Below is the book review of the Freakonomics by Deepansh Shukla written together by a former editor of The New York Times and a rogue economist namely Stephen J. Dubner and Steven D. Levitt respectively. Note that they together shed light on the unconventional ideas of economics, Ever wondered how unorthodox ways of economic ideas can be highlighted by an economist? This book is a perfect example of a masterpiece which finds economics in some of the most important aspects of life which were not given attention for a very long time by Economist. They operate on the reports they have accumulated and provides empirical formulas to prove his points. This book is a gem for those interested in economics, Motivating us to find our ideas rather than keeping us working on the old conventional ideas of Smith and other economists.
This book is first published on April 12, 2005, and since then the book has sold over 4 million copies in 35 languages and the new editions even have reviews and a question and answer session, ‘The Wall Street Journal’ gave a review that this book is “Genius……. Have you gasping in amazement” meanwhile “The Washington Post”, “The Economist” and “Malcolm Gladwell” all gave a positive review that means it came out as a revelation for a generation of economist.
Stephen J. Dubner was to take an interview of the rouge economist after he won the John Bates Clark Award, When they were in between of the interview, Dubner asked why he has not written a book yet and they ended up publishing a book together.
This book contains 6 chapters focusing to explore the hidden side of everything! The book begins with a chapter, What is common between a School teacher and A Sumo Wrestler. When economist was talking about how to save the world from the shrinking economy, Levitt was exploring the hidden sides, As an Economist he does not just keep his opinions but rather provides the data to support his ideas, After a deep analysis he was able to find a common link between a school teacher and a sumo wrestler,
D. Levitt brings American history into the book talking about the active Ku Klux Klan and compares them to the real estate agents, He emphasis on the benefit of knowing, He projects a case study in which The Ku Klux Klan and The Real Estate agents were in possession of power so they changed the condition according to their needs always benefitting them unless knowledge came out in open through the internet. D. Levitt was just beginning with his unconventional talks as he further moves to talk about Drug dealers living with their Mom’s. In this chapter, he analyses the hierarchy of the people in Drug dealing business and proves the point of Drug dealers living with Mom.
He further explains, where all the criminals have gone? In America and explores the hidden reason behind the decline in the crime rate which was never covered in the mainstream ideas, He analysed the statement that “ More the police, The higher the crime rate’. The last two chapters consist about being a perfect parent, Talking about how names matter to who is a perfect parent by an economist with an economic vision was something very new, parenting counsellors would have never thought this deeply about perfect parenting.
This book moved me a lot as being a humanities student and considering economics to be one of my favourite subjects, I had my unconventional ideas making me feel weird but when I read this book, It helped me realise that original ideas make you who you are and thinking differently does not makes you weird rather special, If these unconventional ideas are giving adequate attention, the problems we face in our economic life which in turn affects our social and political life can be dealt with.
The only critic I have for the book is it covers a small range of topics in the modern era of complicated society, This book could have covered important topics which are not yet given adequate attention, For example- The pets and the emotional and economic evolution of humans. Unattempted topics of real life in economics should be the major focus of us as Economics student as the world suffers and the misery could be ended only when we discover the hidden knowledge. This book can change your whole perspective of thinking about economics and that is what makes it unique and important, If I were to rate this book, I will give it a 5 star out of 5, The author in the whole books tries to motivate us all to explore hidden sides of everything.