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The Undercover Economist
''The Undercover Economist'' () () is a book by Tim Harford published in 2005 by Little, Brown. The book provides an introduction to principles of economics, including demand-supply interactions, market failures, externalities, globalisation, international trade and comparative advantage. It explains in non-technical terms how Starbucks and other coffee providers price their products, why it is hard to buy a decent used car, why the health insurance system in the United States is failing, and why poor countries remain poor while the People's Republic of China has continuously grown rich in the last couple of decades. ''Freakonomics'' author Steven Levitt called it "a rare specimen: a book on economics that will enthrall...Beautifully written and argued, it brings the power of economics to life." See also * ''The Logic of Life ''The Logic of Life: The Rational Economics of an Irrational World'' is a book by Tim Harford published in 2008 by Random House. Harford argues th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tim Harford
Timothy Douglas Harford (born 27 September 1973) is an English economic journalist who lives in Oxford. Harford is the author of four economics books and writes his long-running ''Financial Times'' column, "The Undercover Economist", syndicated in ''Slate'' magazine, which explores the economic ideas behind everyday experiences. His column in the ''Financial Times'', "Since You Asked", ran between 2011 and 2014 and offered a sceptical look at the news of the week. Since October 2007 Harford has presented the BBC Radio 4 programme '' More or Less.'' The series segments are also available as podcasts. Subsequently Harford launched his own podcast on the podcast production network Pushkin Industries, called ''Cautionary Tales''. Education Harford was educated at Aylesbury Grammar School and then at Brasenose College, Oxford. He obtained a Bachelor of Arts degree in Philosophy, Politics and Economics and then a Master of Philosophy in Economics, in 1998. Harford said that he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Discrimination
Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different markets. Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Price differentiation essentially relies on the variation in the customers' willingness to payApollo, M. (2014). Dual Pricing–Two Points of View (Citizen and Non-citizen) Case of Entrance Fees in Tourist Facilities in Nepal. Procedia - Social and Behavioral Sciences, 120, 414-422. https://doi.org/10.1016/j.sbspro.2014.02.119 and in the elasticity of their demand. For price discrimination to succeed, a firm must have market power, such as a dominant market share, product uniqueness, sole pricing power, etc. All prices under price discrimination are higher than the equilibrium price in a perfectly-competitive ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Books
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational and be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Logic Of Life
''The Logic of Life: The Rational Economics of an Irrational World'' is a book by Tim Harford published in 2008 by Random House. Harford argues that rational behavior is more widespread than expected in the larger population. He uses economic principles to draw forth the rational elements of supposedly illogical behaviors to illustrate his point. Overwhelming gain paradox The overwhelming gain paradox is a paradox of reasoning that is referred to in the book. Harford illustrates the paradox by the comparison of three potential job offers: * In Job 1, you will be paid $100, and if you work hard you will be paid $200. * In Job 2, you will be paid $100, and if you work hard you will have a 1% chance of being paid $200. * In Job 3, you will be paid $100, and if you work hard you will have a 1% chance of being paid $1 billion. Most people will state that they will choose to work hard in jobs 1 and 3, but not job 2. In Job 1, working hard is obvious because there is a clear rewar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steven Levitt
Steven David Levitt (born May 29, 1967) is an American economist and co-author of the best-selling book ''Freakonomics'' and its sequels (along with Stephen J. Dubner). Levitt was the winner of the 2003 John Bates Clark Medal for his work in the field of crime, and is currently the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago as well as the Faculty Director and Co-Founder of the Center for Radical Innovation for Social Change at the University of Chicago which incubates the Data Science for Everyone coalition. He was co-editor of the ''Journal of Political Economy'' published by the University of Chicago Press until December 2007. In 2009, Levitt co-founded TGG Group, a business and philanthropy consulting company. He was chosen as one of ''Time'' magazine's "100 People Who Shape Our World" in 2006. A 2011 survey of economics professors named Levitt their fourth favorite living economist under the age of 60, after Paul Krugman, Greg M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freakonomics
''Freakonomics: A Rogue Economist Explores the Hidden Side of Everything'' is the debut non-fiction book by University of Chicago economist Steven Levitt and ''New York Times'' journalist Stephen J. Dubner. Published on April 12, 2005, by William Morrow, the book has been described as melding pop culture with economics. By late 2009, the book had sold over 4 million copies worldwide. Based on the success of the original book, Levitt and Dubner have grown the ''Freakonomics'' brand into a multi-media franchise, with a sequel book, a feature film, a regular radio segment on National Public Radio, and a weekly blog. Overview The book is a collection of articles written by Levitt, an expert who had gained a reputation for applying economic theory to diverse subjects not usually covered by "traditional" economists. In ''Freakonomics'', Levitt and Dubner argue that economics is, at root, the study of incentives. The book's chapters cover: * Chapter 1: Discovering cheating as applie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of China
The China, People's Republic of China has an upper middle income Developing country, developing Mixed economy, mixed socialist market economy that incorporates economic planning through Industrial policy, industrial policies and strategic Five-year plans of China, five-year plans. —Xu, Chenggang. "The Fundamental Institutions of China’s Reforms and Development." Journal of Economic Literature, vol. 49, no. 4, American Economic Association, 2011, pp. 1076–151, . —Nee, Victor, and Sonja Opper. "Political Capital in a Market Economy." Social Forces, vol. 88, no. 5, Oxford University Press, 2010, pp. 2105–32, . —Shue Tuck Wong & Sun Sheng Han (1998) Whither China's Market Economy? The Case of Lijin Zhen, Geographical Review, 88:1, 29-46, —Gregory C. Chow (2005) The Role of Planning in China's Market Economy, Journal of Chinese Economic and Business Studies, 3:3, 193-203, —HUA, HUANG. "The Market Economy in China." Security Dialogue, vol. 24, no. 2, Sage Publications ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underdevelopment
Underdevelopment, in the context of international development, reflects a broad condition or phenomena defined and critiqued by theorists in fields such as economics, development studies, and postcolonial studies. Used primarily to distinguish states along benchmarks concerning human development—such as macro-economic growth, health, education, and standards of living—an "underdeveloped" state is framed as the antithesis of a " developed", modern, or industrialized state. Popularized, dominant images of underdeveloped states include those that have less stable economies, less democratic political regimes, greater poverty, malnutrition, and poorer public health and education systems. Underdevelopment per Walter Rodney is primarily made of two components, a comparative aspect as well the relationship of exploitation: namely, the exploitation of one country by another. History In critical development and postcolonial studies, the concepts of "development", "developed", and "un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Health Care In The United States
The United States far outspends any other nation on health care, measured both in ''per capita'' spending and as a percentage of GDP. Despite this, the country has significantly worse healthcare outcomes when compared to peer nations. The United States is the only developed nation without a system of universal health care, with a large proportion of its population not carrying health insurance, a substantial factor in the country's excess mortality. Healthcare is provided by many distinct organizations, made up of insurance companies, healthcare providers, hospital systems, and independent providers. Health care facilities are largely owned and operated by private sector businesses. 58% of community hospitals in the United States are non-profit, 21% are government-owned, and 21% are for-profit. According to the World Health Organization (WHO), the United States spent $9,403 on health care per capita, and 17.9% on health care as percentage of its GDP in 2014. Healthcare cove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Used Car
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers, rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales. Some car retailers offer "no-haggle prices," "certified" used cars, and extended service plans or warranties. Used car industry Used car export industry Depreciation levels of vehicles differ a lot in exporting and importing countries due to differences in income levels. The price of a vehicle depreciates faster in high-income countries than in low-income countries. Used vehicles sellers in high-income countries can thus sell their used vehicles for a higher price in low-income countries. This is the incentive to export used vehicles. The major car exporting countries (which includes both new and used vehicles) are Japan, the EU, USA, and Canada. In the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Starbucks
Starbucks Corporation is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. It is the world's largest coffeehouse chain. As of November 2021, the company had 33,833 stores in 80 countries, 15,444 of which were located in the United States. Out of Starbucks' U.S.-based stores, over 8,900 are company-operated, while the remainder are licensed. The rise of the second wave of coffee culture is generally attributed to Starbucks, which introduced a wider variety of coffee experiences. Starbucks serves hot and cold drinks, whole-bean coffee, micro-ground instant coffee, espresso, caffe latte, full and loose-leaf teas, juices, Frappuccino beverages, pastries, and snacks. Some offerings are seasonal, or specific to the locality of the store. Depending on the country, most locations provide free Wi-Fi internet access. Company overview Starbucks was founded in 1971 by Jerry Baldwin, Zev Siegl, and Gordon Bowker at Seattle's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-fiction
Nonfiction, or non-fiction, is any document or media content that attempts, in good faith, to provide information (and sometimes opinions) grounded only in facts and real life, rather than in imagination. Nonfiction is often associated with being presented more objectively, like historical, scientific, or otherwise straightforward and accurate information, but sometimes, can be presented more subjectively, like sincerely held beliefs and thoughts on a real-world topic. One prominent usage of nonfiction is as one of the two fundamental divisions of narrative (storytelling)—often, specifically, prose writing—in contrast to narrative fiction, which is largely populated by imaginary characters and events, though sometimes ambiguous regarding its basis in reality. Some typical examples of nonfiction include diaries, biographies, news stories, documentary films, textbooks, travel books, recipes, and scientific journals. While specific claims in a nonfiction work may p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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