Summary
THE UNDERCOVER ECONOMIST is a fresh explanation of the fundamental principles of the modern economy.
Hmmm
For a while now I have had the uncomfortable knowledge that I don’t understand economics. I’ve had some questions about globalisation, about whether our worlds economics is an open or closed system, about whether or not we can all improve our standard of living indefinitely, about rich countries, and poor countries. I’ve had questions about fair trade, and buying local vs super markets, and about banks and economies based on interest and debt. I’ve had more questions about small vs big, about specialising, about whether or not free markets is a great goal for us to have, or whether we need to have more control imposed from external sources like government or institutions like the world bank.
Well… this book doesn’t answer all these questions.
but it is does make a great start in laying a good foundation of economic thinking.
It’s written well (think Malcolm Gladwell) with loads of stories that make it a very enjoyable read. Tim starts out describing how important the role of economics is in our society. He then painting a picture of what he calls “the world of truth” which is free trade at it’s freest and most honest. After laying some groundwork Tim tackles some major world issues with the broad sword of “economics” - obviously simplified, but very eye opening.
The book has helped me think bigger and more interconnectedly. A fun helpful first step in my learning of economics.
