The Independent reviews “The Undercover Economist Strikes Back”
Here’s Hamish McRae:
Our chief economic storyteller turns his talents to the big picture of recession – and recovery
Tim Harford is trying to do for macro-economics what he – and a handful of others – have sought to do for micro-economics. That is to de-mystify the subject, explaining in simple language what we know and don’t know about the way the world economy works.
The meat of the book is how to deal with recessions, the central question facing the Western world now. But there are also nice diversions into the baby-sitting co-op that workers on Capitol Hill in Washington founded, Henry Ford’s doubling of his workers’ wages in Detroit, and why cigarettes were a currency in Germany in PoW camps.
Economists will continue to attract opprobium. Indeed, by their wild assertions they bring a lot of it on themselves. But maybe, thanks to people such as Harford, the profession will gain a better-informed audience, and a more perceptive one for its real shortcomings.
The Undercover Economist Strikes Back is out on Thursday.