Freakonomics : A Rogue Economist Explores The Hidden Side Of Everything
(Steven D. Levitt, Stephen J. Dubner)
To begin with, this book is not for the plain dull witted economics student. Economics has long been regarded as a dry subject with not much life with it. Steven Levitt, the winner of the John Bates Clark award for the best economist under 40 has attempted to change all that. In this book, Freakonomics: A Rogue Economist Explores the Hidden Side of Everything; Steven D Levitt, along with co-author Stephen J Dubner, makes the reader ponder the economics in a much real world issue like 'If crack dealers make so much money, why do they still live with their mothers?', rather than plain commentary on fluctuating interest rates. Levitt has proposed a few interesting theories in this book, but as he has admitted, he is not much of a writer himself. So he turned to Stephen J Dubner, who wrote about Levitt in The New York Times. Thus was born Freakonomics. Tying up topics so distant to economics, like the relation between School Teachers and Sumo wrestkers, Levitt closes in on how incentives are so important for the modern life. Cringing a bit to statistics, and a bit of rationalism, the duo has also reasoned out an explanation to the falling crime rate in the US. With impressive research, exciting and thought provoking questions about seemingly obvious stuff, and mixing up diverse mixes to bring the reader to the fundamental economics concept behind the fact, Steven Levitt's Freakonomics is definitely an interesting and a must read.
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