---
product_id: 8193081
title: "The Undercover Economist"
price: "473 kr"
currency: NOK
in_stock: true
reviews_count: 13
url: https://www.desertcart.no/products/8193081-the-undercover-economist
store_origin: NO
region: Norway
---

# The Undercover Economist

**Price:** 473 kr
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- **What is this?** The Undercover Economist
- **How much does it cost?** 473 kr with free shipping
- **Is it available?** Yes, in stock and ready to ship
- **Where can I buy it?** [www.desertcart.no](https://www.desertcart.no/products/8193081-the-undercover-economist)

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## Description

“The economy [isn’t] a bunch of rather dull statistics with names like GDP (gross domestic product),” notes Tim Harford, columnist and regular guest on NPR’s Marketplace, “economics is about who gets what and why.” In this acclaimed and riveting book–part exposé, part user’s manual–the astute and entertaining columnist from the Financial Times demystifies the ways in which money works in the world. From why the coffee in your cup costs so much to why efficiency is not necessarily the answer to ensuring a fair society, from improving health care to curing crosstown traffic–all the dirty little secrets of dollars and cents are delightfully revealed by The Undercover Economist . “A rare specimen: a book on economics that will enthrall its readers . . . 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 such is something of an elder sibling to Steven Levitt’s wild child, the hugely successful Freakonomics.” – The Economist “A tour de force . . . If you need to be convinced of the everrelevant and fascinating nature of economics, read this insightful 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 why there’s a Starbucks on every corner [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 Electric Universe “Much wit and wisdom.” –The Houston Chronicle From Publishers Weekly Nattily packaged-the cover sports a Roy Lichtensteinesque image of an economist in Dick Tracy garb-and cleverly written, this book applies basic economic theory to such modern phenomena as Starbucks' pricing system and Microsoft's stock values. While the concepts explored are those encountered in Microeconomics 101, Harford gracefully explains abstruse ideas like pricing along the demand curve and game theory using real world examples without relying on graphs or jargon. The book addresses free market economic theory, but Harford is not a complete apologist for capitalism; he shows how companies from desertcart.com to Whole Foods to Starbucks have gouged consumers through guerrilla pricing techniques and explains the high rents in London (it has more to do with agriculture than one might think). Harford comes down soft on Chinese sweatshops, acknowledging "conditions in factories are terrible," but "sweatshops are better than the horrors that came before them, and a step on the road to something better." Perhaps, but Harford doesn't question whether communism or a capitalist-style industrial revolution are the only two choices available in modern economies. That aside, the book is unequaled in its accessibility and ability to show how free market economic forces affect readers' day-to-day. Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. From Bookmarks Magazine Harford exposes the dark underbelly of capitalism in Undercover Economist . Compared with Steven Levitt’s and Stephen J. Dubner’s popular Freakonomics (*** July/Aug 2005), the book uses simple, playful examples (written in plain English) to elucidate complex economic theories. Critics agree that the book will grip readers interested in understanding free-market forces but disagree about Harford’s approach. Some thought the author mastered the small ideas while keeping in sight the larger context of globalization; others faulted Harford for failing to criticize certain economic theories and to ground his arguments in political, organizational structures. Either way, his case studies—some entertaining, others indicative of times to come—will make you think twice about that cup of coffee. Copyright © 2004 Phillips & Nelson Media, Inc.

Review: An extraordinary primer on the basics of economics written for the general public: Tim Harford is the Carl Sagan of economics - Mr. Harford is a renowned economist and a gifted writer and communicator, who successfully achieved in this short and well written book the difficult task of explaining to the general public the complexities of key economic principles in very simple terms. However, do not be confused, this book, though equally entertaining, is no Freakonomics [Revised and Expanded]: A Rogue Economist Explores the Hidden Side of Everything . The author's 2008 book, The Logic of Life: The Rational Economics of an Irrational World , is actually more Freakonomics style. Have you heard of price elasticity and price signals, scarcity power, market failures, marginal cost, externalities, asymmetric and imperfect information, moral hazard, stock prices and random walk, and game theory? Mr. Harford manages to explain the concepts behind this jargon in simple words with everyday life examples, allowing you to understand why the production cost of the cheapest oil fields in Saudi Arabia and Kuwait is just around $2 a barrel but we ended paying $50 (or up to $140 last year); why we pay $3 for a cappuccino but coffee growers in the third world just get a few cents for each cup; the rationale behind congestion pricing (the entire Chapter 4 is devoted to this controversial policy and how it also applies for curbing pollution); the economic reasons behind the failures of the US health insurance system; and the predictability of the stock market (the current financial crises proves Harford's point, who wrote about the "rational fools" in March 2005, and within the context of the dot-com bubble). In general terms, the first seven chapters provide the reader an opportunity to grasp key concepts and principles in the field of microeconomics. The three last chapters of the book take a different approach as the book turns more into the territory of macroeconomics, exploring equally interesting and up-to-date issues regarding economic growth, international trade, competition, the theory of comparative advantage, and of course, globalization. The reader is introduced to these concepts with a chapter on Cameroon, used as a case study to explain the reasons for poor countries being poor, and highlighting the role corruption, weak institutions, and trade barriers. The last chapter in contrast, presents how China was able to achieve explosive growth rates during the last three decades, growing faster than any country in history, rising from Mao's disastrous economic experiments through the power of market and prices. Chapter 9 is a must read, as he discusses the main issues regarding globalization in a nutshell. Here Mr. Harford courageously debunks several myths regarding the alleged negative environmental impacts and other associated evils of globalization. Not surprisingly he wisely chose the examples of Cameroon and China to support his point of view. This book comes very handy for the layman especially during these days of global economic crisis. I have a background on economics, and I do highly recommend it for anyone planning or having second thoughts about studying economics, the book will provide you with quite a general picture of what economics is really about. I also recommend it for those citizens interested in understanding a bit more about key economic principles, its everyday application, and who do not want to be easily fooled by politicians, interest groups, the media, nor even by many of the so-called "experts" and "gurus". The world would be a better place if every voter in the planet could grasp the basic concepts presented in this book.
Review: Become an economist (almost) instantly! - This was a great introduction to the field of economics. He starts off talking about coffee shops and why they are at the top of every major subway escalator in every major city. Why not 2, or 3 shops? Why even 1? Why not a car dealership? He uses this to explain some key principles that then are used throughout the book. I now see things in a different way. Lessons from this book almost inform me daily. For example, I live in a suburb about 30 miles south of Washington DC. Driving down the road and passing a taxi, my wife pondered if a taxi driver in a dispersed county makes more or less than a DC cab driver. After reading this book, I felt fairly confident telling her that they most probably made the same amount of money. Why? Well, you have to read the book. He also gives a compelling argument for free markets and free trade. I don't believe he championed a specific political view (I lean left) but it made issues like trade with China make more sense. It is VERY dense. I suspect the alternative is a book twice the size with more fluff but it really makes your brain hurt from time to time. But what he says is always interesting. Anyway, I would highly recommend this book if you want to better understand what motivates people and how the world works.

## Technical Specifications

| Specification | Value |
|---------------|-------|
| Best Sellers Rank | #32,786 in Books ( See Top 100 in Books ) #34 in International Economics (Books) #73 in Economic History (Books) #458 in Behavioral Sciences (Books) |
| Customer Reviews | 4.4 out of 5 stars 1,817 Reviews |

## Images

![The Undercover Economist - Image 1](https://m.media-amazon.com/images/I/61ly5Q232lL.jpg)

## Available Options

This product comes in different **Media Language, Media Format** options.

## Customer Reviews

### ⭐⭐⭐⭐⭐ An extraordinary primer on the basics of economics written for the general public: Tim Harford is the Carl Sagan of economics
*by E***2 on April 13, 2009*

Mr. Harford is a renowned economist and a gifted writer and communicator, who successfully achieved in this short and well written book the difficult task of explaining to the general public the complexities of key economic principles in very simple terms. However, do not be confused, this book, though equally entertaining, is no Freakonomics [Revised and Expanded]: A Rogue Economist Explores the Hidden Side of Everything . The author's 2008 book, The Logic of Life: The Rational Economics of an Irrational World , is actually more Freakonomics style. Have you heard of price elasticity and price signals, scarcity power, market failures, marginal cost, externalities, asymmetric and imperfect information, moral hazard, stock prices and random walk, and game theory? Mr. Harford manages to explain the concepts behind this jargon in simple words with everyday life examples, allowing you to understand why the production cost of the cheapest oil fields in Saudi Arabia and Kuwait is just around $2 a barrel but we ended paying $50 (or up to $140 last year); why we pay $3 for a cappuccino but coffee growers in the third world just get a few cents for each cup; the rationale behind congestion pricing (the entire Chapter 4 is devoted to this controversial policy and how it also applies for curbing pollution); the economic reasons behind the failures of the US health insurance system; and the predictability of the stock market (the current financial crises proves Harford's point, who wrote about the "rational fools" in March 2005, and within the context of the dot-com bubble). In general terms, the first seven chapters provide the reader an opportunity to grasp key concepts and principles in the field of microeconomics. The three last chapters of the book take a different approach as the book turns more into the territory of macroeconomics, exploring equally interesting and up-to-date issues regarding economic growth, international trade, competition, the theory of comparative advantage, and of course, globalization. The reader is introduced to these concepts with a chapter on Cameroon, used as a case study to explain the reasons for poor countries being poor, and highlighting the role corruption, weak institutions, and trade barriers. The last chapter in contrast, presents how China was able to achieve explosive growth rates during the last three decades, growing faster than any country in history, rising from Mao's disastrous economic experiments through the power of market and prices. Chapter 9 is a must read, as he discusses the main issues regarding globalization in a nutshell. Here Mr. Harford courageously debunks several myths regarding the alleged negative environmental impacts and other associated evils of globalization. Not surprisingly he wisely chose the examples of Cameroon and China to support his point of view. This book comes very handy for the layman especially during these days of global economic crisis. I have a background on economics, and I do highly recommend it for anyone planning or having second thoughts about studying economics, the book will provide you with quite a general picture of what economics is really about. I also recommend it for those citizens interested in understanding a bit more about key economic principles, its everyday application, and who do not want to be easily fooled by politicians, interest groups, the media, nor even by many of the so-called "experts" and "gurus". The world would be a better place if every voter in the planet could grasp the basic concepts presented in this book.

### ⭐⭐⭐⭐ Become an economist (almost) instantly!
*by M***N on April 29, 2009*

This was a great introduction to the field of economics. He starts off talking about coffee shops and why they are at the top of every major subway escalator in every major city. Why not 2, or 3 shops? Why even 1? Why not a car dealership? He uses this to explain some key principles that then are used throughout the book. I now see things in a different way. Lessons from this book almost inform me daily. For example, I live in a suburb about 30 miles south of Washington DC. Driving down the road and passing a taxi, my wife pondered if a taxi driver in a dispersed county makes more or less than a DC cab driver. After reading this book, I felt fairly confident telling her that they most probably made the same amount of money. Why? Well, you have to read the book. He also gives a compelling argument for free markets and free trade. I don't believe he championed a specific political view (I lean left) but it made issues like trade with China make more sense. It is VERY dense. I suspect the alternative is a book twice the size with more fluff but it really makes your brain hurt from time to time. But what he says is always interesting. Anyway, I would highly recommend this book if you want to better understand what motivates people and how the world works.

### ⭐⭐⭐⭐⭐ CD verson was very insightful and great fun!
*by A***O on June 6, 2007*

First I will point out that I never had a course in econ, so that may be part of the reason I found this work to be so wonderful. In the CD version Robert Ian MacKenzie reads the book so that you think some devilish man is taking great delight in revealing to you the wicked ways of how the world works. Trickery and trust issues are a big part of this. The author, through MacKenzie, points out that the difference in a few cents worth of ingredients differentiates a product sold for about one dollar from one, more special, sold for three dollars. I do agree with another reviewer that the used car argument made by the author is not that tight. But an important concept is being advanced nonetheless. One of the many good takeaways for me is the economists' notion of truth, wherein the truth is determined by what people do and not what they say. What is important to people is shown by what they freely choose when they have the chance, and may have little to do with what they want their government to do or provide for them. It clearly is pro-capitalist, and well defends that view. E.g., while not being in favor of harsh conditions, it notes that sweatshops are not the problem but rather a symptom of worse alternatives the workers in a sweatshop have available to them. Sweatshops didn't cause terrible poverty, but even sweatshops make the lives of workers better. Overall I found this to be great fun to listen to. Intellectually, it is a powerful source of information and ideas to anyone who is not familiar with economics (I can't speak for those who are).

## Frequently Bought Together

- The Undercover Economist
- The Armchair Economist: Economics and Everyday Life
- Freakonomics Revised and Expanded Edition

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*Last updated: 2026-09-17*