The Undercover Economist Strikes Back: How to Run--or Ruin--an Economy

Now, I enjoyed the unconventional format and premise of this book. I've read many books on "the dismal science" and they do tend to be rather dry and difficult to get through - even for someone who enjoys the subject.

Hartford does make economics accessible for those who are not "into" it. So, I highly recommend it to such people. It's funny in places and has this tone of two people chatting casually, but it packs a punch.

This is not a book like the many that came out after the Financial Crisis where authors were trying to place blame on various groups or individuals. Hartford simply tries to explain why things happened as they did.

If I'd had an Econ professor like Hartford, I might yet have made a career in the field. He kind of reminds show more me of Dan Ariely, who has been making behavioral economics more accessible to the layperson.

Before reading this book, I did not know much at all about Hartford. But, having read it, I have sought out more articles and his Radio 4 program, 'More or Less'.

Yes, definitely recommend this book. One of my reading highlights already this year. show less

I requested this book because economics truly befuddles me - I have like a mental block that no amount of explaining can overcome - and I am ashamed of being so ignorant of such a foundational and relevant subject. The book is written as a dialogue between the imagined reader and Harford and employs the conceit that the reader is running a country's economy with Harford's advice. At first I disliked this because I couldn't really skim uninteresting sections, but soon the subject matter becomes interesting - and amusing - enough that one doesn't really want to skip parts. Harford employs simple scenarios and anecdotes to explain key concepts in macroeconomics, including the different types of recessions, the debate between Keynsians and show more classicalists about the fundamental nature of economies, and why deflation is - in his estimation - worse than inflation. I still couldn't explain any of this to another person, but I do feel like I learned quite a lot and enjoyed Harford's breezy, cheeky style. Also, when have you ever read the word "wedgie" in an economics book? Harford also apparently has some great podcasts that I may check out. show less

I came to be a fan of Tim Harford through his podcasts, "More or Less: Behind the Stats" and "Pop Up Ideas". I was eager to read this book, because I am a big fan of the way the podcasts explore ideas and make sense of numbers in the news, and I've recently developed an amateur interest in economics. I was not disappointed.

One word of advice to the reader: throughout the book, Harford explicitly uses the conceit that he is speaking directly to you (who have been chosen to run a world economy) and that you are answering him. I found that jarring, but it was easy to put aside by imagining that instead of participating in a conversation, I was merely observing one.

The book explores macroeconomic ideas in an engaging way, and the dialog show more style allows the author to take the occasional left turn away from the topic at hand into an interesting cul-de-sac before jumping back on track. Most of the material is readily accessible if you have an interest in current events (no economic theory needed), though the discussion of the Beveridge curve could really have done with at least one diagram.

The entire discussion is bookended with by elements of the story of Bill Phillips, a tinkerer, war hero, hydraulics engineer, and eventually an influential economist who created a very cool machine—the MONIAC, or Monetary National Income Analogue Computer—that solved economic differential equations with water. His story is a highlight of the book, and is told largely in the first chapter.

Overall, this is a very accessible and non-technical introduction to macroeconomics, which is a especially nice since much of the material I've come across recently online, in podcasts, and in books has been on microeconomics or behavioral economics.

Note: I received an uncorrected proof copy of this book through a LibraryThing giveaway. show less

It's the most enjoyable book on macro econ I've ever read. I know, that's not very convincing.

It's the ONLY enjoyable book on macro econ I've ever read.

He tells it in a conversational style that works really well for me, starts two chapters with Douglas Adams quotes, and addresses current issues without feeling like it's going to feel horribly dated in 10 years.

If you have any interest in what the government can do to influence the economy, I recommend this as a place to start.

Using a question and answer dialog, Tim Harford succeeds in creating a captivating and easily understandable read in an otherwise dry and formidable science. “The Undercover Economist Strikes Back” is saturated with relevant history, fascinating stories, interesting quotes, and commonsense explanations, which all involve the reader in this journey through macroeconomics. This is the book for everyone who desires to understand the complexities of the economic world, and learn when 'supply side economics', or 'stimulus', or 'wealth distribution', or 'taxation', or 'zero inflation', or 'balanced budget', techniques may or may not work. The book works well for the level of intended audience.

12/31/13

In this entertaining book, Tim Harford sets out to educate his readers on the principal points of macroeconomics. The chatty and cheerful tone helps the economic medicine go down easily. Harford steers a careful course between classical economists and their Keynesian colleagues, although to this reader he appears to favor Keynes’s followers.

Not a replacement for a standard macroeconomic text, the book should nevertheless be required reading for politicians, bloggers, and all those who hold forth with great conviction about the economy. If politicians could be made to understand the nuances of macroeconomics, perhaps we could claw our way out of our difficulties.

One significant lapse in the book is that the author does not describe show more the role of banking in the economy. Without understanding this vital link, the reader is not really equipped to understand the 2008 crisis or the response to it by policymakers. If this book has a second edition, perhaps Mr. Harford will rectify this omission. show less

This is an excellent, breezy book about a subject that is boring as heck to most people - macroeconomics. In the form an extended Q&A session, the author introduces macroeconomics to the layperson, in the process answering common questions that have probably occurred to almost anyone who watches the news - why can't we just print more money to pay the debt, or why can't the government solve unemployment by just paying people to do makework?The author's prose style is relaxed and fun, and he manages to make this important topic both interesting and relevant to the average reader.