When I first looked into finding this book I didn’t think much of it as I just thought it was just another type of text book or some sort. I was thinking that this would be some kind of auto biography or something I would not be interested in. In fact after reading this book I was stunned by the different views and aspects of economics that was explain and I would had never thought about them in that sort of way. This book covers a lot about we discussed in class. This book explains different examples of economic concepts that may be used in our daily lives. They
Author Wheelan writes, "Life is about trade-offs, and so is economics." Indeed, so is Naked Economics. This book promises to be a good introduction to economics for the layman. Throughout the book, the author uses easy-to-understand language and vivid examples to illustrate his points in strategic places maintaining a sense of lightness with the readers in reading the material. Here is a summary of each of the 12 Chapters of the book Naked Economics: Undressing the Dismal Science by Charles Wheelan.
Freakonomics was one of the best novels that I have ever read! I am truly amazed at how Steven Levitt and Stephen Dubner compared their study and research to the economy that we live in today. Out of all of the chapters in Freakonomics, Chapter 3: Conventional Wisdom, is the one that stood out the most. This particular topic relates to the world in many different ways.
Freakonomics has no one topic. It has many, it challenges you to think more and see there is a reason to why things happen or why people do what they do. Chapter one focus mainly on the study of incentives and how they are pursued. Chapter two focus on information and the way that individuals, organizations, and businesses often exploit their access to crucial information at the expense of
However, Levitt, in the introduction of Freakonomics, declares economics to be a simple “science of measurement” depicting reality compared to and distinct from morality considered as ideals or utopias of that reality. In my opinion this statement underestimates the significance of economic theory in today’s world, is generalised and insufficient. Economic theory and measurements have strong implications, e.g. for the perception of national welfare, and consequently policies and regulations of a country which attributes to economics much more command than a mere supply of information. Furthermore, reality can hardly be described only by numbers since feelings and morality as foundations of our values and beliefs take a large and decisive part in life and our decisions, but can hardly be measured as such. Even the economic system of exchange is not only based on efficiency and quantitative terms but indeed on moral-based conduct as well. Overall, I consider explaining the world by mere measurements and a collection of factual data too simplistic.
After reading Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D. Levitt and Stephen J. Dubner, it opened my eyes to the most interesting approach to the world. The book name in itself is an odd and unique title. It defines Steven Levitt’s irregular approach to the world of economics and makes you “forget your image of an economist as a crusty professor worried about fluctuating interest rates”, says Publishers Weekly. Steven Levitt focuses his attention on relevant everyday life situations that truly are world issues. The purpose of writing Freakonomics is to make the reader aware and convinced that there is a hidden but obvious side to everything, if you just dig deep enough. Throughout the book, Levitt and Dubner make it clear that economics is a “set of tools, as opposed to a subject of matter” to explore any issue, despite if it is quite unusual. The authors do not single out a certain group of people, but it strongly appeals to young adults. The book talks about education, raising children, and buying homes which are all subjects that apply to young adults’ lives. The authors portray an attitude that is an objective tone which appeals to a younger audience because it is seemingly practical and neutral, but also light hearted and amusing. Freakonomics is meant to be fun and captivating rather than strictly boring facts and statements, which is why it draws in younger adults as well as older adults too. Overall, I have found this book to
In America, many people are completely unaware of how much their daily lives are affected by the economy, and vice versa—how much they as individuals can affect the economy. The general public’s ignorance of economics is extremely counterproductive because many problems in this country could be solved if everyone had a basic understanding of economic principles. However, economics can be difficult to understand, and therefore, people tend to avoid the topic whenever possible. In an effort to overcome the confusing nature of economics, Miranda, a twenty-two year old who works in retail and attends college in an effort to achieve a bachelor’s degree in business, will be used as an example. Upon observing Miranda as she goes about her day, it will become clear that several economic principles are at work in her daily life. This application of economics to simple, everyday situations will make economic principles easier to understand.
In Freakonomics, incentive emphasizes Steven Levitt and Stephen Dubner’s unification of disparate chapters and American society. Economic incentives drive people like teachers and criminals to make certain decisions. “...high-stakes testing has so radically changed the incentives for teachers…” (Levitt, and Dubner 23). School teachers’ incentive is to cheat because they do not want be fired or passed up for promotion because of low test scores. Levitt discovers that the different ranks in gangs have opposite incentives. “A foot soldier’s incentive was to make a name for himself; J. T.’s incentive was, in effect, to keep the foot soldiers from doing so” (Levitt, and Dubner 105-106). Foot soldiers start gang wars in the hopes of becoming noticed
The intended audience of Steven D. Levitt and Stephen J. Dubner’s Freakonomics is made up of middle class Americans and comprised of adults and teenagers with a basic education and a broad knowledge of a wide range of subjects. Since Levitt and Dubner reference a large variety of topics, it is imperative for the audience to also be familiar with a wide variety of subjects or at the very least to be aware of popular culture and government. For example, when Levitt and Dubner reference a Supreme Court case, Roe v. Wade, where a young woman named Norma McCorvey was “...the lead plaintiff in a class-action lawsuit seeking to legalize abortion” they establish their audience as one that would be educated enough to know the fundamentals of some of the most important events in American history (Levitt and Dubner 5). By referencing the Roe v. Wade case, a court case which is generally considered to be common knowledge for Americans, Levitt and Dubner reveal that their audience must be comprised of
Chapter six of Freakonomics shows a comparative study done by Roland G. Fryer Jr. He compares children’s first names throughout different decades in California. The study references between black children and white children names, and low income families along with high income families name choices. We also look to see if these names have an effect on the outcomes of these children’s lives.
The book Freakonomics by Steven D. Levitt and Stephen J. Dubner is a book that takes you through facts and statistics that seem reasonable and logical at the beginning but soon they dissect it and show you the true side of the statistic. The whole premise of the book is to show you the “hidden side of everything. (Cover page)” Like how dropping crime rate throughout the 90’s drastically dropped seemingly overnight. This drop was associated with better policing strategies, this idea is great for reassuring the public, but is it really true? Turns out it was probably closer linked to the legalizing of abortion. The authors of Freakonomics throughout the book think outside the box in order to show you
Parenting is an excellent system in how we raise children, but much pressure is added in raising them to live a successful life. Can it be done, and what should a parent do? These are some of the questions that Steven Levitt attempts to give reasons to in his book Freakonomics, and with it are there arguments and theories on how a parent can accomplish this. Levitt makes a good argument in how economic status of the parents affects the success of future children, but I would reevaluate his argument concerning the importance of how you treat your children, and the way his inferences are concrete.
1.In the book, Freakonomics, the authors discuss about a group called the Ku Klux Klan. The KKK was very popular in the nineteenth and twentieth centuries. In the article “27 Important Facts Everyone Should Know About The Black Panthers” by The Huffington Post, a group called the Black Panthers was also popular in the twentieth century. The Black Panthers differ from the KKK in many ways, for example the Black Panthers wore black leather jackets and black berets, opposed to the KKK white sheets and hoods. A major difference between the two group was that while the KKK was hunting down black people, the Black Panthers were trying to protect the black community.Another notable difference between the two groups is that the KKK was aided by the
The book Freakonomics about how there are some mysterious cases about students getting high scores in tests but then score less the next year they are put in a higher classroom. Then the immediate question that comes to mind is why did they score less? No one would think that the teachers would were the ones to blame. THEY cheated. That’s how the video and the book are similar, both talk about the teachers changing test scores to make the school look good. The book Freakonomics says, “ ...she might collect her students’ answer sheets and, in the hour or so before turning them in to be read by an electronic scanner, erase the wrong answers and fill in the correct ones.” The video as well shows that the teachers cheated changing test scores.