The Undercover Economist by Tim Harford

The Undercover Economist is a book by Tim Harford. It presents an explanation of fundamental principles of the modern economy, using real-world examples.

Synopsis

The book asks a series of practical questions about everyday life and global change, from who profits from early-morning cappuccino demand at Waterloo Station to why getting onto the property ladder can feel out of reach. It also considers how different kinds of organised crime make money, who benefits from immigration, and how China moved from severe famine to rapid economic transformation.

Approaching familiar situations in unfamiliar ways, it sets out to explain modern economics without relying on textbook jargon or equations. Harford describes the roles of signals and negotiations, contests of strength and battles of wit, linking the wider economy to the choices people make day to day.