The Undercover Economist

What's it about?
Embracing the basic lessons:- fight scarcity power and corruption, correct externalities, try and maximise information, get the incentives right, engage with other countries, embrace markets that do most of these jobs at the same time.

Best Quote:
Sweatshops pay low wages and work long hours. But workers go there voluntarily because the alternative life is worse. And the country gets richer, and will pay more wages and create more skilled jobs

Most useful idea:
A raft of fresh ideas as to why things happen. How China is growing richer. How to target aid. The G3 auction success. NHS funding. Free Trade better than Fairtrade. Difficulty in buying a decent used car. Why Mocha costs so much more than Cappuccino.

Posted by: Richard Waller