-Authored by Steven D. Levitt & Stephen J. Dubner.
As the tagline of the book states “A Rogue Economist explores the hidden side of everything”, Indeed there has been a lot of mining & digging of every facet of life to highlight the hidden economics.
My initial impression of the book was that it would contain too many numerics & statistics in the book like any other economic book or textbook contains. But, I must say, there are minimal numerics and statistics which would not bore a reader. The Freakonomics is an attempt by the authors to get the economical perspective of every incident, every revolution & every phenomenon in the west. The Book is a west centric & brings logic, facts & practicality to the reader.
Through this book review, I will not get the contents of the book out as every chapter carries a surprise element for the reader and hidden dimensions. In the initial chapters, the authors have very beautifully defined economics in a direct & indirect manner. There’s no concrete definition of economics. Renowned economists across the globe have defined the term in a very theoretical way. Many of us might even not understand what economics means. But there is one line which brings a crisp definition of economics as authors state – “Economics is a science of measurement”. I wouldn’t hesitate to state that the authors have defined economics very accurately. In the arena of economics, we tend to measure everything monetarily, numerically, rationally & logically.
One of the key emphasis of the authors in the initial chapters has been on “Incentives” and the way it reflects and influences our daily life. Authors state that “Life revolves around incentives” be it for an ordinary person or a criminal behind bars. Incentive either attracts us or detracts us. Authors have spoken of criminologists, real estate agents, political scientists & various factual incidences with examples & the way they tend to bend the facts. Authors have further mentioned of Cheating school teachers in Chicago and have compared it with various exciting statistics & fun numerics. Authors in this book have also highlighted the National sport of Japan, Sumo wrestling, and have thrown some light on the corruption tactics prevalent in this renowned game & dominance by the elite wrestlers. The authors have not forgotten to highlight the new world of the Internet & how information is correlated with the same. The authors bring in the secrets of “Ku Klux Klans” secrets which was founded during the aftermath of the Civil war by 6 confederate soldiers in Pulaski, Tennesse. The book further discusses the facets of why prostitution carries more earnings than architecture. In the later part of the book, there’s mention on few Judicial pronouncements dealing with Abortion & its impact on the population & the birth rates due to the legalization of abortion. The book doesn’t fail to throw light on Capital Punishment & why it does not deter the criminals. The book discusses the role of New York City Police, Gun Laws, et cetera.
Lastly, the rogue economists discuss and get the fun facts on “Conversion of Parenting from art to science”. There’s also a weird yet fun correlation on what’s more dangerous? Gun or a swimming pool. The book gets the Blacks-whites test gaps & eight things that a child does better in school & eight that don’t.
Shakespeare once said – What’s in a name? The book doesn’t fail to surprise the readers on the Blackest names & whitest names activity in the chapter. One might say, How Racist! But there’s a link to a factual scenario of the Segregation culture still being practiced in the west. Through these comparisons, the economist tries to dwell upon the importance of a parents’ first official act – naming the baby.
Freakonomics in totality is packed with fascinating ideas & weird yet interesting, never thought of Comparisons. The Economists and the book shows the desperateness to prove that economics is inherent in every facet of life. The Book brings stunning data analysis that tends to surprise all the readers and share with their friends & family. Freakonomics is an economics textbook that is riveting, funny & surprising to the adults. The authors have cited brainstorming activities and stats throughout the book which create a sense of suspense. I indeed relished reading the book & yes, is Binge-worthy!
Reviewed by: Harshal Mukesh Desai, Goa.
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