Popular Economics - Mini Book Reviews Part II: The Undercover Economist
In The Undercover Economist, Tim Harford offers pellucid discussions of many important concepts. The style is lively and engaging, but he does not shy away from tackling some of the big problems facing society (and its economists), and I saw little evidence of an ideological ax to grind. That is, while he might be a bit (or a lot) more taken with the power of markets as a force for good than your average leftist, this is to be expected from most modern economists, and he also takes an honest, thoughtful look at the places where markets break down.
In a chapter ("Crosstown Traffic") dealing with externalities, when he snarkily tells an earnest young environmentalist (could easily have been someone like me, once upon a time) that he traveled to the meeting by anthracite-powered steamship from Australia, I'm sure I chuckled aloud. Admittedly, it was a snotty way to make a point, but a point well worth making: moral posturing has very little to do with actually solving problems. And although the case has been made many times, by many eloquent spokespersons, that economic development and environmental progress are not contradictory but complementary, we can always use another voice making the case intelligently. Because, unfortunately, too many partisans of the left and the right still haven't gotten the message--or won't acknowledge it, for political purposes.
I would heartily recommend this book as an introduction to economics. While it actually deals with a wide-ranging array of topics including environmental issues, income inequality, trade, and macroeconomic growth, Harford manages to make even the mundane microeconomic discussions (he opens with purchasing a cup of coffee) lively and engaging, as opposed to the deathly dry nature of most economics textbooks I have picked up. It's probably as good as you can get without getting significantly into the math. (Math is good! I'm all in favor of it, but perhaps the average reader, even an intelligent one, doesn't pick up a book expecting to manipulate variables for entertainment...)
In a chapter ("Crosstown Traffic") dealing with externalities, when he snarkily tells an earnest young environmentalist (could easily have been someone like me, once upon a time) that he traveled to the meeting by anthracite-powered steamship from Australia, I'm sure I chuckled aloud. Admittedly, it was a snotty way to make a point, but a point well worth making: moral posturing has very little to do with actually solving problems. And although the case has been made many times, by many eloquent spokespersons, that economic development and environmental progress are not contradictory but complementary, we can always use another voice making the case intelligently. Because, unfortunately, too many partisans of the left and the right still haven't gotten the message--or won't acknowledge it, for political purposes.
I would heartily recommend this book as an introduction to economics. While it actually deals with a wide-ranging array of topics including environmental issues, income inequality, trade, and macroeconomic growth, Harford manages to make even the mundane microeconomic discussions (he opens with purchasing a cup of coffee) lively and engaging, as opposed to the deathly dry nature of most economics textbooks I have picked up. It's probably as good as you can get without getting significantly into the math. (Math is good! I'm all in favor of it, but perhaps the average reader, even an intelligent one, doesn't pick up a book expecting to manipulate variables for entertainment...)
posted by wRONgainey at 12:40 PM
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