The Undercover Economist
Critically acclaimed as one of the most successful economy books of all time, and a 'must-read' for those of us in the general public who want to understand how society works, but do not want this information to be conveyed in an Oxbridge multipolysyllabic tone, Tim Harford's book gives us an insight into the relevance of the economy to our everyday lives. It begins humbly with the author's relatable bemoaning of coffee and its prices, which is cleverly analogized in the simple, but brilliant and still-relevant ideas of nineteenth-century economist David Ricardo. Organized into clear chapters which target different aspects of the economy's impacts on our life, the book later progresses onto more developed concepts such as the reasons (sub-prime mortgages!) behind the banking collapse of Lehman Brothers in 2008. Written in an aware style from an economist's perspective, this book is thoroughly worthwhile reading.
Themes & atmosphere
What you might want to know about The Undercover Economist
The questions readers send us most often, answered without spoilers.
Financial Times columnist Tim Harford walks through everyday markets, from a Costa Coffee on Waterloo Station to used-car dealers and Cameroon's failing roads, and uses each one to show how scarcity, signaling, and tax incidence quietly run ordinary economic life.
The Undercover Economist applies microeconomic concepts (price discrimination, scarcity power, externalities) to everyday situations. Tim Harford's debut book launched his career as a popular economics writer.
Yes. The Undercover Economist (2005) appeared a few years after Freakonomics (2005). Tim Harford's framework is more traditional microeconomics; Freakonomics is more about applying economic methods to non-traditional questions.
The Undercover Economist was written by Tim Harford, published in 2012 by Oxford.
The Undercover Economist is 293 pages in standard print editions, though page counts vary slightly between hardcover, paperback, and large-print formats.
At an average reading pace of about 250 words per minute, The Undercover Economist takes most readers 4 to 6 hours to finish.
The Undercover Economist is a standalone novel by Tim Harford, not part of a series.
The Undercover Economist is available in hardcover, paperback, ebook, and audiobook formats from Amazon, Bookshop.org, ThriftBooks, and most major bookstores.