Tuesday, April 1, 2008

Freakonomics: A Rogue Economist Explores the Hidden Side of Everything

Whats great about this book is that it will change the way you look at things. Economics, for me, has never been my cup of tea. It is a science much bigger than reaching to Mars, I think. But this book is made for people like me. It is fun reading, all the while using data mining, to prove why things happen as they happen in terms of economics.

Freakonomics Steven D. Levitt Stephen J. Dubner

"Freakonomics: A Rogue Economist Explores the Hidden Side of Everything" is a book by Steven Levitt (University Of Chicago) and Stephen J. Dubner (New York Times). It proves that economics is not dull all time and not all related to finances most of the times. The book's topics include:
Chapter 1: Discovering cheating as applied to teachers and sumo wrestlers (See below)
Chapter 2: Information control as applied to the Ku Klux Klan and real-estate agents
Chapter 3: The economics of drug dealing, including the surprisingly low earnings and abject working conditions of crack cocaine dealers
Chapter 4: The controversial role legalized abortion has played in reducing crime
Chapter 5: The negligible effects of good parenting on education
Chapter 6: The socioeconomic patterns of naming children

Authors ask a lot of hilarious questions like: If drug dealers make so much money, why do they still live with their mothers? or Which is more dangerous, a gun or a swimming pool? or Do real estate agents have their clients’ best interests at heart? or What do schoolteachers and sumo wrestlers have in common? or How did the legalization of abortion affect the rate of violent crime?

The book was first published in 2005 and was a best seller, selling more than 3 million copies till now in around 30 languages. For many people, this book is an absurd book. But for me, this has been a "aha" effect book - nice one time read. Wonderful way of looking at things - it surely turns conventional wisdom on its head.

For more, have a look the book's official site.

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