July 17, 2007

The Undercover Economist

About half way through reading "The Undercover Economist" by Tim Hardford I lost interest. The book is well written and approaches the topic of economics in a very layman friendly way. I just personally wasn't interested in reading more about economics at the time. With that said I slowly came back to the book and recently finished it. Each chapter addresses a different fundamental economic concept and builds well on the previous topics. Most importantly the book is filled with many anecdotes which help convey the underlying principle.

My favorite quote out of the book "Growing them in Iowa makes use of a special technology that turns wheat into Toyotas: simply put the wheat onto ships and send them out into the Pacific ocean. The ships come back a short while later with Toyotas on them. The technology used to turn wheat into Toyotas out in the Pacific is called 'Japan', but it could just as easily be a futuristic biofactory floating off the cost of Hawaii." [213]

Tags: books economics