Economics is considered to be a dull field of science. The ground breaking theories are put forward at an average age of 35. With huge books and lengthy theories, no one knows how they affect your life. But, Freakonomics is packed with fascinating ideas. This book is a real pleasure to read.
This is a hugely popular book on economics and the application of statistical analysis to every day life, although in a fun way. The authors use economics analysis to point out social trends often opposite to what conventional wisdom is today. This book is very fascinating that put statistics in laymen's terms. It goes fast, and the whole thing is not too long.
How many of us thought there is relationship between abortion access and the crime drop? The author has shown that campaign money has almost nothing to do with who wins elections. He has even looked at how parent name children. (And for all this Levitt cite statistics – I never believed that statistics can be used like this -- is impressive)
Everything-including the cheating habits of Sumo wrestlers, the choice of baby names, the finances of crack dealers, or the likelihood of bagel theft-can be decoded if we study the numbers.
In short, Freakonomics takes on conventional wisdom.
Freakonomics proposes two basic notions: those incentives govern life and that conventional wisdom is often wrong. It’s true that the book does not depend on the model building and analyses that usually make up economic research.
Instead, Levitt’s method is to deploy a behavioral model that focuses on individual decision-making.
Great way to challenge how you look at statistics! Thought provoking and entertaining from start to end.