before them, and a step on the road to something better." Perhaps, but Harford doesn't question whether communism or a capitalist-style industrial revolution are the only two choices available in modern economies. That aside, the book is unequaled in its accessibility and ability to show how free market economic forces affect readers' day-to-day.
Copyright Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
From Bookmarks Magazine
Harford exposes the dark underbelly of capitalism in Undercover Economist. Compared with Steven Levitt’s and Stephen J. Dubner’s popular Freakonomics (*** July/Aug 2005), the book uses simple, playful examples (written in plain English) to elucidate complex economic theories. Critics agree that the book will grip readers interested in understanding free-market forces but disagree about Harford’s approach. Some thought the author mastered the small ideas while keeping in sight the larger context of globalization; others faulted Harford for failing to criticize certain economic theories and to ground his arguments in political, organizational structures. Either way, his case studies—some entertaining, others indicative of times to come—will make you think twice about that cup of coffee.
Copyright 2004 Phillips & Nelson Media, Inc.
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| Customer Reviews: Read 41 more reviews...
 Just boring January 4, 2009
Sergio Uribe (Vina del Mar, Chile)
I bought this book following the recommendation of the author of Freakonomics, but I found a book with just one argument, buy cheap and sell high, but overextended through almost 300 pages. In one eloquent sentence he stated about how simply would be life if an alternative to Microsoft appear. Hey Haltford, do you know Google? IBM? NASA? teh CERN? Facebook? Do you really think them uses Microsoft products? That is the problem of the book, relies on misinformation, and that is why the rich will maintain rich, because they have INFORMATION.
The new paradigm is collaboration, not just buy cheap and sell high. I recommend instead Wikinomics: How Mass Collaboration Changes Everything by Don Tapscott and Anthony D. Williams or just re-read Freakonomics.
 Life is economics January 3, 2009
Barry Hampe (Lake Ridge, VA USA)
One of my many regrets about my misspent college days is that I never took a course in economics. It was not until I got involved with several documentary projects dealing with economics that I started to learn about it through books. One of the best is Tim Harford's "The Undercover Economist." In this book, he explains why normal people do things that defy common sense: pay a big price for a cup of coffee or build a library in a third world country that can't hold any books because the roof can't keep out the rain.
Long ago, in a book called
Systemantics: How Systems Work and Especially How They Fail, I learned that systems work best that are designed to run downhill. That's one reason it's hard for reformers to get people to do the right thing if it involves more cost or effort than the wrong thing. Harford clearly knows the difference between uphill and down, and in ten delightful chapters, he explains it to his readers.
This is an excellent book with which to start learning about economics. It's easy to read, a lot of fun, and really informative.
 not terrible... December 28, 2008
Brian Bex Huff (Minneapolis, MN, USA)
decent coverage of scarcity theory, and slight coverage of comparative advantage, but not much ground-braking information here. Its not as good as Freakonomics, which I also disliked. I'm still looking for a book on classical economic theory that I can tolerate... any suggestions are highly welcome!
Enlightening read, entertaining. November 18, 2008
Michael Bird (Yorba Linda, CA United States)
1 out of 1 found this review helpful
This book kind of over billed itself, with the marketers adding "why the rich are rich, the poor are poor and why you can't find a good deal on a used car." This book doesn't read like Freakanomics, Blink or Tipping Point, unfortunately, because the author does have a lot of good things to say and does do a good job of explaining economic terms and theories in laymen's terms.
I'd recommend this book to anyone that is interested in a better understanding of economics and demystifying some of the jargon and terms used on news broadcasts and in newsprint. There are often people of all strips talking about demand, supply, cost, profit and other things that they know little about or sometimes, worse, think they know something but in reality have an understanding that is completely backwards.
Economics theory builds upon a basic foundation and understanding that foundation and the nature of the bricks laid upon it are crucial to having any grasp of what an economist is talking about when he pontificates or simply gives a lesson. Some things are agreed upon by most, but not all things come under a consensus of what is true and what is false and what is unknowable.
If I'm confusing you a bit here, no worries, read this book and my ramblings will sound completely coherent and simple. The knowledge required to totally grasp the theories and the intricacies of markets and why things are priced how they are is such that if you could totally get this book you wouldn't need to read it.
I think most people would benefit from a reading of this, as most people are blind to economic theories and how markets actually work, and therefore are often beguiled by politicians. I give this work a strong recommendation to those interested in econ and those that are students of it as well.
Objective, entertaining, if inot narrow in scope and flawed in areas November 3, 2008
Riding Dirty (Virginia)
Among social science literature I try to detect bias -- this book obviously contains bias, but relative to other books in this category it is refreshingly objective and based on empiricism, fact, logic.
For example, the authors expose environmental abuses, leftist attacks on 3rd world working conditions, while at the same time offer an empirical defense of abortion as a primary causal mechanism for the decades long reduction in crime.
without offering my personal bias and logical objection to many of the assertions made by the authors, as i have done in other reviews, I will simply note that it is rare that an author attacks extremist environmentalism, defends "sweat shops in china" and defends abortion in the same book.
I would recommend this book for any objective, independent thinking, and rational reader.
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