Book Description
What’s the secret to wowing your customers while maintaining a loyal and dedicated workforce? No one knows better than Enterprise, the nation’s #1 car rental company. Drawing upon the time-tested strategies that have propelled Enterprise from a single location in St. Louis into a $9 billion global powerhouse, EXCEEDING CUSTOMER EXPECTATIONS reveals how to:
• Actively seek out unsatisfied customers and quickly turn them into loyal fans
• Hire smart people and train them from the ground up
•Develop methods to reduce costs and add value for your customers in every interaction.
• Grow your business by rewarding employees with financial incentives, forming strong partnerships, and focusing on the long-term
• Thrive during tough economic times by bringing new advantages to the market
• Cultivate a fun and friendly workplace where teamwork rules
In EXCEEDING CUSTOMER EXPECTATIONS, noted business author Kirk Kazanjian reveals how your company can consistently outperform and outsmart the competition by following a simple philosophy espoused by Enterprise founder Jack Taylor: “Take care of your customers and employees first, and the profits will follow.” Winning customer loyalty is like running a marathon–not a 100-yard dash. By mastering this principle, Enterprise has earned not only record profits, but also received numerous awards for customer service and earned an enviable reputation as one of the world’s best companies to work for.
EXCEEDING CUSTOMER EXPECTATIONS imparts timeless lessons on satisfying both customers and employees that you can put to use right away, no matter what your business or industry.
Customer Reviews:
"Pick Up" Your Customer Service!!!.......2007-03-10
This book is AWESOME! Although Enterprise is a car rental company, many of their methods can be successfully applied to other businesses. Another great companion book to this is The Ultimate Question by Fred Reicheld. They both make the assertion that you have to turn first time customers into "promoters" who will return AND bring others with them. When I need to rent a car I will Pick Enterprise...They Pick Me Up!!!
Great book about a great company.......2007-03-08
Enterprise is the best, and this book tells us exactly why. Take care of your customers and employees first, then the profits will follow. Well written, easily understood, this is a book that anyone having anything to do with customer service should read. Learn the secret that makes Enterprise Rent-a-Car so succussful. Well worth the read.
PROVIDES IMPORTANT GUIDELINES FOR SUCCESS IN A HIGHLY COMPETITIVE MARKET........2007-03-02
The author uses Enterprise to uncover critical insights that he distills into clearly stated key points. The essential focus of the book is on people...employees.
This is an first-rate analysis of a winning company, giving the reading important guidelines for success in any highly competitive market. Human resource professionals (yes, HR folks) should read this book, along with those who are concerned with business planning and marketing.
Good Book. Wrong Title........2007-03-02
EXCEEDING CUSTOMER EXPECTATIONS by Kirk Kazanjian may be viewed in a variety of ways. Many will consider this book nothing more than a marketing campaign, and in large part, they would be correct. However, I find no fault in that. If that were the intention of the people at Enterprise, it is ingenious. They certainly won my loyalty, not that I ever have much need to rent a vehicle, but if I ever do,....
Others might view this book just as the title opines, an instructional treatise on customer service. They too would be correct, but only to a certain degree. I say that because I found the book to be more of a business model. In fact, I would say this book is broken down thusly; 50% business model, 30% Enterprise company history and 20% customer service. Therefore, my only big knock on this book is the title, which leads the reader to believe customer service is the primary focus here. It is not. That is not to say, however, that readers will not glean valuable information on customer service, just not as much as this reader would have liked.
The book reads well and Kazanjian is to be commended for his work, but I do not believe the story paints quite the intended picture. I found in large part, the Enterprise Company bumbled its way into prosperity because a few headstrong employees refused to follow company policy! A good example is the Enterprise "we'll pick you up" mantra. I won't give too much of the book away, but this and other business innovations within the company happened by chance. Please do not mistake this as ridicule of the company. Enterprise is certainly a gem in today's marketplace, just understand that according to this book, much of the company's success wasn't planned that way. Perhaps that in and of itself is what has made them successful; their ability to adapt.
I would like to make one other observation about the title of the book. My fear is that many will miss out on this book because of the title. This is an excellent resource for constructing a business model and is, at best, a mediocre source on customer service. If you are on a quest for knowledge on "exceeding customer expectations" you will likely be disappointed here as there are certainly more informative volumes available.
Great for your business.......2007-02-17
If you are looking for a book to give your employees for customer service skills this is the only one.
Customer Reviews:
Great research tool, questionable organization.......2006-08-03
This is an absolutely invaluable resource for dating old photos. Don't expect much gearhead content- this is strictly a spotters guide, mostly compiled from sales art.
A few complaints about organization:
1. It's a compilation of three other books, so comparing, say, a '39 to a '40 Chevy or a '65 to a '66 Ford requires jumping ahead literally hundreds of pages. Even page numbering starts over in each new section.
2. It's ostensibly in sequence by manufacturer rather than year, but sometimes by model instead- for example, in 1965 and prior, 'Tempest' and 'Thunderbird' follow 'Studebaker', rather than being listed with Pontiac and Ford. Jump ahead to 1966, and they're back under the manufacturer again... makes navigation a serious act of patience.
3. No index, despite being 1,079 pages.
Warts and all, it's a fantastic resource.
The BEST Automobile Reference.......2003-03-06
Excellent reference guide to automobiles. Uses actual ads to present the cars. Also includes sticker prices. This is a great book!
M. E.
American Car Bible.......2000-03-16
The best quick reference guide for all makes and models of American automobiles I have ever seen. Gives key changes to look for to identify specific model years.
Book Description
More than 4,000 OBDII fault codes are compiled and qualitatively described in this compendium of generic and manufacturer-specific proprietary fault codes for common vehicles. The diagnostic connectors, protocols and their classifications, breakdown of fault codes, and vocabulary used to describe components are detailed in the discussion of the anatomy of the OBDII scan tool. This comprehensive reference to fault codes aids in diagnostic assessment by making clear the nature of an automotive problem so that beginner and advanced technicians can make effective repairs.
Customer Reviews:
google it.......2007-08-05
i agree with the other reviewer - start by searching for "obd ii fault codes" - think about buying the book only if that fails to give you the info you need.
Nothing in here you can't find on Google........2007-03-29
Nothing in here you can't find on an internet search.
OBDII Fault code book.......2007-03-25
This is a good product if your scanner does not have the codes internal to the device. Codes for all major automobile manufacturers are included in the reference guide. I bought the CP9180 which made the reference guide
obsolete.
A waste of money.......2007-02-19
I bought this on Amazon's recommendation when I purchased an OBD II reader here. The book is just a list of every car's code followed by a one sentence description. The OBD II reader provides the same information in its user's manual and online documentation. Hopefully you read this before you spend any money on this item.
OBD II Code Reference Guide.......2007-01-09
You don't need this book. The Equus comes with the codes on a CD.
Product Description
Description coming soon...
Amazon.com
Although this book was around when many of today's parents were youngsters, it has remained a steadfast must-have in every toddler's library. For starters, it's a great vocabulary guide that names the many things that go (and some that haven't a prayer of going, but are great fun to imagine anyway). It's also teeming with detail-rich scenes and characters on every page, teaching children the rewards of looking long and closely (such as finding the hidden "Goldbug" in each spread). Along the way it entertains with the silly and slapstick--everything from toothpaste and toothbrush cars to six fire department vehicles that show up to extinguish a ladybug-size fire in a miniature pink convertible. What's most amazing about this book, however, is its longevity. When you purchase it for your fledgling talker, you should consider it an investment. Even 11-, 12-, and 13-year-olds are known to pore over the book nostalgically, cooing at Lowly Worm and eagerly tracking Officer Flossie's book-long chase after that irresponsible, speedster driver in a cowboy hat. (Ages 2 and older) --Gail Hudson
Customer Reviews:
Eternal delight.......2007-10-08
You will be asked to read this every night. Your child will sleep with it, and bring it out to breakfast. The hardcover binding thankfully is up to repeated page-turning by a toddler, and the printing is vibrant and clear. I prefer "What Do People Do All Day" as it tells more stories, but who can tell a three-year-old!
Cars and Trucks and Things That Go.......2007-09-29
I have been sharing this wonderful book with so many new mothers of boys ever since my 32-year old enjoyed his book as a child. It is so colorful and eye-catching and it is such fun to find Goldbug. It is a wonderful way to share with your child and to help him use his mind.
Timeless!.......2007-09-28
My 37 year old daughter loved this book, especially searching for the Goldbugs. I bought a copy for her almost-three year old daughter and she loves it just as much. Makes me happy!
Great book for kids, and nostalgic for parents.......2007-09-19
My husband wanted to buy this book for our two year old daughter because he remembered it very well from his childhood. Even though there are many pages our daughter loves to flip through them and see the different types of automobiles and trucks, and she loves to find the little goldbug on each page. The book is a little larger than most of her other books, but she doesn't have any trouble turning the pages, especially if it is laying on the floor. As she gets older she should not have any trouble with it if it is in her lap. I think that this book will entertain her for years to come, as there are so many different things to look at on every page, plus the fun of finding goldbug.
Lots to see.......2007-09-14
It probably helps that my son is obsessed with "things that go", but this has been one of his favorites for some time. He could sit and stare at the pages for a long time - well a long time for a 2-year old. There's a lot going on on each page, so I thought he might be a little overwhelmed with it all, but there are things on each page he focuses on. Dingo the dog and Goldbug help tie all the pages together. It helps his observation skills to search for them.
Book Description
The all new, updated, enhanced edition of the best-selling Learn in Your Car Foreign Language Series is ready to be released this Fall. In addition, this exciting new edition includes a Travelogue DVD of the relevant destination countries for each language. This added feature will enrich the learning experience and add that extra stimulus to motivate users with their studies.
Customer Reviews:
Great idea but give it enough time to work!.......2007-10-02
We're planning on visiting France someday so I got these CDs just as a "get started" project. I have a 20 minute drive to work everyday so I play these and I'm surprised that I'm actually retaining what I'm learning. I wouldn't mind if it worked faster but then again, I'm just doing this in my spare time.
Downsides:
1) You must play them pretty loud to hear the proper pronunciation and inflection. This isn't really a problem if you're alone in your car.
2) This doesn't really help with reading or writing but it does include books to go over while you're not driving! :D
Overall, I'm very satisfied with this product. I am speaking basic French with no prior French experience.
great prep for trip to France.......2007-09-02
I used the Learn in Your Car for about 6 weeks prior to a trip to France. I had studied French in high school for 5 years (graduated 25 years ago), so had some basis on which to build my language skills. The whole set was highly enjoyable, fun to use and really helped me when I got there. It is delivered in easily digestible bits, is clearly spoken and puts in useful conversational items. I also like the way it builds from the simplist of useful terms to incorporate more complicated vocabularly and grammar.
I had to report a broken washing machine to the manager of the home we rented. While it didn't actualy teach the words "The washing machine is broken." It did teach Do laundry and "it doesn't work" (in the car section). So, I was able to communicate this. I also had to inquire about a lost drivers license and employed some phrases taught in the CD to discuss this.
I had bought a french language Grammar Book along with the CDs. It was so overwhelming that I couldn't even get past the first chapter. I think the CDs are a terrific way to get immersed in the language that make it fun and enjoyable. Even my kids liked hearing it and repeating the phrases in the car.
People with no prior French language experience will have to go slower and may require more time to get up to speed.
Once I got to France, I sometimes found it hard to understand responses to my beautifully asked questions! However, the French were terrific at helping me with the language and explaining things slowly. I think more time with the CDs would have been useful: I only got through the 5th CD (Middle of the 2nd level).
I would highly recommend it to others planning travel to France.
Easy to use.......2007-08-12
All I can really say is that its easy to use and learn from... A good way to learn if you're always on the go.
Not bad, but not great.......2007-07-26
We bought this CD because we spend most of our time driving around in the car, and other products require that you follow along in a book. We found that some of the words were outdated (saying "garcon" for waiter, other books said whatever you do, don't call your waiters "garcon"). Also, it goes a little fast, so you have to listen over and over to get stuff. In addition, rather than teaching phrases, they concentrate on single words. Some of the best things that I did before I went to France was to learn my numbers, but this tape skips over numbers as they become repetitive (30, 31, 32, 40, 41, 42), which makes it hard to follow as numbers in French are not always the easiest.
Listening to it several times, though, I did pick up several words that were very useful ("billet" for ticket came in handy many times), so it did have some benefits.
You'll be Speaking French in No Time!.......2007-06-27
These cd's are great! Just pop 'em in your car and you'll be speaking French in no time! I have tried other products but for some reason I get bored because the process is slow or I don't really feel like I'm learning anything useful. (Like Eddie Izzard says, it's hard to work "le singe est dan l'arbre" into a conversation). Not the case with these! It teaches you things you'll need to know to get around first and then goes into the more obscure words and phrases. I listen and repeat in my car and then use the booklet at home to look up anything I'm unsure of. I know I'll do great in Paris next spring! If you're thinking of purchasing this product, go for it! You will not be disappointed!
Book Description
The all new, updated, enhanced edition of the best-selling Learn in Your Car Foreign Language Series is ready to be released this Fall. In addition, this exciting new edition includes a Travelogue DVD of the relevant destination countries for each language. This added feature will enrich the learning experience and add that extra stimulus to motivate users with their studies.
Customer Reviews:
for the traveler.......2007-10-09
The coarse was very clear and well organized etc. The problem I had with it is it concentrated on words I never use. example- consolate, pastry shop, railroad station. I wanted to learn how to talk to someone in Spanish. Everywhere I have traveled in Mexico all the airports etc all speak English so I don't need all the travel words, I wanted to have a conversation. Most of this coarse is dedicated to travel.
Geared for a traveler...........2007-09-24
The value of what you are getting for the price with this set is incredible. There are 11 total discs including the introduction, 8 lessons discs and 2 bonus discs. It includes 3 books (1 for each level) and a case to carry it all in.
The format is good, with English words and phrases followed by a pause then 2 Spanish repetitions each followed by a pause. This gives you a chance to test yourself after the English when you think you've learned and the chance to practice either learning or pronunciation after each of the Spanish.
The books are great, because if you learn like me, they have exactly the same lessons in written format so you can follow along or confirm what you have heard in writing. This has cleared up some pronunciation issues for me.
My only regret with this set, is that the order of the lessons seems to be geared for someone who needs to learn words and phrases a traveler would need first. There are some basics first and then immediately, on the first disc, the lessons go into transportation, hotel, currency, and many other travel related words and phrases. Because you are also being taught some basics and conjugation of verbs at the same time, you really can't skip these sections and come back to them later, or you will miss some of the basics that will be built upon later. So...long story short, as someone who will not be travelling who wants to learn Spanish to help at work and getting along in society, it has frustrated me that I cannot use a lot of what I am learning so far. I can ask where the bus, train, train station, airport and taxi are. I can ask for a one way ticket, how to get a taxi from the airport, and how to get the train from Madrid to Paris, but I can't yet ask for 2 pounds of chicken at the local Mexican grocery store that I frequent.
So...you'll need to be patient. I do like that they alternate a man and woman doing the English and Spanish and then vice versa on the next lesson. This exposes you to different pronunciations and voices and keeps the boredom at bay.
I do recommend this set as a starter, but I will also be buying another to see if I can find something better.
Muy Bueno!.......2007-09-12
I love these CDs and highly recommend them. They are so helpful with conversational Espanol. I've learned so much!
Great set..........2007-08-12
A must have for the busy person who needs to learn another language in a short period of time...
Good Value for cost.......2007-08-09
I've taken 2 yrs of high school Spanish so this was a great refresher.
It has been about 15yrs since I was in high school. If someone is trying to learn by JUST a cd set; it is pretty unrealistic. You should also be using books as a supplemental since most people learn by hearing and seeing. I am happy with this cd set though because it is very much like listening to a teacher in class and for very little cost.
Product Description
Now in its sixth edition, Daytrips Germany has long been a favorite guidebook for adventurous travelers who prefer to make theor own tours. This latest revision covers the tremendous changes taking place, especially in Berlin and the East. Each of the 60 one-day adventures is complete with a do-it-yourself walking tour, a map, full travel directions, time and weather considerations, restaurant suggestions, background information, and concise descriptions of all worthwhile sights.
Customer Reviews:
Excellent book.......2007-10-07
I purchased three books prior to our trip to Germany. This was by far the best for what we wanted to do. We were in Heidelberg for work, and had to stay fairly close, so the ability to plan day trips to other cities was perfect for us. The directions were clear and almost always completely accurate.
Daytrips Germany.......2007-08-12
Useful but boring, the same format over and over. The 2002 edition I just received is really out of date. Maps are less useful since part of the print becomes part of the binding. Rick Steve's book, Germany and Austria 2007, is so much more enjoyable to read.
Fantastic memories.......2007-08-05
We, my wife and I, found the daytrips very informative.How else would we have found the famous "Rauchbier" in Bamberg? It alone was worth the price of the book. We went to several of the trips explained in the book during our three week stay in Bavaria. I will definitely take it again if we can make another trip to Germany.
Everything you need to know about Germany........2007-06-20
We took 3 travel guides with us on our tour of Germany and this is the one we used the most. It has everything that you need to know. What trains to use, what to see, how to get there, where to eat, where to stay. As a first time traveler to Germany we found the info in this book useful and easy to use. I highly recommend it!
Daytrips Germany.......2007-05-11
Unfortunately this book arrived after I left for my trip so I didn't do me any good at all. It would have been handy however.
Book Description
Jeff Hartman. Drawing on a wealth of knowledge, experience, and a background of more than 1,000 magazine articles on the subject, engine control expert Jeff Hartman explains everything from the basics of engine management to the building of complicated project cars.
Customer Reviews:
Information Goldmine.......2007-10-09
Personally, I think everyone who owns a car should read this book, or at least the key early sections detailing the process by which your car's computer controls the engine and reacts to internal and external stimuli. If you didn't know the material before, look under your hood before and after reading the book and you will sense a dramatic difference as what looked like a mess of wires and tubes and sensors will have assembled itself into a cohesive system designed to make your engine operate and tune itself, rather than simply to confuse anyone without a mechanic's degree that wants to take a wrench to it.
As some have pointed out, anyone who wants plug-and-play numbers for specific cars and states of tune will be disappointed by this book, but reading this book will give you the knowledge you need to find or create that information for yourself. If you're interested in learning and applying your knowledge, this is your book. If you're interested only in the end product of your specific car going fast and will get impatient with having to digest and apply theory, this is not your book, but really, if that's your only goal you are probably better off taking your car to a speed shop than attempting the work yourself. If you want to at the very least feel less helpless when you take your car in to the mechanic and at best create your own engine management system (including building your own intake manifold!), this book is a fantastic place to start.
Btw, despite my 5-star rating, it does have its flaws. Some things are repeated--some ad nauseam--and it seems clear that this book was written in sections that the author didn't necessarily see as segueing into each other, or perhaps even originally anticipate appearing together in the same text. None of this seriously detracts from the information in the book, which is after all the point, so it didn't affect my rating, but you will likely notice.
The ultimate guide........2007-09-02
It doesnt get any better than this! Another "Motorbooks workshop" series book.Its 270 pages in colour that explains in great detail engine management systems.
There is at least one fault,its a bit too technical for some people but its still a great book.
There are plenty of diagrams and photographs throughout.If you are building a street machine or hot rod and want to consider EMS instead of carby engines this book will explain it all.
Does not cover engine Management System tuning.......2007-08-28
This book is a great book for overview if you never knew how a car works. It's a great book for basics and has several projects that are glossed over. Its' got lots of great photos.
Not one place does the book talk about Engine Management tuning. Fuel Maps, Ignition maps, what you are looking at, what they mean, basics like adjusting the 2bar spark map for turbo, etc... It talks a lot about history and products but does not cover what it says it does which is the actual engine management tuning. I strongly suggest looking elsewhere for a book if you actually plan on doing some ECM tuning or EMS tuning, this books does not even get you started on how to do it, it has lots of photos and history so you can sound like you know what you are talking about at the next car show, but nothing there to get your hands dirty.
good for beginners not wanting to actually do tuning but understand the management systems.
THE BOOK on EMS systems.......2007-07-14
this book is detailed enough in its explanations that a programmer could write his own engine management system. It is good to the point that if you own one of the many project cars mentioned you should buy this book. The author obviously knows a LOT about engine management systems. If you ever worried about the specifics such as proper ignition timing or what the best AFR would be in situation x , this book is the answer. There is no reason to make this review lengthy, the book is very good. I am very picky about my books, I wont even buy one if it's amazon rating is under a 4, and I think this book is great.
Gearhead to Gear-Geek.......2007-06-13
I enjoyed the book. I found it very helpful in understanding the elements of an engine management system. I wanted to better understand my car's brain and decide whether I wanted to tinker with its software or not.
My next step is to look into programming software packages and programmer units- thanks to reading this book, I feel good about taking the next step: brain surgery on a supercharged iron beast.
Book Description
An economist's version of The Way Things Work, this engaging volume is part field guide to economics and part expose of the economic principles lurking behind daily events, explaining everything from traffic jams to high coffee prices. The Undercover Economist is for anyone who's wondered why the gap between rich and poor nations is so great, or why they can't seem to find a decent second-hand car, or how to outwit Starbucks. This book offers the hidden story behind these and other questions, as economist Tim Harford ranges from Africa, Asia, Europe, and of course the United States to reveal how supermarkets, airlines, and coffee chains--to name just a few--are vacuuming money from our wallets. Harford punctures the myths surrounding some of today's biggest controversies, including the high cost of health-care; he reveals why certain environmental laws can put a smile on a landlord's face; and he explains why some industries can have high profits for innocent reasons, while in other industries something sinister is going on. Covering an array of economic concepts including scarce resources, market power, efficiency, price gouging, market failure, inside information, and game theory, Harford sheds light on how these forces shape our day-to-day lives, often without our knowing it. Showing us the world through the eyes of an economist, Tim Harford reveals that everyday events are intricate games of negotiations, contests of strength, and battles of wits. Written with a light touch and sly wit, The Undercover Economist turns "the dismal science" into a true delight.
Customer Reviews:
dry wit and real world examples make this a mostly enjoyable introductory course in economics.......2007-10-07
Harford offers us an introductory course in economics with a dry wit and lots of interesting, real-world examples. There are a few dry stretches (such as the extensive treatment of agricultural land prices), but the book is mostly engaging and some parts are very entertaining. For example, Harford's treatment of price targeting and how supermarkets and Amazon have used technology to target customers is intriguing and fun. I also found the treatment of stock valuations insightful. In explaining the reasons that poor countries stay poor, he tells quirky (albeit disheartening) tales of his time in Cameroon. It isn't quite as fun a read as Freakonomics, but it does a better job of teaching fundamental economic principles. (Freakonomics shows that economics can be interesting and can answer questions you wouldn't expect it to; The Undercover Economist shows that economics can be pretty interesting and answer fundamental questions that you would expect it to!)
Harford is refreshingly aware of the weaknesses of the free market but does a solid job of characterizing its strengths. Sometimes the analysis is simple (the history of China's recent development, for example) and may miss important points. The key to remember is that Harford is teaching basic principles with a great deal of explanatory power but not with _all_ explanatory power. Take away the principles from your reading, but don't treat the analysis of a given application as definitive.
Relative to a similar volume, Landsberg's Armchair Economist, this is more enjoyable: Harford relies more on real-world examples and empirical research (not entirely, but more) than does Landsberg with his hypothetical scenarios, although I also enjoyed Landsberg. (I guess this isn't surprising: would you rather shadow an Armchair Economist or an Undercover Economist? The answer is clear!) I have yet to read some of the others, such as Naked Economics (I'd rather _not_ shadow a Naked Economist, given most economists I know) or Discover Your Inner Economist.
Robert Ian MacKenzie does a good job reading the unabridged audiobook, which consists of nine compact discs.
Much better than Freakonomics indeed!.......2007-10-04
I've read a number of "popular economics" books recently, and Tim Harford's is my favorite by far! His writting is witty and very much to the point.
flawed.......2007-06-11
Yes it is well-written. Yes it enlightens people ignorant re: economics like myself.
Unfortunately, anyone who bothers to match up his premises and conclusions will find gaps - no matter how rational and convincing the writing seems. There is a strong and obvious bias, especially at the concluding sections of each chapter, which diminishes the value of almost anything he says. At least I know what the issues are now, but from his writing I can't depend on Harford for unbiased data.
A clear, enjoyable, and educational read.......2007-06-11
The strength of this book is that Harford explains pretty traditional, mainstream economics in a way that the non-economist can appreciate and realize its importance. With all sorts of politicians and special interest groups touting economic policies to make the world a better place, Harford's book helps us to be better citizens and make informed decisions. And I found Harford to be a pretty engaging writer that made the chapters breeze by.
Most interesting to me with the chapter on health care, which explains why it is so costly and unsatisfactory in the United States with private insurance, and quite frankly, isn't much better in other countries with national health care plans, such as the UK. Harford cites Singapore as an example where patient choice coupled with governmental intervention in the event of extremely costly health care as a system that works, and explains the economics behind it.
Given the enormous discussions on free trade, immigration, health care reform, and effective economic policies for developing nations, Harford's book is quite welcome in neatly spelling out the economic issues and the paths to progress in what I felt was a balanced view of the issues. I'm glad I read it.
CD verson was very insightful and great fun!.......2007-06-06
First I will point out that I never had a course in econ, so that may be part of the reason I found this work to be so wonderful. In the CD version Robert Ian MacKenzie reads the book so that you think some devilish man is taking great delight in revealing to you the wicked ways of how the world works. Trickery and trust issues are a big part of this. The author, through MacKenzie, points out that the difference in a few cents worth of ingredients differentiates a product sold for about one dollar from one, more special, sold for three dollars.
I do agree with another reviewer that the used car argument made by the author is not that tight. But an important concept is being advanced nonetheless.
One of the many good takeaways for me is the economists' notion of truth, wherein the truth is determined by what people do and not what they say. What is important to people is shown by what they freely choose when they have the chance, and may have little to do with what they want their government to do or provide for them.
It clearly is pro-capitalist, and well defends that view. E.g., while not being in favor of harsh conditions, it notes that sweatshops are not the problem but rather a symptom of worse alternatives the workers in a sweatshop have available to them. Sweatshops didn't cause terrible poverty, but even sweatshops make the lives of workers better.
Overall I found this to be great fun to listen to. Intellectually, it is a powerful source of information and ideas to anyone who is not familiar with economics (I can't speak for those who are).
Book Description
“The economy [isn’t] a bunch of rather dull statistics with names like GDP (gross domestic product),” notes Tim Harford, columnist and regular guest on NPR’s Marketplace, “economics is about who gets what and why.” In this acclaimed and riveting book–part exposé, part user’s manual–the astute and entertaining columnist from the Financial Times demystifies the ways in which money works in the world. From why the coffee in your cup costs so much to why efficiency is not necessarily the answer to ensuring a fair society, from improving health care to curing crosstown traffic–all the dirty little secrets of dollars and cents are delightfully revealed by The Undercover Economist.
“A rare specimen: a book on economics that will enthrall its readers . . . It brings the power of economics to life.”
–Steven D. Levitt, coauthor of Freakonomics
“A playful guide to the economics of everyday life, and as such is something of an elder sibling to Steven Levitt’s wild child, the hugely successful Freakonomics.”
–The Economist
“A tour de force . . . If you need to be convinced of the everrelevant and fascinating nature of economics, read this insightful and witty book.”
–Jagdish Bhagwati, author of In Defense of Globalization
“This is a book to savor.”
–The New York Times
“Harford writes like a dream. From his book I found out why there’s a Starbucks on every corner [and] how not to get duped in an auction. Reading The Undercover Economist is like spending an ordinary day wearing X-ray goggles.”
–David Bodanis, author of Electric Universe
“Much wit and wisdom.”
–The Houston Chronicle
From Publishers Weekly
Nattily packaged-the cover sports a Roy Lichtensteinesque image of an economist in Dick Tracy garb-and cleverly written, this book applies basic economic theory to such modern phenomena as Starbucks' pricing system and Microsoft's stock values. While the concepts explored are those encountered in Microeconomics 101, Harford gracefully explains abstruse ideas like pricing along the demand curve and game theory using real world examples without relying on graphs or jargon. The book addresses free market economic theory, but Harford is not a complete apologist for capitalism; he shows how companies from Amazon.com to Whole Foods to Starbucks have gouged consumers through guerrilla pricing techniques and explains the high rents in London (it has more to do with agriculture than one might think). Harford comes down soft on Chinese sweatshops, acknowledging "conditions in factories are terrible," but "sweatshops are better than the horrors that came before them, and a step on the road to something better." Perhaps, but Harford doesn't question whether communism or a capitalist-style industrial revolution are the only two choices available in modern economies. That aside, the book is unequaled in its accessibility and ability to show how free market economic forces affect readers' day-to-day.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
From Bookmarks Magazine
Harford exposes the dark underbelly of capitalism in Undercover Economist. Compared with Steven Levitt’s and Stephen J. Dubner’s popular Freakonomics (*** July/Aug 2005), the book uses simple, playful examples (written in plain English) to elucidate complex economic theories. Critics agree that the book will grip readers interested in understanding free-market forces but disagree about Harford’s approach. Some thought the author mastered the small ideas while keeping in sight the larger context of globalization; others faulted Harford for failing to criticize certain economic theories and to ground his arguments in political, organizational structures. Either way, his case studies—some entertaining, others indicative of times to come—will make you think twice about that cup of coffee.
Copyright © 2004 Phillips & Nelson Media, Inc.
Customer Reviews:
Good Read About How Economics Affects Us.......2007-10-05
"The Undercover Economist" by Tim Harford gives readers an economist's view of many aspects of how the free market works and how it can bring about certain societal conditions.
Topics discussed in "The Undercover Economist" include the power of controlling scarce resources, how supermarkets price goods to maximize profits and confuse consumers, and how inside information affects negotiations.
An interesting chapter Why Poor Countries Are Poor evaluates the role corruption and kleptocracy play in keeping poor countries poor. Harford points out that corruption is not only unfair, but it's also ineffective at distributing resources and growing a country's economy.
As one resident of a poor country notes, even if the country receives massive financial aid to improve infrastructure, it doesn't matter, because the dictators tend to pocket the money. And, what is actually spent on infrastructure is often wasted.
Harford writes: "Development projects are often commissioned by people with no great interest in success but a great interest in bribes and career advancement. If the effectiveness of the project is a minor consideration, then it can hardly be a surprise if the project does not deliver on the publicly announced aims, even if it has delivered on the real aims of enriching bureaucrats." [Unfortunately, this is happening more and more in America today due to the growth of earmarks, where politicians set aside government investment for specific projects. These projects benefit cronies who in turn support the politicians.]
People have little incentive to get an education in a corrupt country, because people don't receive jobs based upon meritocracy. Jobs are given to political cronies. Governmental institutions then become dysfunctional. The institutions tend to become more corrupt. The lesson: institutions do matter, and an objective rule of law is crucial to a country's economic well-being. The citizens of a country ultimately pay for political corruption.
"The Undercover Economist" devotes one chapter to understanding what happened during different government auctions of cellular radio spectrum, i.e., the right to create cellular networks and thus sell phone service to customers. How the auctions were set up played a major role in determining if the auctions were effective in raising revenue for the government.
Harford compares the spectrum auctions to auctioning off your house, worth $300,000 and receiving either $3,000 or a whopping $2.3 million. The author includes a good discussion of poker and game theory. In the case of the successful U.K. auctions, Harford says economists showed they could "earn their keep."
"The Undercover Economist" argues it's important to set rewards and penalties, so it's in the best interests of people and industries to behave responsibly (we'll just define "responsibly" as meaning what broader society wants). By doing so, Harford suggests economic policies can address major problems not usually considered economic in scope.
For example, Harford discusses how sulfur emissions were reduced by auctioning off the rights to produce a given quota of sulfur emissions. Harford explains: "They [the EPA] set up an auction for the right to emit sulfur dioxide, which causes acid rain. Polluters were given a quota of emission permits and could either buy more permits in the auction or reduce their emissions by shutting down, installing sulfur scrubbers, or buying cleaner coal. When the EPA simply tried to tell them to install sulfur scrubbers, the power generators argued that it would be very expensive to do so, and they lobbied hard to stop the mandatory regulation. Even the EPA estimated that the cost of reducing sulfur dioxide emissions by one ton would probably be in the range of$250 to $700 and might be as high as $1,500. But when the EPA conducted the auction in 1993, very few polluters made high bids. The companies had been exaggerating their costs. By 1996, permit prices had fallen to $70 a ton, and even at that price many polluters were buying cleaner coal or installing scrubbers rather than buying permits to continue polluting. ... The regulators discovered that getting rid of sulfur dioxide was so cheap that few people were willing to pay much for the right to keep producing it."
Harford says economists today could create the same sort of auctions for dealing with greenhouse gas emissions to combat global warming. Through such an auction system, Harford says, we'd quickly learn just how much it really costs to reduce greenhouse gas emissions.
"The Undercover Economist" by Tim Harford is a readable introduction to many aspects of economics and how they play out in everyday life.
The Economist as Detective.......2007-09-19
Ever since the surprise success of "Freakonomics", a flood of economics books for the general public have been published, all trying to cash on the success of that peculiar best seller. According to the principles explained in Tim Harford's book, that is probably a mistake: profits come from scarcity - so further books about `the economics of everyday life' face diminishing returns. And yet, Harford offers several explanations as to why such books may continue to be published: one is that if everyone thinks that economics books are going to be best sellers, an editor who wouldn't publish economics books may lose her job. I'm merely speculating, of course, but this is what happened (with dotcom stocks instead of econ books) to Tony Dye, chief executive of Phillips & Drew (pp. 135-137).
Tim Harford's stuff, though, is worth reading. A regular contributor to slate.com and the financial times, Harford has the gift of explaining complicated economic ideas in accessible language.
Although the comparison to "Freakonomics" is made prominently by the book's cover (which in my version includes an endorsement from Freakonomist Steven Levitt himself, as well as a description as the "elder sibling" of Freakonomics by `The Economist'), `The Undercover Economist' is the better economics book. Freakonomics, after all, doesn't teach too much economics: beyond emphasizing that "people respond to incentives" (an important message, for sure) it answers such questions as whether Sumo wrestlers cheat (They do) and what name should you give your child (It doesn't matter). Harford, on the other hand, explains such valuable economic concepts as rent seeking, externalities and asymmetrical information, and does so in a language that suits both academics and laypeople, with fun examples and a little history of economic though to boot. What more can you ask for in a popular book?
For those with a little knowledge of economics (I have an undergraduate degree in Business Economics) much of it will be familiar. And yet there are enough interesting tidbits that don't make it into your average introductory economics textbook. The chapters about the stock exchange and the application of game theory for auctions were both informative, thought provoking, and fun to read.
For me, the great revelation was the discussion of the environmental effects of globalization. I admit that I have long considered environmental damage to be the most credible counter argument to economic benefits of trade; But Tim Harford makes a good case that that ain't so. "Races to the Bottom" in which countries compete for the worse environmental regulations are unlikely, Harford argues - the advantage in producing "dirtily" is simply not big enough. Rather, Harford shows that protectionism leads to over production, and thus to pollution. And yet, Harford acknowledges that economic growth as such does hurt the environment. And therefore the dilemma of environmentalism or growth is not entirely imaginary - just exaggerated.
There are times when Harford does not raise his opponent's best arguments. In the chapter on free trade, Harford does not discuss various theories of Path Dependencies and learning curve. In the chapter of poverty, he hardly discusses the effects of the environment on economic growth (a major issue in Jeffrey Sachs'The End of Poverty: Economic Possibilities for Our Time), or the questionable legacy of western imperialism. I'm not saying that these are irrefutable objections - quite the contrary - but Harford doesn't quite do them justice.
Still, Harford's book is well written, entertaining, and informative. It targets the economically challenge but has something to offer to all readers, no matter how economically astute.
An excellent treatment of everyday economics.......2007-08-26
I must begin by saying that I liked this book very much. Not to cut suspense, since the review is obviously favorable all along, but just to set a positive tone for the start.
On the surface, "The Undercover Economist" is just another popular economics book, of the kind that is quite common lately (Freakonomics is one example that immediately comes to mind). However, once you finish reading it (paying attention all the way, of course), you realize it presents some relatively deep ideas, explaining them very thoroughly and logically connected pieces from different aspects of economics.
The book begins by a thorough overview of supply and demand, providing simple and befitting examples, both from real life and imaginary. Next, it treats the topic of price targeting (also called "differential pricing") - with really a huge assortment of examples from diverse fields. Then, it explains about free markets and what's good about them.
The connection of market freedom to "finding the truth" is enlightening, and becomes even more so while reading further. The author then moves to more macro-economic topics, discussing globalization and the economic situation in third world countries, such as Cameroon. Finally, he concludes the book with a thorough treatment of the changes in the Chinese economy in the past 30 years. This is the best part of the book, in which all the concepts presented in previous sections come together to explain why the communist system prevailing in China before 1976 failed, and why the gradual freeing of its economy in the years that passed since succeeded on a magnificent scale.
Here are another few topics that I found interesting, in no particular order:
* Why is wine always very expensive in restaurants ? Because one of the big costs in a restaurant is table space. Restaurants would therefore like to charge customers for dawdling, but because they can't do that, they charge higher prices for products that tend to be consumed in longer meals, like wine, appetizers and desserts.
* The story of how the Environmental Protection Agency (EPA) in the USA reduced sulfur pollution problems in the 1990s by cleverly issuing "pollution permits" that factories could buy. This way, the "truth" was exposed - the real costs of pollution reducing equipment to companies.
* Did you ever think about what an "efficient economy" means. Simple. If we can point to a change that could make at least one person better off, and nobody worse off, we (economists) say that the current situation is inefficient. This simple explanation is much deeper than it first appears, as it sets one of the basic rules of free markets - in an efficient market, everyone lives on the margins (excepts of one having scarcity power). If some field is too profitable, more competitors will enter it.
* There is an excellent treatment of the problems with the USA's current health care system that's worth reading, not only for Americans.
* When we bash dictatorships in third world countries, we must keep in mind that not all dictatorships are equally bad. In fact, stable dictatorships damage their country's economy much less than unstable ones. This is because stable dictators expect to stay in power for a long time, and hence don't have an interest to rob the economy too much, because that will reduce from their future profits. Unstable dictators, OTOH, are the worst kind - they just come to power, steal as much as possible and disappear. The author cleverly compared stable dictatorships to biological viruses, that have over time evolved not to kill the host body, but rather to use it in order to feed and reproduce to other bodies.
As I mentioned, I really liked this book. In fact, I think it's one of the best popular-economics books I've ever read. It is very highly recommended.
Powerful and fun!.......2007-08-08
Who said that economics was boring?
Tim Harford, a young English economist, has written a splendid book, probably the best I have read of its kind, about the application of the basic economic principles to little things. This book is for anyone with common sense ---even economists--- who want to better understand the world we live in.
The analysis is rigorous and consistent, yet simple and fun. In a natural way, Harford reaps the rewards of almost 300 years of economic doctrines to explain how things work, why frequently they fail to work properly, an what can be done to fix them.
Setting "good economics" at the service of anyone who wants to learn from it, the author explains with a clean logic why freedom and trade probably are the main pillars of modern societies. Indeed, it seems that there is not more direct way for achieving sustained economic growth and social development.
Harford emphasizes the goodness of a free market, in which prices give adequate information for efficient resource allocation, but without idolatrizing this system of exchange. In fact the author devotes many pages of the book to explain the serious problems that emerge when imperfections, as the lack of competition, the presence of externalities, information asymmetries, and inadequate institutions, are important.
Current affairs as corruption, poverty, globalization, environmental problems, and the emergence of China are analyzed with good detail under the magnifying glass of the "undercover economist", who always offers a fresh perspective of the problem and an opportune remark. If these remarks were listened by at least some of the people that actually takes policy decisions, no doubt it will deliver some gains to more than one person without taking from any other.... Pure economics!
Econ 101 Deja Vu.......2007-07-21
Not as incisive as all the reviewers seemed to think....that is all those folks in New York and Washington. A nice review of how principles of economics work out in the marketplace. A bit thin on decisions made by individuals. Still, a useful primer for the person who never thought about economics before.
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