National Non-Fiction Day Book Review: The Undercover Economist (Tim Harford)

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.

The truth is, in my eyes, economics is and will always be the best field of study ever. Complex, world-changing and integral to our daily lives, it has never been and will never be obsolete or far removed from our everyday actions and decisions. It may not have occurred to everyone how important economics is and how deeply it affects each individual until the onslaught of the recent recession, but regardless of how long your interest has been, The Undercover Economist is a must-read for just about anyone who has the slightest bit of curiosity in what economics is really all about.

Tim Harford is a genius. This I found out when I attended one of his talks at the LSE a few months back. His book is no less brilliant and does not let up in its charms. The Undercover Economist is a good introduction to the study of economics - it covers the basic and immediately dives into what it really is. It erases the misconception that it only affects economists, and explains in various understandable ways. The author explains the subject in clear, easy to understand language, tailored especially for non-economics folks. That is not to say that this book is only for those who doesn't study economics. Fellow economists will also be charmed by The Undercover Economist, especially those in their early years of study and are looking towards how economics operates in our daily life.

The text in the book is conversational and is founded through examples in real life situations. Everyone will be able to relate to this because it refers to many things we do regularly - for instance, choosing free trade instead of non-free trade coffee, shopping in supermarkets and getting on the property ladder. The insights this book will give you makes you feel like an insider knowing how things operate - it is rather brilliant! It answers so many questions in a way that will pique your interest in the beauty that is economics.

And if you think this book is a boring academic text - you're wrong! It's as fun as an economics book can be - with its light hearted banters and amusing situations, not only is the author's brilliance embedded in this book, but also his fantastic sense of humour!

Clearly, I love this book, and I'm sure other readers do too. If you're vaguely interested in economics or are simply bored, why not pick up a copy of The Undercover Economist and perhaps discover an appreciation for everything economics...

Five Stars!


*This book is reviewed for The National Non-Fiction Day.

To find out more about National Non-Fiction Day, visit http://nnfd.org