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What does price of Cappuccino and China new wealth have in common?
After being told I this book is better than Freakonomics I had high hopes. And I was not disappointed in the least. As the name says this book reads like a undercover detective story.
What I really like about this book, and perhaps now understanding Economics better, is that Economics is the study of what humans actually do versus what we think they are doing or what they may do. And how using complex mathematical models the non-obvious trends can be determined. I finally understand why coffee shops are so in vogue and particular why you and me would be willing to pay more for something we now make at home. Just having read the final chapter on China is almost like freaky because just yesterday I received an invitation to speak at a conference in Shanghai!
Remember to checkout the website of the author, Tim Hardford, a contributor to the Financial Times and Slate.
If you wanna buy the Undercover Economist from Amazon.com click here.