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The Undercover Economist Paperback – 8 March 2007

4.4 out of 5 stars 1,564 ratings

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Who makes most money from the demand for cappuccinos early in the morning at Waterloo Station Why is it impossible to get a foot on the property ladder How does the Mafia make money from laundries when street gangs pushing drugs don't Who really benefits from immigration How can China, in just fifty years, go from the world's worst famine to one of the greatest economic revolutions of all time, lifting a million people out of poverty a month

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. Leaving behind textbook jargon and equations, Tim Harford will reveal the games of signals and negotiations, contests of strength and battles of wit that drive not only the economy at large but the everyday choices we make.

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Review

"Required reading."
--Steven Levitt, author of Freakonomics
"A playful guide to the economics of everyday life, and as such. . . something of an elder sibling to Steven Levitt's wild child, the hugely successful Freakonomics."
--"The Economist"
"A book to savor."
--"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."
--"Business Today
"
"[Harford] is in every sense consumer-friendly. His chapters come in bite-size sections, with wacky sub-headings. His style is breezy and no-nonsense. . . . The Undercover Economist" "is part primer, part consciousness raiser, part self-help manual." --"Times Literary Supplement"
"Anyone mystified by how the world works will benefit from this book - especially anyone confused about why good intentions don't, necessarily, translate into good results."
--"The Daily Telegraph" (UK)
"Harford writes like a dream - and is also one of the leading economic thinkers of his generation. From his book I found out why there's a Starbucks on every corner, what Bob Geldof needs to learn to make development aid work properly, 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 E=mc2 and Electric Universe
"Popular economics is not an oxymoron, and here is the proof. This book, by the "Financial Times" columnist Tim Harford, is as lively and witty an introduction to the supposedly 'dismal science' as you are likely to read."
--"The Times"

" Required reading."
-- Steven Levitt, author of Freakonomics
" A playful guide to the economics of everyday life, and as such. . . something of an elder sibling to Steven Levitt's wild child, the hugely successful Freakonomics."
-- "The Economist"
" A book to savor."
-- "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."
-- "Business Today"
" Anyone mystified by how the world works will benefit from this book - especially anyone confused about why good intentions don' t, necessarily, translate into good results."
-- "The Daily Telegraph" (UK)
" Harford writes like a dream - and is also one of the leading economic thinkers of his generation. From his book I found out why there's a Starbucks on every corner, what Bob Geldof needs to learn to make development aid work properly, 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 E=mc2 and Electric Universe
" Popular economics is not an oxymoron, and here is the proof. This book, by the "Financial Times" columnist Tim Harford, is as lively and witty an introduction to the supposedly 'dismal science' as you are likely to read."
-- "The Times"

Praise for The "Undercover Economist":
" Required reading."
-- Steven Levitt, author of Freakonomics
" A playful guide to the economics of everyday life, and as such. . . something of an elder sibling to Steven Levitt's wild child, the hugely successful Freakonomics."
-- "The Economist"
" A book to savor."
-- "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."
-- "Business Today"
" Anyone mystified by how the world works will benefit from this book - especially anyone confused about why good intentions don' t, necessarily, translate into good results."
-- "The Daily Telegraph" (UK)
" Harford writes like a dream- and is also one of the leading economic thinkers of his generation. From his book I found out why there's a Starbucks on every corner, what Bob Geldof needs to learn to make development aid work properly, 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 E=mc2 and Electric Universe
" Popular economics is not an oxymoron, and here is the proof. This book, by the Financial Times columnist Tim Harford, is as lively and witty an introduction to the supposedly " dismal science" as you are likely to read."
-- "The Times"

Praise for The "Undercover Economist":
"Required reading."
--Steven Levitt, author of Freakonomics
"A playful guide to the economics of everyday life, and as such. . . something of an elder sibling to Steven Levitt's wild child, the hugely successful Freakonomics."
--"The Economist"
"A book to savor."
--"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."
--"Business Today"
"Anyone mystified by how the world works will benefit from this book - especially anyone confused about why good intentions don't, necessarily, translate into good results."
--"The Daily Telegraph" (UK)
"Harford writes like a dream-and is also one of the leading economic thinkers of his generation. From his book I found out why there's a Starbucks on every corner, what Bob Geldof needs to learn to make development aid work properly, 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 E=mc2 and Electric Universe
"Popular economics is not an oxymoron, and here is the proof. This book, by the Financial Times columnist Tim Harford, is as lively and witty an introduction to the supposedly "dismal science" as you are likely to read."
--"The Times"

Book Description

A brilliant and eye-opening explanation of the economics of everyday life - Britain's answer to FREAKONOMICS

Product details

  • Publisher ‏ : ‎ Abacus
  • Publication date ‏ : ‎ 8 March 2007
  • Edition ‏ : ‎ 1st
  • Language ‏ : ‎ English
  • Print length ‏ : ‎ 384 pages
  • ISBN-10 ‏ : ‎ 0349119856
  • ISBN-13 ‏ : ‎ 978-0349119854
  • Item weight ‏ : ‎ 308 g
  • Dimensions ‏ : ‎ 12.5 x 2.5 x 19.5 cm
  • Customer Reviews:
    4.4 out of 5 stars 1,564 ratings

About the author

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Tim Harford
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Tim is an economist, journalist and broadcaster.

He is the author of nine books including “How To Make The World Add Up”, “Messy”, and the million-selling “The Undercover Economist”. Tim is a senior columnist at the Financial Times, and the presenter of Radio 4’s “More or Less”, “Fifty Things That Made the Modern Economy”, and the new podcast “Cautionary Tales”.

Tim has spoken at TED, PopTech and the Sydney Opera House. He is an associate member of Nuffield College, Oxford and an honorary fellow of the Royal Statistical Society. Tim was made an OBE for services to improving economic understanding in the New Year honours of 2019.

Customer reviews

4.4 out of 5 stars
1,564 global ratings

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Top reviews from Australia

  • Reviewed in Australia on 27 January 2020
    Format: PaperbackVerified Purchase
    Hard work at times but great book
  • Reviewed in Australia on 26 October 2016
    Format: KindleVerified Purchase
    The perfect introduction to practical economics. A look into how the world works. Harford's writing is clear, witty and leaves you wanting more.

Top reviews from other countries

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  • Stocky
    5.0 out of 5 stars A great introduction to a new way or thinking
    Reviewed in Belgium on 10 February 2025
    Format: PaperbackVerified Purchase
    This book is a great way to start thinking like an economic. As a student in a business school I found many concepts used in my classes
  • W T V IBBOTSON
    5.0 out of 5 stars Very good
    Reviewed in Germany on 14 May 2025
    Format: PaperbackVerified Purchase
    Very good read. Lots of useful info
  • Ripple
    5.0 out of 5 stars Clear and well written introduction to economic ideas that impact on the real world
    Reviewed in the United Kingdom on 28 January 2014
    Format: PaperbackVerified Purchase
    Tim Harford’s “Undercover Economist” is a clear and well argued read. You don’t need any prior economic knowledge to understand his key arguments and he explains things in clear and simple language.

    The book is along the same lines as a raft of populist social/science books - perhaps the most obvious comparison is with Steven Levitt’s “Freakonomics”. However, while the two share an easy reading quality, Freakonomics is more concerned with micro economics (and human decisions) while Harford also covers macroeconomic arguments. Of the two, I found Harford’s more interesting and insightful. It seems more concerned with explaining things than going for the shock value. That’s not to say that there are not some contentious issues - the economic view of sweatshops for example won’t thrill everyone but his arguments are well reasoned.

    There is a clear development of Harford’s approach - from the importance of scarcity right up to looking at the reasons for China’s development. The content of the chapters is cross referenced so you get a real sense of an argument building.

    The concept of Harford as an “undercover economist” is the only area that doesn’t live up to the promise. Sure there are times when he uses the idea to explain why things are as they are from an economist’s point of view - notably looking at coffee prices - but while there are times when it is a useful device, for much of the book the undercover concept is a bit spurious. It’s really more of an explanation of why the world is as it is economically.

    It’s both an enjoyable read and a very good and clear introduction to some key economic ideas that will give some useful examples to explain the key ideas.
  • Nikhil Kardale
    5.0 out of 5 stars Changes your basic view about the world, one concept at a time
    Reviewed in India on 26 October 2016
    Format: KindleVerified Purchase
    Absolutely wonderful read. Not too boring with the included examples, which are full of common sense. Makes reading about economics fun. You end up with a very different sense of the world around you once you finish reading this book.
  • Vincenzo Asaro
    5.0 out of 5 stars AMAZING BOOK
    Reviewed in Italy on 22 October 2017
    Verified Purchase
    Wether you're an economics student, or an economic graduate, this book helps you to widen your view of the economy and to take back some concepts that you maybe forgot during the years.
    Absolutely recommended.

    If English isn't your native language you can still go for it, it's pretty comprehensible.
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