The Logic Of Life.

Tim Harford

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THE UNDERCOVER ECONOMIST showed how ordinary economics explained everyday curiosities, such as the price of a cup of coffee and the traffic jam on the way to the supermarket. THE LOGIC OF LIFE shows how the new economics of rational choice theory explains much, much more. 

Drug addicts and teenage muggers can be rational. Suburban sprawl and inner city decay are rational. Endless meetings at the office and the injustices of working life? Rational. Economics explains why your boss is overpaid, whether we should build more prisons, and whether a city like New Orleans can recover from disaster.

THE LOGIC OF LIFE introduces you to engaging stories and characters linked together in a bold narrative sweep. The book starts with the most intimate decisions - to have sex, to take drugs, to lead an honest life - then zooms out to discuss the logic of the family, of neighbourhoods, large corporations, cities themselves. This is the new economics of everything you never thought was economics, and it will help you see the world in a new way.

What will you learn from this book

  1. Rational Decision-Making: The book may emphasize the idea that individuals often make decisions based on rational choices, even if those choices may seem irrational to others.

  2. Incentives and Behavior: Harford might discuss how incentives influence human behavior, shaping choices and actions in various aspects of life.

  3. Economic Analysis of Everyday Life: The application of economic principles to everyday situations could be a central theme. The book may provide insights into how economic thinking can illuminate aspects of our daily lives.

  4. Trade-Offs and Opportunity Costs: The concept of trade-offs and opportunity costs may be explored. Harford could discuss how individuals weigh the costs and benefits of different choices.

  5. Behavioral Economics: The book might touch on behavioral economics, exploring how psychological factors and biases play a role in economic decision-making.

  6. Market Forces and Social Dynamics: Harford may discuss how market forces and social dynamics influence individual and collective choices, affecting various aspects of society.

  7. Competition and Cooperation: The interplay between competition and cooperation in economic and social contexts might be explored. Harford could discuss how individuals navigate these dynamics.

  8. Income Inequality: The book may address the issue of income inequality and its implications, exploring the economic factors contributing to disparities in wealth.

  9. Entrepreneurship and Innovation: Harford might discuss the role of entrepreneurship and innovation in driving economic growth and shaping the world.

  10. Policy Implications: The book could provide insights into the policy implications of various economic phenomena, discussing how policymakers can use economic principles to address societal challenges.

Language English
ISBN-10 9780316027571
No of pages 272
Font Size Medium
Book Publisher Little Brown & Co
Published Date 07 Feb 2008

About Author

Author : Tim Harford

4 Books

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