The Undercover Economis《卧底经济学》

“The economy [isn’t] a bunch of rather dullstatistics with names like GDP (gross domestic product),” notes TimHarford, columnist and regular guest on NPR’s Marketplace,“economics is about who gets what and why.” In this acclaimed andriveting book–part exposé, part user’s manual–the astute andentertaining columnist from the Financial Times demystifies theways in which money works in the world. From why the coffee in yourcup costs so much to why efficiency is not necessarily the answerto ensuring a fair society, from improving health care to curingcrosstown traffic–all the dirty little secrets of dollars and centsare delightfully revealed by The Undercover Economist.　　“A rare specimen: a book on economics that will enthrall itsreaders . . . It brings the power of economics to life.”　　–Steven D. Levitt, coauthor of Freakonomics　　“A playful guide to the economics of everyday life, and as suchis something of an elder sibling to Steven Levitt’s wild child, thehugely successful Freakonomics.”　　–The Economist　　“A tour de force . . . If you need to be convinced of theeverrelevant and fascinating nature of economics, read thisinsightful and witty book.”　　–Jagdish Bhagwati, author of In Defense of Globalization　　“This is a book to savor.”　　–The New York Times　　“Harford writes like a dream. From his book I found out whythere’s a Starbucks on every corner [and] how not to get duped inan auction. Reading The Undercover Economist is like spending anordinary day wearing X-ray goggles.”　　–David Bodanis, author of Electric Universe　　“Much wit and wisdom.”　　–The Houston Chronicle　　From Publishers Weekly　　Nattily packaged-the cover sports a Roy Lichtensteinesque imageof an economist in Dick Tracy garb-and cleverly written, this bookapplies basic economic theory to such modern phenomena asStarbucks' pricing system and Microsoft's stock values. While theconcepts explored are those encountered in Microeconomics 101,Harford gracefully explains abstruse ideas like pricing along thedemand curve and game theory using real world examples withoutrelying on graphs or jargon. The book addresses free marketeconomic theory, but Harford is not a complete apologist forcapitalism; he shows how companies from Amazon.com to Whole Foodsto Starbucks have gouged consumers through guerrilla pricingtechniques and explains the high rents in London (it has more to dowith agriculture than one might think). Harford comes down soft onChinese sweatshops, acknowledging "conditions in factories areterrible," but "sweatshops are better than the horrors that camebefore them, and a step on the road to something better." Perhaps,but Harford doesn't question whether communism or acapitalist-style industrial revolution are the only two choicesavailable in modern economies. That aside, the book is unequaled inits accessibility and ability to show how free market economicforces affect readers' day-to-day.　　Copyright © Reed Business Information, a division of ReedElsevier Inc. All rights reserved.　　From Bookmarks Magazine　　Harford exposes the dark underbelly of capitalism in UndercoverEconomist. Compared with Steven Levitt’s and Stephen J. Dubner’spopular Freakonomics (*** July/Aug 2005), the book uses simple,playful examples (written in plain English) to elucidate complexeconomic theories. Critics agree that the book will grip readersinterested in understanding free-market forces but disagree aboutHarford’s approach. Some thought the author mastered the smallideas while keeping in sight the larger context of globalization;others faulted Harford for failing to criticize certain economictheories and to ground his arguments in political, organizationalstructures. Either way, his case studies—some entertaining, othersindicative of times to come—will make you think twice about thatcup of coffee.　　Copyright © 2004 Phillips & Nelson Media, Inc.