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The Undercover Economist, by Tim Harford
Download The Undercover Economist, by Tim Harford
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Author Q&A with Tim Harford So are you an economic missionary, or is this just something that you love to do? It began as something that I love to do--and I think I am now starting to get a sense of it being a mission. People can use economics and they can use statistics and numbers to get at the truth and there is a real appetite for doing so. This is such a BBC thing to say--there’s almost a public service mission to be fulfilled in educating people about economics. When I wrote The Undercover Economist, it was all about my pure enthusiasm for the subject; the book is full of stuff I wanted to say and that is always the thing with the books: they are always such fun to write. Do you think that people these days are generally more economically literate? People are now aware of economics for various reasons. There are the problems with the economy--there is always more interest in economics when it is all going wrong. Where is the border line in your new book between economics and sociology? I don’t draw a border line, and particularly not with the new book. The Undercover Economist was basically all the cool economics I could think of and The Logic of Life was me investigating a particular part of economics. All of the references in The Logic of Life were academic economics papers that I had related--and hopefully made more fun. This new book, Adapt, is very different. I have started by asking what is wrong with the world, what needs fixing, how does it work--and if economics can tell us something about that (which it can) then I have used it. And if economics is not the tool that you need--if you need to turn to sociology or engineering or biology or psychology--I have, in fact, turned to all of them in this book. If that’s what you need, then that’s where I have gone. So I have written this book in a different way: I started with a problem and tried to figure out how to solve it. What specific subjects do you tackle? To be a bit more specific, the book is about how difficult problems get solved and I look at quick change; the banking crisis; poverty; innovation, as I think there is an innovation slow-down; and the war in Iraq. Also, I look at both problems in business and in everyday life. Those are the big problems that I look at--and my conclusion is that these sorts of problems only ever get solved by trial and error, so when they are being solved, they are being solved through experimentation, which is often a bottom-up process. When they are not being solved it is because we are not willing to experiment, or to use trial and error. Do you think companies will change to be much more experimental, with more decisions placed in the hands of employees? I don’t think that is necessarily a trend, and the reason is that the market itself is highly experimental, so if your company isn’t experimental it may just happen to have a really great, successful idea--and that’s fine; if it doesn’t, it will go bankrupt. But that said, it is very interesting to look at the range of companies who have got very into experimentation--they range from the key-cutting chain Timpson’s to Google; you can’t get more different than those two firms, but actually the language is very similar; the recruitment policies are similar; the way the employees get paid is similar. The “strap line” of the book is that “Success always starts with failure.” You are a successful author… so what was the failure that set you up for success? I was working on a book before The Undercover Economist… it was going to be a sort of Adrian Mole/Bridget Jones’ Diary-styled fictional comedy, in which the hero was this economist and through the hilarious things that happened to him, all these economic principles would be explained--which is a great idea--but the trouble is that I am not actually funny. My first job was as a management consultant… and I was a terrible management consultant. I crashed out after a few months. Much better that, than to stick with the job for two or three years-- a lot of people say you have got to do that to “show your commitment.” Taking the job was a mistake--why would I need to show my commitment to a mistake? Better to realise you made a mistake, stop and do something else, which I did. That idea that “failure breeds success” is central to most entrepreneurs. Do you think we need more of it in the UK? I think that the real problem is not failure rates in business; the problem is failure rates in politics. We have had much higher failure rates in politics. What actually happens is politicians--and this is true of all political parties--have got some project and they’ll say, “Right, we are going to do this thing,” and it is quite likely that idea is a bad idea--because most ideas fail; the world is complicated and while I don’t have the numbers for this, most ideas are, as it turns out, not good ideas. But they never correct the data, or whatever it is they need to measure, to find out where their idea is failing. So they have this bad idea, roll this bad idea out and the bad idea sticks, costs the country hundreds, millions, or billions of pounds, and then the bad idea is finally reversed by the next party on purely ideological grounds and you never find out whether it really worked or not. So we have this very, very low willingness to collect the data that would be necessary to demonstrate failure, which is the bit we actually need. To give a brief example: Ken Livingstone, as Mayor of London, came along and introduced these long, bendy buses. Boris Johnson came along and said, “If you elect me, I am going to get rid of those big bendy buses and replace them with double-decker buses.” He was elected and he did it, so… which one of them is right? I don’t know. I mean, isn’t that crazy? I know democracy is a wonderful thing and we voted for Ken Livingstone and we voted for Boris Johnson, but it would be nice to actually have the data on passenger injury rates, how quickly people can get on and off these buses, whether disabled people are using these buses… the sort of basic evidence you would want to collect. Based on that, are you a supporter of David Cameron’s “Big Society”, which in a sense favours local experimentation over central government planning? Well, I have some sympathy for the idea of local experimentation, but what worries me is that we have to have some mechanism that is going to tell you what is working and what is not--and there is no proposal for that. Cameron’s Tories seem to have the view that ‘if it is local then it will work.’ In my book, I have all kinds of interesting case studies of situations where localism really would have worked incredibly well, as in, say, the US Army in Iraq. But I have also got examples of where localism did not work well at all--such as a corruption-fighting drive in Indonesia. Is the new book, Adapt, your movement away from economic rationalist to management guru? Are you going to cast your eye over bigger problems? The two changes in Adapt are that I have tried to start with the problem, rather than saying, “I have got a hammer--I’m going to look for a nail.” I started with a nail and said, “Ok, look, I need to get this hammered in.” So I have started with the problem and then looked anywhere for solutions. And the second thing is that I have tried to do is write with more of a narrative. This is not a Malcolm Gladwell book, but I really admire the way that people like Gladwell get quite complex ideas across because they get you interested in the story; that is something that I have tried to do more of here. I am not too worried about it, because I know that I am never going to turn into Malcolm Gladwell--I am always going to be Tim Harford--but it doesn’t hurt to nudge in a certain direction. On Amazon, we recommend new book ideas to people: “If you like Tim Harford you may like…”, but what does Tim Harford also like? I read a lot of books, mostly non-fiction and in two categories: people who I think write a lot better than I do, and people who think about economics more deeply than I do. In the first category I am reading people like Michael Lewis, Kathryn Schulz (I loved her first book, Being Wrong), Malcolm Gladwell and Alain de Botton. In the second category, I read lots of technical economics books, but I enjoy Steven Landsburg, Edward Glaeser (who has a book out now which looks good), Bill Easterly… I don’t necessarily agree with all of these people! When I am not reading non-fiction, I am reading comic books or 1980s fantasy authors like Jack Vance. Click here to read a longer version of this interview.
Pressestimmen
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"" 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""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"
Alle Produktbeschreibungen
Produktinformation
Taschenbuch: 384 Seiten
Verlag: Abacus; Auflage: Revised ed. (3. Mai 2007)
Sprache: Englisch
ISBN-10: 0349119856
ISBN-13: 978-0349119854
Größe und/oder Gewicht:
12,5 x 2,4 x 19,6 cm
Durchschnittliche Kundenbewertung:
4.3 von 5 Sternen
16 Kundenrezensionen
Amazon Bestseller-Rang:
Nr. 8.616 in Fremdsprachige Bücher (Siehe Top 100 in Fremdsprachige Bücher)
Full of examples, very clear explanations
this is a great book with the lessons of economy in really simple language. You do not need any degree to understand this great book.
Mixture of common sense and clearly explained economics - and still entertaining! Would recommend to anyone - uses good examples to illustrate the theories.
As someone who has attended his economics 101 lectures, this book didn't really tell me anything I didn't know.What it does manage to do, however, is to do it in a manner that even economically disinterested people should be able to comprehend quickly and easily, should they so choose.Harford does oversimplify a bit too much at places, but that's alright - if you want to get some REALLY basic points across to people this book might give you the ammunition to do so with well-developed and clearly structured examples.His analogy of the market as truth-finding mechanism is especially useful:1a. You want to know how much it would cost to solve a problem.1b. You want to know how much people would be willing to pay for the solution.2. People WILL lie. Companies will claim ridiculous costs and consumers will claim total disinterest in the product.3. The best (and often only) way to find out how much things really costs and is worth to people is by forcing them to put their money where their mouth is - via markets.Harford is a newspaper columnist and that shows in his style: He is a far smoother read than most economists and has a knack for explaining things concisely and with vivid imagery.A buy for economy laypeople who want to gain a better understanding of market basics. Interesting for seasoned economists who'd like to better communicate their ideas to laypeople.
Ich hatte das Buch gekauft, um unterhaltsame neue Einblicke und die Zusammenhänge des täglichen Lebens zu bekommen. Analog zu Freakonomics. Dieser Wunsch wurde nur geringfügig erfüllt.Tatsächlich ließe sich das Inhaltsverzeichnis auch umformulieren zu Überschriften wie: perfekte Märkte, Macht der Einkäufer, Steuern, Monopole, Externe Effekte usw.Viele wesentlichen Elemente dessen, was man in der Mikroökonomie im Grundstudium lernt, werden in diesem Buch in Prosa gepackt, zu netten Geschichten gestrickt und mit guten Beispielen geschmückt.Ein freundliches leicht lesbares Buch. Es nimmt einen Teil der trockenen Theorie der VWL und ersetzt sie durch mehr Lebensnähe. So fehlen die Formen und erklärenden Graphen, dafür sind alle Elemente sehr anfassbar. Wer hat nicht schon einmal drüber nachgedacht, warum der Kaffee hier 1€ kostet und auf der anderen Straßenseite 1,80€?Trotz einer gewissen Enttäuschung 5 Sterne, weil er seine Punkte wirklich sehr anschaulich transportiert.
actually I read this book in Korean and decided to buy the English one for my boyfriend. it was very easy to understand basic things of pricing and some economical phenomena around the world, etc. It's not an super expert thick book about economics, which makes this book easily read and carried around.
Im Buch werden Beispiele aus dem Alltag geben um die Ökonomie zu beschreiben. Lustig zu lesen. Auch das Englisch ist gut zu verstehen.
People who never have heard anything about economics might get some useful information for their everday-life, but the topics of the "Undercover Economist" are not very convincing and sometimes the author's argumentation is not clear. Of course, cappuchino, traffic and department-stores are realistic examples, but there are so many authors who have shown theories of economics on the basis of those illustrations and you have to consider that most of them did a better job.Tim Harford explains basic economic models in a entertaining way but sometimes his explanations are very detailed and sometimes, when he mentions complicated facts, his argumentation is not very clear for persons who read something about economics for the first time.And you have to beware of taking all the given information too serious. The "basic-knowledge" is described very good but some of the author's interpretations are highly questionable.Nevertheless you should read the book because it enthuses a person with economics, even if you don't know anything about this issue. If you combine the lecture of this book with a reference book, you will have the best possibilities to understand economic processes better.
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