Monday, April 19, 2010

Book Review - Freakonomics by Steven Levitt and Stephen Dubner

If i say Freakonomics was dazzling, amazing, sensational, phenomenal, etc., then that would be an understatement. A question surely arises in our minds that what is Freakonomics?

Perhaps asking a simpler question would help. What is economics? In Levitt's view, economics is a science with excellent tools for gaining answers with a serious shortage of interesting questions. His particular gift is the ability to ask such questions. Getting back to the original question, Levitt says that there is no single or unique theme behind writing this book. Its about asking "freakish" questions which sound intriguing and the solutions are surprising.

Many economists would hardly find Levitt's work as economics at all. But Levitt has profoundly distilled the so-called dismal science down to its most primal aim : explaining how people get what they want or need. He devises a way to measure an effect that veteran economists had declared unmeasurable.

Throughout this book, Levitt stresses upon the importance of data. He understands and explains the raw power of information. He says that given the data, if right questions are asked, the solutions are either surprising or shocking.

There is one thing that is consistent in Freakonomics : Anecdotes. And these anecdotes keep you gripped to the book; they help keep the pages turning; they keep the brain working and above all; they keep the reader euphoric.

Some questions that he asked and the explanation he provided has been in the controversy. But as the data suggests, they are nonetheless true. He was called an ideolouge, a eugenicist, a racist and downright evil. But he is none of those.

I can be certain of one thing after reading Freakonomics : I have started to ask random and weird questions. Well, Mr. Levitt has perhaps put a "thinking hat" on my head.

No comments:

Post a Comment