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The Logic of Life PDF ´ The Logic ePUB ´

Life sometimes seems illogical Individuals do strange things take drugs have unprotected sex mug each other Love seems irrational and so does divorce On a larger scale life seems no fairer or easier to fathom Why do some neighborhoods thrive and others become ghettos? Why is racism so persistent? Why is your idiot boss paid a fortune for sitting behind a mahogany altar? Thorny questions–and you might be surprised to hear the answers coming from an economist But Tim Harford award winning journalist and author of the bestseller T he Undercover Economist likes to spring surprises In this deftly reasoned book Harford argues that life is logical after all Under the surface of everyday insanity hidden incentives are at work and Harford shows these incentives emerging in the most unlikely places Using tools ranging from animal experiments to supercomputer simulations an ambitious new breed of economist is trying to unlock the secrets of society The Logic of Life is the first book to map out the astonishing insights and frustrating blind spots of this new economics in a way that anyone can enjoy The Logic of Life presents an X ray image of human life stripping away the surface to show us a picture that is revealing enthralling and sometimes disturbing The stories that emerge are not about data or equations but about people the athlete who survived a shocking murder attempt the computer geek who beat the hard bitten poker pros the economist who defied Henry Kissinger and faked an invasion of Berlin the king who tried to buy off a revolutionOnce you’ve read this quotable and addictive book life will never look the same again


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    I've been trying to increase my understanding of economics lately and have found myself reading a lot of books like this one From 'The Undercover Economist' to 'Freakonomics' I feel a lot informed about the world but also better equipped to view my surroundings from new perspectives This book is no exception Harford has a knack for delivering complex information to the everyday reader in an entertaining way Most importantly he deals with issues that are relevant to the average person's life while making his main point that the decisions we make are essentially rational By rational Harford means rational people respond to incentives With this assumption he's able to flush out all kinds of interesting and sometimes scary incentives to which humans respond Additionally Harford claims that we respond to incentives that go beyond mere monetary considerations to our everyday decisions ie sex neighborhoods race culture and so on Basically anything that has a consequence can also be an incentive It's at this point that Harford says rational choice theory becomes controversial because it enters the realm of everyday human behavior And for me it is also controversial because I don't think we can call every individual rational in the sense that we all respond to reasonable incentives Obviously we respond to incentives but how logical are these incentives on the individual level? This book is about flushing out what incentives we are responding to in particular situations and as is always the case with statistics an aggregate number that points to a particular incentive doesn't really tell us much about whether a particular individual is responding to that incentive I think the incentives Harford highlights are enlightening and useful but that he should stop short of labeling life logical