Economics Books

Revolutionary retail guru Paco Underhill is back with fresh observations and important lessons in this completely revised edition of his classic, witty bestselling book on our ever-evolving consumer culture.This enlightening edition includes new information -The latest trends in online retail—what retailers are doing right and what they’re doing wrong—and how nearly every Internet retailer from iTunes to Amazon can drastically improve how it serves its customers.-A guided tour of the most innovative stores, malls and retail environments around the world—almost all of which are springing up in countries where prosperity is new. An enormous indoor ski slope attracts shoppers to a mall in Dubai; an uber-luxurious Sao Paolo department store provides its customers with personal shoppers; a mall in South Africa has a wave pool for surfing.The new Why We Buy is an essential guide that offers advice on how to keep your changing customers and entice new and eager ones.

In the spirit of Alvin Tofflers' Future Shock, a social critique of our obsession with choice, and how it contributes to anxiety, dissatisfaction and regret. Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401K, everyday decisions have become increasingly complex due to the overwhelming abundance of choice with which we are presented. In The Paradox of Choice, Barry Schwartz explains why too much of a good thing has proven detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz explains how a culture that thrives on the availability of constantly evolving options can also foster profound dissatisfaction and self-blame in individuals, which can lead to a paralysis in decision making and, in some cases, depression. With the latest studies on how we make choices in our personal and professional lives, Schwartz offers practical advice on how to focus on the right choices, and how to derive greater satisfaction from choices that we do make.

Outsell, outmanage, outmotivate and outnegotiate your competition

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As a Professor of Behavioural Science at the London School of Economics, Dolan conducts original research into the measurement of happiness and its causes and consequences, including the effects of our behaviour. Here he creates a new outlook on the pursuit of happiness - it's not just how you feel, it's how you act. Happiness by Design shows that being happier requires us to actively re-design our immediate environment. Enough has been written on how to think happy. Happiness by Design is about how to behave happy and how to incorporate the most recent research findings into our everyday lives.

Since Plato, philosophers have described the decision-making process as either rational or emotional: we carefully deliberate or we ‘blink’ and go with our gut. But as scientists break open the mind’s black box with the latest tools of neuroscience, they’re discovering this is not how the mind works. Our best decisions are a finely tuned blend of both feeling and reason – and the precise mix depends on the situation. When buying a house, for example, it’s best to let our unconscious mull over the many variables. But when we’re picking stocks and shares, intuition often leads us astray. The trick is to determine when to lean on which part of the brain, and to do this, we need to think harder (and smarter) about how we think.In The Decisive Moment, Jonah Lehrer arms us with the tools we need, drawing on cutting-edge research by Daniel Kahneman, Colin Camerer and others, as well as the world’s most interesting ‘deciders’ – from airline pilots, world famous sportsmen and hedge fund investors to serial killers, politicians and poker players. He shows how the fluctuations of a few dopamine neurons saved a battleship during the Persian Gulf War, and how the fevered activity of a single brain region led to the sub-prime mortgage crisis. Lehrer’s goal is to answer two questions that are of interest to just about anyone, from CEOs to firefighters: How does the human mind make decisions? And how can we make those decisions better?

The Halo Effect is a thought-provoking book that challenges the often-gullible reader who believes everything they might hear or see advertised. Rosenzweig presents an unconventional and humorous insight that will spur the reader on to think more critically and deeply about business success. This book is perfect for businesspeople looking to expand their knowledge and insights, and for students looking to develop their critical thinking skills.

Everyone wants to succeed in life. But what causes some of us to be more successful than others? Is it really down to skill and strategy - or something altogether more unpredictable? This book is the word-of-mouth sensation that will change the way you think about business and the world. It is all about more precisely, how we perceive luck in our personal and professional experiences. Nowhere is this more obvious than in the markets - we hear an entrepreneur has 'vision' or a trader is 'talented', but all too often their performance is down to chance rather than skill. It is only because we fail to understand probability that we continue to believe events are non-random, finding reasons where none exist. This irreverent bestseller has shattered the illusions of people around the world by teaching them how to recognize randomness. Now it can do the same for you.

The emphasis of Quality is pervading every facet of business, and managers are required to know and apply TQM principles. This book explores the strategic role of quality global competition, the roles of management in attaining quality excellence, the structures and systems needed to support a total quality strategy, and the main statistical and analytical tools for achieving quality improvement and control.

The New York Times bestselling author of Predictably Irrational and The Upside of Irrationality returns with thought-provoking work to challenge our preconceptions about dishonesty and urge us to take an honest look at ourselves.Does the chance of getting caught affect how likely we are to cheat? How do companies pave the way for dishonesty? Does collaboration make us more honest or less so? Does religion improve our honesty? Most of us think of ourselves as honest, but, in fact, we all cheat. From Washington to Wall Street, the classroom to the workplace, unethical behavior is everywhere. None of us is immune, whether it's the white lie to head off trouble or padding our expense reports. In The (Honest) Truth About Dishonesty, award-winning, bestselling author Dan Ariely turns his unique insight and innovative research to the question of dishonesty. Generally, we assume that cheating, like most other decisions, is based on a rational cost-benefit analysis. But Ariely argues, and then demonstrates, that it's actually the irrational forces that we don't take into account that often determine whether we behave ethically or not. For every Enron or political bribe, there are countless puffed résumés, hidden commissions, and knockoff purses. In The (Honest) Truth About Dishonesty, Ariely shows why some things are easier to lie about; how getting caught matters less than we think; and how business practices pave the way for unethical behavior, both intentionally and unintentionally. Ariely explores how unethical behavior works in the personal, professional, and political worlds, and how it affects all of us, even as we think of ourselves as having high moral standards. But all is not lost. Ariely also identifies what keeps us honest, pointing the way for achieving higher ethics in our everyday lives. With compelling personal and academic findings, The (Honest) Truth About Dishonesty will change the way we see ourselves, our actions, and others

“Bold and original.” —Daniel Kahneman, PhD, bestselling author of Thinking Fast and Slow There are a slew of books on the market dictating programs for achieving happiness, but Happiness by Design is the first to explain that happiness ultimately depends upon our experience of pleasure and purpose over time—and everyone has their own optimal balance. Combining the latest insights from economics and psychology, renowned behavior expert Paul Dolan, PhD, shows readers how to integrate his ground–breaking paradigm into a practical plan for deciding, designing, and doing the things that bring them true happiness.

Why do we lose money? It's easy to blame the economy or the financial markets-but the real trouble lies in the decisions we make.As a financial planner, Carl Richards grew frustrated watching people he cared about make the same mistakes over and over. They were letting emotion get in the way of smart financial decisions. He named this phenomenon-the distance between what we should do and what we actually do-"the behavior gap." Using simple drawings to explain the gap, he found that once people understood it, they started doing much better.Richards's way with words and images has attracted a loyal following to his blog posts for The New York Times, appearances on National Public Radio, and his columns and lectures. His book will teach you how to rethink all kinds of situations where your perfectly natural instincts (for safety or success) can cost you money and peace of mind.He'll help you to:avoid the tendency to buy high and sell low; avoid the pitfalls of generic financial advice; invest all of your assets-time and energy as well as savings-more wisely; quit spending money and time on things that don't matter; identify your real financial goals; start meaningful conversations about money; simplify your financial life; stop losing money!It's never too late to make a fresh financial start. As Richards writes: "We've all made mistakes, but now it's time to give yourself permission to review those mistakes, identify your personal behavior gaps, and make a plan to avoid them in the future. The goal isn't to make the 'perfect' decision about money every time, but to do the best we can and move forward. Most of the time, that's enough."

A new, evolutionary explanation of markets and investor behaviorHalf of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Galapagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

The bestselling author of Emotional Intelligence and Primal Leadership now brings us Ecological Intelligence —revealing the hidden environmental consequences of what we make and buy, and how with that knowledge we can drive the essential changes we all must make to save our planet and ourselves.We buy “herbal” shampoos that contain industrial chemicals that can threaten our health or contaminate the environment. We dive down to see coral reefs, not realizing that an ingredient in our sunscreen feeds a virus that kills the reef. We wear organic cotton t-shirts, but don’t know that its dyes may put factory workers at risk for leukemia. In Ecological Intelligence , Daniel Goleman reveals why so many of the products that are labeled green are a “mirage,” and illuminates our wild inconsistencies in response to the ecological crisis.Drawing on cutting-edge research, Goleman explains why we as shoppers are in the dark over the hidden impacts of the goods and services we make and consume, victims of a blackout of information about the detrimental effects of producing, shipping, packaging, distributing, and discarding the goods we buy.But the balance of power is about to shift from seller to buyer, as a new generation of technologies informs us of the ecological facts about products at the point of purchase. This “radical transparency” will enable consumers to make smarter purchasing decisions, and will drive companies to rethink and reform their businesses, ushering in, Goleman claims, a new age of competitive advantage.

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Lẽ phải của phi lý trí không phải là một cuốn sách hàn lâm khô khan chỉ toàn lý thuyết, mà nó được sử dụng dữ liệu từ những thí nghiệm thú vị và độc đáo dẫn đến những kết luận hấp dẫn về cách thức – và nguyên nhân tại sao chúng ta hành động như vậy. Từ những thái độ tại nơi làm việc của chúng ta, cho tới những mối quan hệ lãng mạn, tới việc chúng ta luôn tìm kiếm mục đích cuộc đời mình, Ariely lý giải cách thức phá vỡ những khuôn mẫu bi quan trong suy nghĩ và hành vi của chúng ta để đưa ra những quyết định tốt hơn. Cuốn sách kỹ năng này sẽ thay đổi cách thức chúng ta nhận thức bản thân trong công việc và trong gia đình – và soi xét các hành vi phi lý trí của chúng ta dưới một thứ sắc thái ánh sáng hoàn toàn mới mẻ. Đọc Lẽ phải của phi lý trí – một cuốn sách lãnh đạo và quản lý hữu ích, bạn sẽ biết nhiều điều như:- Tại sao những khoản tiền thưởng lớn lại có thể khiến các CEO làm việc kém hiệu quả hơn?- Làm cách nào mà những định hướng rối rắm lại hữu ích đối với chúng ta?- Tại sao việc trả thù lại quan trọng?- Tại sao có một sự khác biệt rất lớn giữa điều mà chúng ta nghĩ là sẽ khiến chúng ta hạnh phúc và những thứ thực sự khiến chúng ta hạnh phúc?- Và rất nhiều phát hiện thú vị khác.

In 2008, as the price of oil surged above $140 a barrel, experts said it would soon hit $200; a few months later it plunged to $30. In 1967, they said the USSR would be the world's fastest-growing economy by 2000, the USSR no longer existed. In 1908, it was pronounced that there would be no more wars in Europe; we all know how that turned out. Face it, experts are about as accurate as dart-throwing monkeys. And yet every day we ask them to predict the future--everything from the weather to the likelihood of a terrorist attack. Future Babble is the first book to examine this phenomenon, showing why our brains yearn for certainty about the future, why we are attracted to those who predict it confidently, and why it's so easy for us to ignore the trail of outrageously wrong forecasts. In this fast-paced, example-packed, sometimes darkly hilarious book, Dan Gardner shows how seminal research by professor Philip Tetlock proved that the more famous a pundit is, the more likely they are to be right about as often as a stopped watch. Gardner also draws on current research in cognitive psychology, political science, and behavioral economics to discover something quite The future is always uncertain, but the end is not always near.

“There are at least two kinds of games,” states James P. Carse as he begins this extraordinary book. “One could be called finite; the other infinite. A finite game is played for the purpose of winning, an infinite game for the purpose of continuing the play.”Finite games are the familiar contests of everyday life; they are played in order to be won, which is when they end. But infinite games are more mysterious. Their object is not winning, but ensuring the continuation of play. The rules may change, the boundaries may change, even the participants may change—as long as the game is never allowed to come to an end.What are infinite games? How do they affect the ways we play our finite games? What are we doing when we play—finitely or infinitely? And how can infinite games affect the ways in which we live our lives?Carse explores these questions with stunning elegance, teasing out of his distinctions a universe of observation and insight, noting where and why and how we play, finitely and infinitely. He surveys our world—from the finite games of the playing field and playing board to the infinite games found in culture and religion—leaving all we think we know illuminated and transformed. Along the way, Carse finds new ways of understanding everything, from how an actress portrays a role to how we engage in sex, from the nature of evil to the nature of science. Finite games, he shows, may offer wealth and status, power and glory, but infinite games offer something far more subtle and far grander.Carse has written a book rich in insight and aphorism. Already an international literary event, Finite and Infinite Games is certain to be argued about and celebrated for years to come. Reading it is the first step in learning to play the infinite game.

Business ethics and behavior expert Dov Seidman’s New York Times bestseller How: Why HOW We Do Anything Means Everything, is now available on audio in its new expanded edition.The flood of information, unprecedented transparency, increasing interconnectedness—and our global interdependence—are dramatically reshaping today’s world, the world of business, and our lives. We are in the Era of Behavior and the rules of the game have fundamentally changed. It is no longer what you do that matters most and sets you apart from others, but how you do what you do. “Whats” are commodities, easily duplicated or reverse-engineered. Sustainable advantage and enduring success for organizations and the people who work for them now lie in the realm of how, the new frontier of conduct.     For almost two decades, Dov Seidman’s pioneering organization, LRN, has helped some of the world’s most respected companies build “do it right,” winning cultures and inspire principled performance throughout their organizations. Seidman’s distinct vision of the world, business, and human endeavor has helped enable more than 15 million people doing business in more than 120 countries to outbehave the competition. In HOW: Why HOW We Do Anything Means Everything, Dov Seidman shares his unique approach with you. Now updated and expanded, How includes a new preface from Dov Seidman on why how we behave, lead, govern, operate, consume, engender trust in our relationships, and relate to others matters more than ever and in ways it never has before.     Through entertaining anecdotes, surprising case studies, cutting-edge research in a wide range of fields, and revealing interviews with a diverse group of leaders, business executives, experts, and everyday people on the front lines, this book explores how we think, how we behave, how we lead, and how we govern our institutions and ourselves to uncover the values-inspired “hows” of twenty-first-century success and significance.

This book is a captivating exploration of the complex world of economics, revealing the hidden forces that shape our everyday lives. With engaging examples and witty storytelling, The Undercover Economist demystifies economic concepts and shows how they apply to real-world situations. From understanding the true cost of your morning coffee to unraveling the secrets of pricing strategies, this book will open your eyes to the fascinating world of money and its effects on society. It's a must-read for anyone looking to gain a deeper understanding of how economics impacts our daily choices and the world around us.

We're all stuffocated. We have more stuff than we could ever need - but it's bad for the planet and it's making us stressed. It might even be killing us.In this groundbreaking book, trend forecaster James Wallman finds that a rising number of people are turning away from all-you-can-get consumption, from the exec who's sold almost everything he owns, to the well-off family who moved to a remote mountain cabin.In Stuffocation, Wallman's solution is to focus less on possessions and more on experiences. It is a manifesto for a vital change in how you live - and it's the one book you won't be able to live without.

Review: Superfreakonomics is a fascinating exploration of unconventional economic principles that will challenge your preconceived notions. Levitt and Dubner dive deep into controversial topics, presenting mind-bending truths that are backed by unexpected economic insights. From discussing the surprising risks of walking drunk to the intriguing dynamics between prostitutes and policemen, this book will keep you engaged from start to finish. Prepare to have your perspective shifted and your assumptions shattered as you explore the hidden side of societal issues.

Superfreakonomics could be a good read for curious minds who are fascinated by unconventional and thought-provoking ideas. With its revolutionary research and original studies, this book challenges our existing beliefs and offers fresh insights into how the world functions. From exploring the surprising link between climate change and prostitution to proposing unconventional solutions for suicide bombers, Superfreakonomics stimulates critical thinking and invites readers to question commonly accepted norms. Whether you're interested in economics or simply enjoy exploring unconventional topics, this book is bound to expand your perspective and ignite stimulating conversations.

What if the best was yet to come? Recent studies show that our happiness levels peak at age 82, and that our decision-making skills improve as we age. As more of us live past the age of 80, in this ground-breaking book, Dr Daniel Levitin uses cutting-edge research from neuroscience and psychology to demonstrate the benefits of getting older.Packed with engaging interviews with individuals who thrived far beyond the conventional age of retirement, this book also reflects on challenges many readers will recognize. Levitin offers a realistic personal plan full of practical, cognitive enhancing tricks for everyone to follow over the years.Successful Ageing is a radical exploration of what we all can learn from those who age joyously. This book will revolutionize the way we plan for old age as individuals, family members, and citizens of a society in which the average life expectancy continues to rise.

If you're someone who's always been fascinated by the power of collective momentum, "The Tipping Point: How Little Things Can Make a Big Difference" is a must-read for you. Malcolm Gladwell takes you on a captivating journey into the world of tipping points, unraveling the hidden dynamics behind the spread of ideas, trends, and behaviors. With his thought-provoking analysis and captivating storytelling, you'll gain a newfound understanding of how the small actions of individuals can have an enormous impact on society as a whole. Prepare to be inspired and challenged to think differently about the world around you.

If you're intrigued by the phenomena of social epidemics and want insight into how minor changes can ignite major trends, "The Tipping Point" is a captivating read. Malcolm Gladwell's exploration is not only intellectually stimulating but also practically insightful, revealing the levers that can steer collective behavior. Ideal for anyone interested in the forces shaping our cultural landscape.

An updated edition of the blockbuster bestselling leadership book that took America and the world by storm, two U.S. Navy SEAL officers who led the most highly decorated special operations unit of the Iraq War demonstrate how to apply powerful leadership principles from the battlefield to business and life.Combat, the most intense and dynamic environment imaginable, teaches the toughest leadership lessons, with absolutely everything at stake. Jocko Willink and Leif Babin learned this reality first-hand on the most violent and dangerous battlefield in Iraq. As leaders of SEAL Team Three's Task Unit Bruiser, their mission was one many thought impossible: help U.S. forces secure Ramadi, a violent, insurgent-held city deemed "all but lost." In gripping, firsthand accounts of heroism, tragic loss, and hard-won victories, they learned that leadership--at every level--is the most important factor in whether a team succeeds or fails.Willink and Babin returned home from deployment and instituted SEAL leadership training to pass on their harsh lessons learned in combat to help forge the next generation of SEAL leaders. After leaving the SEAL Teams, they launched a company, Echelon Front, to teach those same leadership principles to leaders in businesses, companies, and organizations across the civilian sector. Since that time, they have trained countless leaders and worked with hundreds of companies in virtually every industry across the U.S. and internationally, teaching them how to develop their own high-performance teams and most effectively lead those teams to dominate their battlefields.Since it's release in October 2015, Extreme Ownership has revolutionized leadership development and set a new standard for literature on the subject. Required reading for many of the most successful organizations, it has become an integral part of the official leadership training programs for scores of business teams, military units, and first responders. Detailing the mindset and principles that enable SEAL units to accomplish the most difficult combat missions, Extreme Ownership demonstrates how to apply them to any team or organization, in any leadership environment. A compelling narrative with powerful instruction and direct application, Extreme Ownership challenges leaders everywhere to fulfill their ultimate purpose: lead and win.

The Culture Code reveals the secrets of some of the best teams in the world – from Pixar to Google to US Navy SEALs – explaining the three skills such groups have mastered in order to generate trust and a willingness to collaborate. Combining cutting-edge science, on-the-ground insight and practical ideas for action, it offers a roadmap for creating an environment where innovation flourishes, problems get solved, and expectations are exceeded.

This book could be a good read for anyone who wants to challenge conventional wisdom and learn how to navigate an uncertain world. Nassim Nicholas Taleb presents the concept of antifragility, which goes beyond resilience and shows how disruptions and volatility can actually benefit us. With wit and erudition, Taleb's revolutionary ideas will make you question your assumptions and inspire you to embrace chaos as an opportunity for growth and success. Get ready to challenge the status quo and discover a new way of looking at the world.

What separates the world's top traders from the vast majority of unsuccessful investors? Jack Schwager sets out to answer tis question in his interviews with superstar money-makers including Bruce Kovner, Richard Dennis, Paul Tudor Jones, Michel Steinhardt, Ed Seykota, Marty Schwartz, Tom Baldwin, and more in "Market Wizards: Interviews with Top Traders," now in paperback and ebook.This classic interview-style investment text from a financial expert is a must-read for traders and professional financiers alike, as well as anyone interested in gaining insight into how the world of finance really works.Filled with anecdotes about market experiences, including the story of a trader who after wiping out several times, turned $30,000 into $80 million and an electrical engineer from MIT whose computerized trading has earned returns of 250,000 percent over sixteen yearsIdentifies the factors that define a successful traderNow availabe as in digital formats.One of the most insightful, bestselling trading books of all time.

Author Q&A with Tim Harford [image] So are you an economic missionary, or is this just something that you love to do? It began as something that I love to do--and I think I am now starting to get a sense of it being a mission. People can use economics and they can use statistics and numbers to get at the truth and there is a real appetite for doing so. This is such a BBC thing to say--there’s almost a public service mission to be fulfilled in educating people about economics. When I wrote The Undercover Economist, it was all about my pure enthusiasm for the subject; the book is full of stuff I wanted to say and that is always the thing with the books: they are always such fun to write. Do you think that people these days are generally more economically literate? People are now aware of economics for various reasons. There are the problems with the economy--there is always more interest in economics when it is all going wrong. Where is the border line in your new book between economics and sociology? I don’t draw a border line, and particularly not with the new book. The Undercover Economist was basically all the cool economics I could think of and The Logic of Life was me investigating a particular part of economics. All of the references in The Logic of Life were academic economics papers that I had related--and hopefully made more fun. This new book, Adapt, is very different. I have started by asking what is wrong with the world, what needs fixing, how does it work--and if economics can tell us something about that (which it can) then I have used it. And if economics is not the tool that you need--if you need to turn to sociology or engineering or biology or psychology--I have, in fact, turned to all of them in this book. If that’s what you need, then that’s where I have gone. So I have written this book in a different way: I started with a problem and tried to figure out how to solve it. What specific subjects do you tackle? To be a bit more specific, the book is about how difficult problems get solved and I look at quick change; the banking crisis; poverty; innovation, as I think there is an innovation slow-down; and the war in Iraq. Also, I look at both problems in business and in everyday life. Those are the big problems that I look at--and my conclusion is that these sorts of problems only ever get solved by trial and error, so when they are being solved, they are being solved through experimentation, which is often a bottom-up process. When they are not being solved it is because we are not willing to experiment, or to use trial and error. Do you think companies will change to be much more experimental, with more decisions placed in the hands of employees? I don’t think that is necessarily a trend, and the reason is that the market itself is highly experimental, so if your company isn’t experimental it may just happen to have a really great, successful idea--and that’s fine; if it doesn’t, it will go bankrupt. But that said, it is very interesting to look at the range of companies who have got very into experimentation--they range from the key-cutting chain Timpson’s to Google; you can’t get more different than those two firms, but actually the language is very similar; the recruitment policies are similar; the way the employees get paid is similar. The “strap line” of the book is that “Success always starts with failure.” You are a successful author… so what was the failure that set you up for success? I was working on a book before The Undercover Economist… it was going to be a sort of Adrian Mole/Bridget Jones’ Diary-styled fictional comedy, in which the hero was this economist and through the hilarious things that happened to him, all these economic principles would be explained--which is a great idea--but the trouble is that I am not actually funny. Another example would be my first job as a management consultant… and I was a terrible management consultant. I crashed out after a few months. Much better that, than to stick with the job for two or three years-- a lot of people say you have got to do that to “show your commitment.” Taking the job was a mistake--why would I need to show my commitment to a mistake? Better to realise you made a mistake, stop and do something else, which I did. That idea that “failure breeds success” is central to most entrepreneurs. Do you think we need more of it in the UK? I think that the real problem is not failure rates in business; the problem is failure rates in politics. We need a much higher failure rate in politics. What actually happens is politicians--and this is true of all political parties--have got some project and they’ll say, “Right, we are going to do this thing,” and it is quite likely that idea is a bad idea--because most ideas fail; the world is complicated and while I don’t have the numbers for this, most ideas are, as it turns out, not good ideas. But they never collect the data, or whatever it is they need to measure, to find out where their idea is failing. So they have this bad idea, roll this bad idea out and the bad idea sticks, costs the country hundreds, millions, or billions of pounds, and then the bad idea is finally reversed by the next party on purely ideological grounds and you never find out whether it really worked or not. So we have this very, very low willingness to collect the data that would be necessary to demonstrate failure, which is the bit we actually need. To give a brief example: Ken Livingstone, as Mayor of London, came along and introduced these long, bendy buses. Boris Johnson came along and said, “If you elect me, I am going to get rid of those big bendy buses and replace them with double-decker buses.” He was elected and he did it, so… which one of them is right? I don’t know. I mean, isn’t that crazy? I know democracy is a wonderful thing and we voted for Ken Livingstone and we voted for Boris Johnson, but it would be nice to actually have the data on passenger injury rates, how quickly people can get on and off these buses, whether disabled people are using these buses… the sort of basic evidence you would want to collect. Based on that, are you a supporter of David Cameron’s “Big Society”, which in a sense favours local experimentation over central government planning? Well, I have some sympathy for the idea of local experimentation, but what worries me is that we have to have some mechanism that is going to tell you what is working and what is not--and there is no proposal for that. Cameron’s Tories seem to have the view that ‘if it is local then it will work.’ In my book, I have all kinds of interesting case studies of situations where localism really would have worked incredibly well, as in, say, the US Army in Iraq. But I have also got examples of where localism did not work well at all--such as a corruption-fighting drive in Indonesia. Is the new book, Adapt, your movement away from economic rationalist to management guru? Are you going to cast your eye over bigger problems? The two changes in Adapt are that I have tried to start with the problem, rather than saying, “I have got a hammer--I’m going to look for a nail.” I started with a nail and said, “Ok, look, I need to get this hammered in.” So I have started with the problem and then looked anywhere for solutions. And the second thing is that I have tried to do is write with more of a narrative. This is not a Malcolm Gladwell book, but I really admire the way that people like Gladwell get quite complex ideas across because they get you interested in the story; that is something that I have tried to do more of here. I am not too worried about it, because I know that I am never going to turn into Malcolm Gladwell--I am always going to be Tim Harford--but it doesn’t hurt to nudge in a certain direction. On Amazon, we recommend new book ideas to people: “If you like Tim Harford you may like…”, but what does Tim Harford also like? I read a lot of books, mostly non-fiction and in two categories: people who I think write a lot better than I do, and people who think about economics more deeply than I do. In the first category I am reading people like Michael Lewis, Kathryn Schulz (I loved her first book, Being Wrong), Malcolm Gladwell and Alain de Botton. In the second category, I read lots of technical economics books, but I enjoy Steven Landsburg, Edward Glaeser (who has a book out now which looks good), Bill Easterly… I don’t necessarily agree with all of these people! When I am not reading non-fiction, I am reading comic books or 1980s fantasy authors like Jack Vance.

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Librarian note: An alternative cover for this ISBN can be found here.The Freakquel is here. In Superfreakonomics Steven Levitt and Stephen Dubner look deeper, question harder and uncover even more hidden truths about our world, from terrorism to shark attacks, cable TV to hurricanes. They ask, among other things: ~What's a sure-fire way to catch a terrorist? ~Are people hard-wired for altruism or selfishness? ~Which cancer does chemotherapy work best for? ~Why is combating global warming easier than we think? Sometimes, the most superfreaky solution is the simplest.~from the back cover