The early 1980s were the most dramatic, colourful and controversial in our modern history. Margaret Thatcher had come to power with a daring plan to reverse Britain's decline into shabbiness and chaos. But as factories closed their doors, dole queues lengthened and the inner cities exploded in flames, would her harsh medicine rescue the Sick Man of Europe - or kill it off? Evocative, surprising and gloriously entertaining, Dominic Sandbrook's new book recreates the great turning point in Britain's modern history.

In the early 1970s, Britain seemed to be tottering on the brink of the abyss. Under Edward Heath, the optimism of the Sixties had become a distant memory. Now the headlines were dominated by strikes and blackouts, unemployment and inflation. As the world looked on in horrified fascination, Britain seemed to be tearing itself apart. And yet, amid the gloom, glittered a creativity and cultural dynamism that would influence our lives long after the nightmarish Seventies had been forgotten.

In the early 1970s, Britain seemed to be tottering on the brink of the abyss. Under Edward Heath, the optimism of the '60s had become a distant memory. Now the headlines were dominated by strikes and blackouts, unemployment and inflation. As the world looked on in horrified fascination, Britain seemed to be tearing itself apart. And yet, amid the gloom, glittered a creativity and cultural dynamism that would influence our lives long after the nightmarish '70s had been forgotten.

Britain's empire has gone. Our manufacturing base is a shadow of its former self; the Royal Navy has been reduced to a skeleton. In military, diplomatic and economic terms, we no longer matter as we once did. And yet there is still one area in which we can legitimately claim superpower status: our popular culture.

The world economy defies comprehension. A continuously changing system of immense complexity, it offers over 10 billion distinct products and services, doubles in size every 15 years, and links almost every one of the planet's seven billion people. How can we make sense of this bewildering system on which our lives depend? From the tally stick to Bitcoin, the canal lock to the jumbo jet, each invention in Tim Harford's fascinating new book has its own curious, surprising and memorable story, a vignette against a grand backdrop.