Thursday, March 31, 2011

The Undercover Economist - Tim Harford

I began reading this book while traveling on my Business Development activities as part of my first start up - that was more than a year and half ago. I was only able to complete this book today through random bursts reading while on travel. I generally love reading books while traveling and not sitting at a place - this book was just perfect – Reading and relating to the surrounding I see is a very useful way of learning economics.

When I was first suggested this book by my friend who had completed reading the book - I wasn’t very clear as to why “This” book on economics. Undercover Economist is just awesome! - for anyone with little economic sense like me this book is an eye-opener. The reviews on the hind cover are very true; as David Bodanis says - "is like spending an ordinary day wearing X-ray goggles"; this book really gives you valuable insights and gets one understanding the reasons behind the way things work.

Beginning from a simple example highlighting the scarcity power and its relation to the coffee one could purchase, Tim moves on to highlight not just the daily activities and phenomena through economics but also deals with the externalities, taxation, globalization and finally ends with a very neat insight into the way China has risen to an economic super power of today. Free from details that could be got elsewhere from if one needs this gives a very useful reference frame for activities in our society.

This book is worth being in the library of everyone who is interested in gaining an insight on the daily functioning of an organization with the best of economics being clarified in it. It’s definitely a "Must Read" for everyone.