After The Crisis, An Economist Reconsiders Cappuccino : Planet Money
In his book The Undercover Economist, Harford adopted this theme for his story about the miracle of cappuccino. But the book was published before the financial crisis. And since the crisis, Harford says, he sees cappuccino — and the broader idea it represents — very differently.
At the time, I was telling a very optimistic message. It was all about how amazing the market was. And I still believe that. But is the world perfect? I don’t think so.
What’s more, the miraculous complexity created by our market economy — the complexity in every cup of cappuccino — has a downside.
