Freakonomics - 854 Words

What is Freakonomics? Freakonomics is an interesting book that evokes a thoughtful and provocative analysis of human motivation and modern living. It shows you a common world through a totally different pair of lens. The author uses the raw data of economics to ask imaginative questions while it forces the reader to think cleverly and divertingly of the answers. His approach to economics was done in a very unconventional way- as a smart, curious explorer parallel to Christopher Columbus when he discovered the Americas. There is not one common theme in Freakonomics, instead the book is structured around four essential ideas: incentives are the basis of modern life, conventional wisdom is often wrong, dramatic effects often have†¦show more content†¦The principles of incentives, among the other basic mindsets are all visibly used throughout the rest of the book in solving the various problems presented. In the chapter â€Å"Why do crack dealers still live with their mothers?† these authors examine and compare how a Chicago gang mirrors that of many corporate companies. The authors use financial records kept by the gang to examine the pay system, and use the experiences of a young sociologist that lived among the gang to examine the reasons for joining and working for the gang. What the financial records show, is that the money earned through dealing is concentrated greatly among the top 2.2 percent of the members, much the same as any corporations like Wall-Mart or McDonalds. The ga ng even had its own â€Å"board of directors†, which was modeled off many businesses during the time. Incentives played a key role in the membership of the gang’s lower levels. The incentives of becoming the next drug lord, or the next big seller, were enough to draw members to positions that paid less than minimum wage and involve the risks of jail time and death. Although this would seem unlikely, a closer look reveals that dreams and incentives of these gang members are no different than that of a girl waitressing while she tries to make it in Hollywood. The author’s show the pull of incentives are seen in every aspect of life, whether it be drugShow MoreRelatedFreakonomics Essay1424 Words   |  6 PagesThe book Freakonomics by Steven D. Levitt and Stephen J. Dubner, is designed to pose fundamental questions concerning economics using a variety of imaginative comparisons and questions. Examples of these comparisons and questions can be seen in the list of c ontents, with chapter titles such as â€Å"How is the Ku Klux Klan like a group of real-estate agents?† and â€Å"Why do drug dealers still live with their moms?† Not everyone is interested in economics, but with titles that grab attention, it is almostRead MoreFreakonomics Essay737 Words   |  3 Pagesthe result was Freakonomics, a book that claims to explore the hidden side of everything, using real-life examples such as studies and polls conducted by Levitt to explain how economics is everywhere, that economics is how the world really functions. Through everything from analyzing the inner thought processes of real-estate agents and crack dealers, to predicting the next popular baby names, Levitt and Dubner guide readers to think differently, ask questions, and to use â€Å"Freakonomics† in their dailyRead MoreThesis Of Freakonomics1352 Words   |  6 Pages AP Macroeconomics Summer Homework Seohee Lee Period 5 I) Introduction Book Title: Freakonomics Author name: Steven D. Levitt, Stephen J. Dubner The author Steven Levitt studied economics at Harvard University and MIT. He is primarily known for his work in the field of crime. The title Freakonomics means a study of economics based on the principles of incentives. The title is related to the book since he emphasizes how incentives drive and affect people’s actions. Although this book does not haveRead MoreAnalysis Of The Book Freakonomics 1027 Words   |  5 PagesHailey Carrillo Mrs. Reinhart AP English Language and Composition 3 August 2016 Freakonomics 1. Give the title, author, genre, and date of original publication. Freakonomics is the title of this nonfiction book; it was written by Steven D. Levitt and Stephen J. Dubner. On April 12, 2005, by HarperCollins. 2. What is author’s purpose for writing the book? Write a paragraph summarizing the main argument or purpose. In this unique book, economist Steven D. Levitt and Stephen J. DubnerRead MoreA Critique on Freakonomics, A Nobel by Levitt and Dubner765 Words   |  3 PagesIn Levitt and Dubner’s novel, Freakonomics, they deal with the sensitive subject of abortions in chapter four. During this section, Levitt and Dubner are purposing that the drop of crime is not because of the many popular ideas they address but instead because of abortions becoming legalized. Providing proof to their argument, they list out all the popular ideas that many people believe to be the cause of the drop in crime and then one by one explain why these ideas could not fit into the massiveRead MoreFreakonomics : A Rogue Economist1538 Words   |  7 PagesIn what way are schoolteachers and sumo wrestlers similar? At first, this question might be puzzling, but the answer is provided in the book Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. Freakonomics is the result of a partnership between an award winning economist, Steven D. Levitt, and a journalist, Stephen J. Dubner. The duo decided upon making a book after Dubner was given an assignment to profile Levitt. Dubner realized that Levitt took a different approach to economicsRead MoreFreakonomics by Stephen Dubner and Stephen Levitt1448 Words   |  6 Pagesthe main reason both groups of people try to explain economics in simpler terms is because they both want to make economics accessible to the common person who may not completely understand economics. Another way that my economics class and the Freakonomics book are similar may be a little bit of a stretch, but it works anyway. Both things like to compare completely unlike things that you would never think to pair together in real life. For example, when I first started to learn about supply and demandRead MoreArgument Analysis : Freakonomics 1467 Words   |  6 PagesFreakonomics Argument Analysis: Chapter Three 1. Chapter three, Why Do Drug Dealers Still Live With Their Moms?, expresses an intriguing thought by authors, Steven D. Levitt and Stephen J. Dubner. The Freakonomics authors follow a courageous man, Sudhir Venkatesh, a student at the University of Chicago, in his effort to understand and research the mysterious drug dealing business. Venkatesh first approached dangerous gangs and dealers in Chicago with a simple survey to learn more aboutRead MoreFreakonomics and Misconceptions of Economy Essay1244 Words   |  5 PagesA number one bestseller many say is grasping in amazement: Freakonomics is said to unravel the untold stories of life. Steven D. Levitt and Stephen J. Dubner break common misconceptions of economics by revealing its true science. Freakonomics shatters the view of economics being an arid study of finance and markets. They pull in information to make inferences on past occurrences subtly influence on the present. Freakonomics packs punches with its countle ss number of tables and figures, serving asRead MoreAn Analysis of Freakonomics, by Steven D. Levitt1585 Words   |  7 Pagesnumbers and graphs Levitt takes anomalies within the data to reveal truths obscured. It’s Levitt’s sociological take on economics that has set him apart from his peers with his heavy focus on incentives, choices, and the consequences they have. Freakonomics mirrors Levitt’s method since it’s a collection of stories he has uncovered or read, and the core economic principles are hidden within each story throughout the book, sometimes even in plain sight like how there are exactly as many chapters as