Book Review on Freakonomics

The book contains applications of economics in every problem that exists and existed in the society. All these applications were logically dealt by Steven D. Levitt and they are compiled by Stephen J. Dubner. The book has six chapters and the title of each chapter tempts the reader to go for it. Levitt always made reasoning unlike other criminologists and experts. The most important difference is that his reasoning is made from facts which no one has even thought to be a data. Best example to be quoted is how Lewitt correlates academic performance of students and their personal circumstances using ECLS data.

The power of incentives has impact in almost every profession. The chapter that proves this fact in this book is ‘What do school teachers and sumo wrestlers have in common?’ The data taken by Levitt is simple and makes readers puzzled when he solves a complicated question. There are also some brain exercises for readers in the form of logical comparisons. One such exciting exercise is finding which class teacher changes the answers after the exam.

In the chapter dealing with drug sellers, the comparison made between the death rate of prisoners and that of drug dealers is annoying. Levitt compares the negative driving force of less capital death rate and $3 fine for late pick-ups in child care centre. Though such a comparison seems to be irrelevant, has similar purpose behind it.

Lewitt applies his economics tools in every possible problem from fall in crime rate to naming a child. Almost all the conclusions arrived in each chapter appear to be flawless as all the data and techniques used for solving are clearly shown to the readers. As the tagline of the book says, Lewitt proves to be a rogue economist who explores the hidden side of everything.