16 of 17 people found the following review helpful
An interesting read for an economics newbie,
This review is from: Adapt: Why Success Always Starts with Failure (Hardcover)I'm not sure entirely who is expected to buy this latest book by Tim Harford, but I wonder if the person-in-the-street, such as myself, might just be a suitable audience, rather than other economists.
My knowledge of economics is extremely basic. I've read some of a book (in German) by a German economist friend, and I listen to More or Less on Radio 4, which is of course presented by Tim Harford. His excellent presentation style on that programme made me pick up this book with some anticipation.
I wasn't disappointed. The same friendly, chatty style appears throughout this book. Things are explained clearly and efficiently and you aren't left feeling like you're a bit thick if you aren't conversant with the latest economic theory. The book abounds with examples in daily life of what he's talking about, whether it's military engagements by the US army or employee benefits in Timpsons the keycutters. It made the book always interesting and lent authority to his arguments.
The book is very well structured with chapters dealing with overall situations (such as the Afghanistan/Iraq wars, climate change, the financial crisis, business structure) but broken down into many subheadings which mean it's easy to pick the book up and read for a few minutes without completely losing the thread. Tim Harford's research and wide-ranging knowledge help to make this a fascinating read.
I did feel that at times there was a fairly black and white presentation of events, particularly with regard to the hugely complex Afghanistan conflict. It was as if "it was all going wrong, and then someone adapted/came up with a new plan and now it's great." Undoubtedly many of these adaptations made a significant difference but I wasn't convinced they were quite as magic-bullet as I felt they were portrayed. Another example is talking about the way some companies are structured. One of the companies mentioned in glowing terms throughout is one that an acquaintance works for and their story is somewhat different about life in that business. As always, there are many facets of each situation and life is complex but I felt that this didn't always come across in this book.
However, for an economics newbie such as myself it was a really good introduction to Harford's theme of adaptation - that innovation and variety are key to the health of economies, businesses, and more.