Tuesday October 20, 2020

Dismal science becomes clearer from the bird's eye view

Macroeconomics. The Undercover Economist Strikes Back, How to Run - or Ruin - an Economy. By Tim Harford. Reviewed by Kathy Foley.

24th August, 2013
Tim Harford: studying the overall economic behaviour of consumers, businesses and governments. Photo: Fran Monks



Did you know the price of a Coca-Cola in the US did not change for 70 years? It stayed at 5c all that time. By comparison, the cost of a cup of coffee rose eight-fold in the same period. There were many reasons for this, not least because Coke was sold in vending machines that only accepted nickels. It was an extreme case of what macroeconomists call 'sticky prices'.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 9 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 5 years ago