Wednesday, December 26, 2007

Freakonomics by Steven D. Levitt and Stephen J. Dubner

If you think Economics is for the boring geeks, Freakonomics will be a great book to dispel that myth. Economist Steven D. Levitt is not the typical number-crunching Economics professor (he even self-proclaims that he is poor in mathematics). He posed interesting, if not wacky questions that could be solved using an Economics sense.

There is no unifying theme in this book. Here's a sneak peek:

Introduction: The Hidden Side to Everything
What do Schoolteachers and Sumo Wrestlers Have in Common?
How is the Ku Klux Klan Like a Group of Real-Estate Agents?
Why do Drug Dealers still Live with their Mums?
Where have all the Criminals gone?
What makes a Perfect Parent?
Would a Roshanda by Any Other Name Smell as Sweet?

Although some of Levitt's points are controversial (such as Legalisation of Abortion caused a reduction of crime in America), they have their due merits. Levitt simplifies Economics by emphasising on fundamentals of the subject (i.e. Humans respond to incentives; holding all other variables constant when comparing; causality, etc.)

Refer to the Freakonomics Blog for ongoing wacky questions and solutions.

Overall Rating: 9.5/10

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