Description
Senior columnist for the Financial Times, Tim Harford, brings his experience and insight 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 other industries 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 knowing it.
An economist's version of The Way Things Work, this engaging volume is part Economics 101 and part exposé of the economic principles lurking behind daily events, explaining everything from traffic jams to high coffee prices. Written with a light touch and sly wit, The Undercover Economist turns "the dismal science" into a true delight.
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