The Undercover Economist Strikes Back: by far the worst thing about it is the title

Tim Harford's book reviewed.

Tim Harford is perhaps the best popular economics writer in the world. This is both less and more of an achievement than it sounds: less because he has little in the way of competition for the title and more because the reason there is so little competition is that doing popular economics well is very hard.
 
There are other economists who write for a wide audience. By far the most prominent is Paul Krugman, the Nobel laureate and prolific blogger/columnist for the New York Times. Yet while Krugman might have intended to explain economics to the masses when he started his NYTgig, his column rapidly became highly political and he became a polarising figure. In any case, he doesn’t seem to care much about explaining economics in his columns except in so far as doing so helps him to make a broadly political point (usually that the Republicans are wrong and the Democrats should spend more).
 
There are also some commentators on economics, foremost among them Martin Wolf of the Financial Times, who play an invaluable role in helping to frame and explain – and sometimes adjudicate – the important debates taking place at the intersection of economics and policy. Wolf is erudite, well sourced and highly influential but to call him “popular” would be pushing things too far. His columns are dense, difficult things, written in large part with an audience of senior policymakers in mind. If you’re already an economics sophisticate, then you can learn a lot from them. If you are not, they will verge on the incomprehensible.
 
Harford takes a very different tack. He is in many ways most similar to the “two Steves” of Freakonomics – the economist Steven D Levitt and the journalist Stephen J Dubner. The Freakonomics project seeks to make economics accessible, looking at the way that it manifests itself in everyday life and calling out interesting findings from microeconomic literature. The impetus is praiseworthy but the results can be exaggerated, contentious, oversimplified, or just plain sensationalist.
 
Harford, by contrast, keeps his feet on the ground. He has a breezy writing style and an infectious sense of humour – but he doesn’t let himself go further than a sober, conservative economist would be comfortable going. He’s trustworthy in a way that most other commentators on economics aren’t. He is not particularly interested in political arguments or in imposing his views on others – instead, he just wants to explain, as simply and clearly as possible, the way in which the economics profession as a whole usually looks at the workings of the world.
 
Harford, like Levitt, is a microeconomist by training and by avocation; he is most comfortable when faced with questions such as: “Why does a return train ticket on British rail cost only £1 more than a single?” Hence his Undercover Economist franchise: the conceit is that he’s an economist spying on the world, explaining things – and answering readers’ questions – in a way that only an economist would.
 
With The Undercover Economist Strikes Back, however, Harford has taken a leap out of his microeconomic comfort zone. By far the worst thing about it is the title. There is none of the Undercover Economist about this book, unless you include the dialogue style of writing that Harford has perfected in his FT column. And he’s not striking back at anything at all: no entity was attacking him in the first place. Even the subtitle (How to Run – or Ruin – an Economy) is problematic. No one is going to come away from reading this book convinced that they know how to run an economy.
 
Instead, what Harford has achieved with his new book is nothing less than the holy grail of popular economics. While retaining the accessible style of popular microeconomics, he has managed to explain, with clarity and good humour, the knottiest and most important problems facing the world’s biggest economies today.
 
He is no fatalist when it comes to macro: it is important; there are things we know are true; there are things we know are false; what we do can and does make a tangible difference to how wealthy and happy we become. He explains these things in an unprecedentedly accessible way, making liberal use of quotations from The Hitchhiker’s Guide to the Galaxy and Dr Strangelove.
 
By the end of it all, you will understand everything from liquidity traps to the Lucas critique – and your eyes won’t glaze over when reading about such things. Harford has written the “macroeconomics for beginners” book we have all been waiting for; I just wish that it had been published as such, and not as something targeting only Harford’s existing audience.
 
Felix Salmon is a writer on economics and a Reuters blogger
Photograph: Getty Images

This article first appeared in the 09 September 2013 issue of the New Statesman, Britain alone

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Why isn't Labour putting forward Corbynite candidates?

Despite his successes as a candidate, the organisational victories have gone the way of Corbyn's opponents. 

The contest changes, but the result remains the same: Jeremy Corbyn’s preferred candidate defeated in a parliamentary selection. Afzhal Khan is Labour’s candidate in the Manchester Gorton by-election and the overwhelming favourite to be the seat’s next MP.

Although Khan, an MEP, was one of  the minority of Labour’s European MPs to dissent from a letter from the European parliamentary Labour party calling for Jeremy Corbyn to go in the summer of 2016, he backed Andy Burnham and Tom Watson in 2015, and it is widely believed, fairly or unfairly, that Khan had, as one local activist put it, “the brains to know which way the wind was blowing” rather than being a pukka Corbynite.

For the leader’s office, it was a double defeat;  their preferred candidate, Sam Wheeler, was kept off the longlist, when the party’s Corbynsceptics allied with the party’s BAME leadership to draw up an all ethnic minority shortlist, and Yasmine Dar, their back-up option, was narrowly defeated by Khan among members in Manchester Gorton.

But even when the leadership has got its preferred candidate to the contest, they have been defeated. That even happened in Copeland, where the shortlist was drawn up by Corbynites and designed to advantage Rachel Holliday, the leader’s office preferred candidate.

Why does the Labour left keep losing? Supporters combination of bad luck and bad decisions for the defeat.

In Oldham West, where Michael Meacher, a committed supporter of Jeremy Corbyn’s, was succeeded by Jim McMahon, who voted for Liz Kendall, McMahon was seen to be so far ahead that they had no credible chance of stopping him. Rosena Allin-Khan was a near-perfect candidate to hold the seat of Tooting: a doctor at the local hospital, the seat’s largest employer, with links to both the Polish and Pakistani communities that make up the seat’s biggest minority blocs.  Gillian Troughton, who won the Copeland selection, is a respected local councillor.

But the leadership has also made bad decisions, some claim.  The failure to get a candidate in Manchester Gorton was particularly egregious, as one trade unionist puts it: “We all knew that Gerald was not going to make it [until 2020], they had a local boy with good connections to the trade unions, that contest should have been theirs for the taking”. Instead, they lost control of the selection panel because Jeremy Corbyn missed an NEC meeting – the NEC is hung at present as the Corbynsceptics sacrificed their majority of one to retain the chair – and with it their best chance of taking the seat.

Others close to the leadership point out that for the first year of Corbyn’s leadership, the leader’s office was more preoccupied with the struggle for survival than it was with getting more of its people in. Decisions in by-elections were taken on the hop and often in a way that led to problems later down the line. It made sense to keep Mo Azam, from the party’s left, off the shortlist in Oldham West when Labour MPs were worried for their own seats and about the Ukip effect if Labour selected a minority candidate. But that enraged the party’s minority politicians and led directly to the all-ethnic-minority shortlist in Manchester Gorton.

They also point out that the party's councillor base, from where many candidates are drawn, is still largely Corbynsceptic, though they hope that this will change in the next round of local government selections. (Councillors must go through a reselection process at every election.)

But the biggest shift has very little to do with the Labour leadership. The big victories for the Labour left in internal battles under Ed Miliband were the result of Unite and the GMB working together. Now they are, for various reasons, at odds and the GMB has proven significantly better at working shortlists and campaigning for its members to become MPs.  That helps Corbynsceptics. “The reason why so many of the unions supported Jeremy the first time,” one senior Corbynite argues, “Is they wanted to move the Labour party a little bit to the left. They didn’t want a socialist transformation of the Labour party. And actually if you look at the people getting selected they are not Corbynites, but they are not Blairites either, and that’s what the unions wanted.”

Regardless of why, it means that, two years into Corbyn’s leadership, the Labour left finds itself smaller in parliament than it was at the beginning.  

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.