Book Discussion on The Undercover Economist
Tim Harford talked about his book, The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a… read more
Tim Harford talked about his book, The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car!, published by Oxford University Press. Using examples from his travels in Africa, Europe and Asia, Mr. Harford argued in his book that the impact supermarkets, coffee chains, and mega-corporations have on the average consumer is helping to increase the gap between the poor and upper classes. The book also touches on the economic concepts of scarce resources, market power, efficiency, price gouging, and game theory to explain the economic impact of day-to-day events like grocery shopping.
Using such props as a Starbucks coffee cup and a package of paper towels, Mr. Hartford talked about which economic ideas are the most powerful, and which are the most frequently misunderstood. He considered how economists could communicate more effectively with policymakers and with the public. Robert Hahn and Tyler Cowen joined him in a panel discussion. The panelists responded to questions and comments from members of the audience. Mr. Harford moderated the event. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
People in this video
- Tyler Cowen Professor George Mason University->Political Economy
- Robert W. Hahn Director American Enterprise Inst.-Brookings Jt.Ctr.for Regulatory Studies
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