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Yet by the late 1930s, the British had conceded technical and tactical superiority to Hitler's new army. China might be able to produce a TV in only half an hour, but their specialty is in manufacturing DVD players. Description: Book Summaries The best business books summarized for fast concept learing The Undercover Economist by Tim Harford Categories: Book Summaries. Some college degrees, like philosophy, that do not prepare a student with any tangible or technical skills nonetheless act as signals to employers that the holder of the degree is intelligent and hardworking. "This is the greatest thing. The supermarkets have come to the rescue with a plentiful supply of organic products that happen to be marked up far above their additional costs to the supermarket, in British market, these are often stacked together, apparently for the convenience of the organic shopper butalso tot he advantage of the supermarkets who thereby reduce the risk that organic shoppers will notice the price of the typical alternative. Wholefoods is not expensive in the sense that it charges more for the same goods, itis ecpensive becuase of where its price-targeting policies are focused: prices for the basics maybe competitive, but the selection in Wholefooods isaimed at customers with a diff view of what "basics" are. Some will notice the higher price for sale and perper flabor and, irritated, pay anyway, others will prefer the diff floabors and count themselves lucky that they have inexxpensieve tastes. The inner party shoppers come to market to buy specific products and awill be less sensitive toprice. Sure, there are some light connections throughout, but there was no unifying theme, which made each chapter very hit or miss. Create a free account to discover what your friends think of this book! قبل كتابة الريفيو فى ملاحظة بسيطة. It was used to great effect, in 1940 — by the Germans. An economist's version of The Way Things Work, this engaging volume is part field guide to economics and part expose of the economic principles lurkin…more An economist's version of The Way Things Work, this engaging volume is part field guide to economics and part expose of the economic principles lurking behind daily events, explaining everything from traffic jams to high coffee prices.

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Make better choices by seeing life through the eyes of an economist. The Undercover Economist Key Idea #3: Companies try and get you to pay more than you need to. If the diff in productivness of the 2 types of land is 5 bushels of grain a year, then the rent will also be 5 bushels a year. Super markets will often produce a store-brand 'value' range, displaying crude designs that dont vary whether the product is lemonaade, gread or baked beans.

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The trick, therefore, is not to search for a cheap store, but to shop intelligently by finding specific deals. Some complain that a natural talent like Wilt Chamberlain or Tiger Woods is "unfair" because those individuals are born with some talent that earns them many millions of dollars while others will never be as good even if they work extremely hard. I took notes during my reading of the book, and some of the chapters were brimming with my thoughts, while others had less than a paragraph. Tim Harford is an FT columnist. For example, Cameroon is one of the poorest countries in the world, whose government is run by Biya, whose sole concern is maintaining his own power and wealth. By providing options, they ensure that each customer has the opportunity to pay their maximum. If you reach retirement age with money still in your medical savings account beyond some minimym, you can put the excess toward your pension. On his 50th birthday in 1939, Hitler celebrated with a parade of Germany's newly reconstructed army through Berlin. US should produce goods and services ot by asking what it does more cheaply than China but by focusing on what US does best.

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One common situationis for 2 supermarkets to be competing for the same customers. This covers, among other things, why the gap between rich and poor nations is so great, why it's so difficult to get a foot on the property ladder, or why you can't buy a decent second-hand car. It was quite slow at the start when he was talking about Starbucks and pricing policies – but my interest picked up when he discussed two computer printers made by IBM in which the only difference between them was that a chip was added to the cheaper one to make it run more slowly. Things that are going to the 'right' people. There is an interesting discussion of game theory and a very comprehensive discussion of externalities which I found fascinating.

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Game theory as a basis of modern day frequency auctions of governments. There are ways to save your money, and it's up to you to practice good, be aware of where you buy your stuff. Or how do you know if someone else sold you a bad product? Offshore wind farms play to some oil-company strengths; they know a lot about large metal structures in the North Sea. After stumbling across a dusty copy on my Old Man's bookshelf, I thought I'd give it a gander and found it to be a pleasantly intriguing read.

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Sweatshops are not evil (because workers there earn more money than if they'd stayed on the farm, silly! ) Even Montgomery-Massingberd is too casually caricatured. "For three hours, " wrote one witness, "a completely mechanised and motorised army roared past the Führer. " In the media and lecture halls in the economics departments of universities, there are many people repeatedly praising the intelligence and fairness of the free market system, which they believe is the most effective method in ensuring that people can get what they need, at the best and most reasonable prices.

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Comparative advantage chapter is very quaint on countries focussing on what they do best instead of taking into account geopolitical considerations and wish for autarky, however true it is that imports need to be paid by exports from countries. This is another entry in the field, and I liked it as much or more than Freakonomics. Because I'm a glutton for punishment, apparently. While the performance of computers was being revolutionised by the semiconductor, the integrated circuit, the hard drive and the compiler, IBM maintained a dominant position without breaking stride. Since an architectural innovation requires an organisational overhaul, it is a task requiring skilful diplomacy. But, the market has a major problem: it can easily break down when people are dealing with limited (or concealed) information. When it comes to more substantial buying decisions it is not always so easy. Later when thre were more farmers, scrublandbecame the marginal land, and rents on meadows rose to 5 bushels a year, the diff in productivity between the meadowland andthe marginal land. Proposal 2: the gov could give everybody a voucher which allow them to drive up to 20 miles per week. Harford also talks about the problems associated with universal health care in Britain. His essays and books were dotted with spiky critiques of senior military officers. An introduction to economics for the everyman and everywoman? He baulked, and wrote to the head of the army demanding that these other duties be carried out by someone else, eventually threatening to resign.

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The evidence suggested that almost non of that money wentanywhere but Costa's bottom line. Not quite; one of the strongest reasons for poverty is simply having the wrong kind of government. Firms took advantage by making bids which contained area codes. It is because it dealt mostly with coffee, beer, poker and game theory - some of the things I'm obsessed with. Idiocy is a tempting explanation and not without merit. For most pp, medical bills are low in their younger years, so you could expect to have 30 000 usd when you turn 40. you can manage to keep spending low and watch the money earn interset.

المهم ان الكتاب للمعلومات اللى اتعلمتها منه يستحق خمسة من خمسة.. معلومات جديدة كليا بالنسبالى بداية بالاقتصاد الى يهم الفرد العادى لما يدخل اى محل عشان يبدأ السباق بينه و بين البائع اللى عايز يديك اسوأ سلعة بأعلى سعر و انتا عايز احسن سلعة بأقل سعر و غالبا بيكون البايع هو الكسبان لكسل المشترى انه يجادل معاه شوية. To prevent these social costs, the government should intervene in the market to tax the external costs. Lots of people pass by during their morning commute, and there is consequently a high demand for ATM's space. Xerox still makes photocopiers. The one-sentence summary. Even the price that you pay is tied to an entire economic system. 3/8 Book Summaries The best business books summarized for fast concept learing get away with this because people in stations often have little time to shop, and just wantto get in, grab their groceries, and get out. There is more than one kind of denial. A grown up Freakonomics for those who care more about the world around them and less about narrow topics like baby names and drug dealers. London, for example, introduced the congestion charge, that people had to pay when driving through a certain area of town. Architectural innovations can seem too much like hard work, even for those most committed to seeing them succeed. The effect was astonishing: a significant and immediate drop driving had no additional costs, people hopped in the car to go even short the introduction of the congestion charge, people started to choose walking or ever, you can't put taxes on everything.

Protectionist attitudes towards bartering, in which imports are banned in order to promote domestic trade, would eventually cripple the country's export industry, and other countries would stop exporting as well. Not quite a treatise on macroeconomics, Harford makes the subject infinitely more interesting by exploring the margins of the topic and explaining how such macroeconomic considerations drift into the world of microeconomics and affect such basics as pricing, supply, demand, production and incentives. In these cases, the national treasury cannot invest in infrastructure or develop people's lives, and cause economic harm. "But anybody who's really any good at this will tell you that this is hard. Often, an authoritarian leader's primary goal is to seek personal fortune, even at the expense of the people.

Don't make the mistake of thinking that buying from places that are on sale will save you money. ATM can charge high prices because the space they occupy, i. e., railway stations, is extremely scarce. From the price of acappuccino to the amount of smog in the air, everything is tied to economics. Why knock 30% off twice per year, whenyou could knock 5% off year-around. There was a point at the start of this book when I thought I wasn't going to make it to the end – or even past the start. They knew; but they were unable to put together the right response. The firms would obviously choose to bid on whichever licesne appeared to offer thebest balie at the time. It can be said that his power comes from corruption rather than democratic leadership.

Harford says he's going to tell you how the world really works, how economics provides insight into our activity. WHY POOR COUNTRIES ARE POOR. There's the question of whether the new idea will be profitable. The shoddy quality of most airport departure lounges is surely part of the same phenomenon. 8%, European Union 2. What had flummoxed IBM was not the pace of technological change — it had long coped with that — but the fact that its old organisational structures had ceased to be an advantage. I didn't read it that quickly, mainly because I would often stop and think about the implications of something I had just read. I put this in that category of making complicated subjects easy to understand. And he never acknowledges the difficulties involved in implementing his 'solutions'. Therefore, companies have to use a lot of "tricks".