The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor - and Why You Can Never Buy a Decent Used Car! by Tim HarfordThe Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor - and Why You Can Never Buy a Decent Used Car! by Tim Harford

The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor - and Why You Can Never…

byTim Harford

Hardcover | August 3, 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.

About The Author

Tim Harford is a Senior Columnist for the Financial Times and author of several books. He is a Visiting Fellow at Nuffield College, Oxford, a Senior Visiting Fellow at Cass Business School, and he lives in Oxford with his wife and three children.
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Details & Specs

Title:The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor - and Why You Can Never…Format:HardcoverDimensions:304 pages, 9.25 × 6.12 × 0.98 inPublished:August 3, 2012Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199926514

ISBN - 13:9780199926510

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Table of Contents

Preface to the second editionIntroduction1. Who Pays for Your Coffee?2. What Supermarkets Don't Want You to Know3. Perfect Markets and the "World of Truth"4. Crosstown Traffic5. The Inside Story6. Rotten Investments and Rotten Eggs7. The Men Who Knew the Value of Nothing8. Why Poor Countries Are Poor9. Beer, Fries, and Globalization10. How China Grew RichNotesIndexAcknowledgments

Editorial Reviews

"As Tim Harford demonstrates brilliantly in this enjoyable book, the powerful underlying ideas of economics can, in the hands of the right person, illuminate every aspect of the world we inhabit." --Martin Wolf, The Financial Times