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the TOP 100 Economics Books - 05/02/2012

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Economics
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21

SPSS Survival Manual: A step by step guide to data analysis using SPSS

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In this thoroughly revised fourth edition of her bestselling text, Julie Pallant guides you through the entire research process, helping you choose the right data analysis technique for your project.

22

The Undercover Economist

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Amazon.co.uk Review:
<div class="aplus"><span class="h1"><strong>Author Q&A with Tim Harford</strong></span>



<img alt="Tim Harford" src="http://g-ecx.images-amazon.com/images/G/02/ciu/74/b3/b86ab81e7b8b0a20e32f75.L._V171495538_SL290_.jpg" style="float: right; border: 1px solid black; margin: 5px;">



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 . My first job was 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 have had much higher failure rates 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 correct 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.



Click here to read a longer version of this interview.

</div>

24

Predictably Irrational: The Hidden Forces that Shape Our Decisions

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Why do smart people make irrational decisions every day? The answers will surprise you. Predictably Irrational is an intriguing, witty and utterly original look at why we all make illogical decisions.

27

Economics with MyEconLab

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28

The Communist Manifesto (Penguin Classics)

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The 'Communist Manifesto' presents a summary of the whole Marxist vision of history and is the foundation document of the Marxist movement. Published on the eve of the 1848 revolutions, the manifesto is a condensed accpunt of the world-view of Marx and Engels, evolved over the previous few years.

29

The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It

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The Bottom Billion is an elegant and impassioned synthesis from one of the world's leading experts on Africa and poverty. It was hailed as 'the best non-fiction book so far this year' by Nicholas Kristoff of The New York Times.

31

How to Run a Great Workshop: The Complete Guide to Designing and Running Brilliant Workshops and Meetings

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Dealing with running successful group sessions, this book takes you through the early stages of planning and preparation, for showing you how to build a great session. It also covers group activities, how to use materials and how to be remembered for the right reasons, along with an overview of training theory and learning models.

32

The Money Machine: How the City Works

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What causes the pound to rise or interest rates to fall? Which are the institutions that really matter? Why is it we need the Money Machine - and what happens when it crashes? This title provides answers and shows why we should be more familiar with a system we so intimately depend upon. It explains the nuts and bolts of the financial system.

34

Economics For Dummies: UK Edition

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Untangle the jargon and understand how you're involved in everyday economics If you want to get to grips with the basics of economics and understand a subject that affects us all on a daily basis, then look no further than Economics For Dummies.

35

Superfreakonomics: Global Cooling, Patriotic Prostitutes and Why Suicide Bombers Should Buy Life Insurance

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Reveals such things as why you are more likely to be killed walking drunk than driving drunk; how a prostitute is more likely to sleep with a policeman than be arrested by one; why terrorists might be easier to track down than you would imagine; and, how a sex change could boost your salary.

36

Screw It, Let's Do It: Lessons In Life (Quick Read)

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Reveals the lessons that have helped global entrepreneur, Sir Richard Branson, through his business and personal life, like believing it can be done and that, if others disagree with you, try and try again until you achieve your goal; or that you must love what you do.

37

The Shock Doctrine: The Rise of Disaster Capitalism

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Exposes the shock doctors and offers information and connections that show how the shock doctors' beliefs dominate our world - and how this domination has been achieved. This book tells the tale of how a few are making a killing while more are getting killed.

38

Prosperity without Growth: Economics for a Finite Planet

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Is more economic growth the solution? Will it deliver prosperity and well-being for a global population projected to reach nine billion? In this book, the author - a top sustainability adviser to the UK government - makes a compelling case against continued economic growth in developed nations.

39

The Ascent of Money: A Financial History of the World

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From the cash injection that funded the Italian Renaissance to the stock market bubble that sparked the French Revolution, from the bonds that fueled Britain's war effort to the Wall Street Crash and meltdown, this book presents the story of boom and bust. It shows that finance is the foundation of all human progress and the lifeblood of history.



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