Freakonomics A Rogue Economist Explores the Hidden Side of Everything Ebook ✓ 320 pages Download µ Steven d levitt

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Data and a A Rogue Economist PDF #8608 simple unasked uestion Some of these uestions concern life and death issues others have an admittedly freakish uality Thus the new field of study contained in this book freakonomicsThrough forceful storytelling and wry insight Levitt and co author Stephen J Dubner show that economics is at root the study of incentives how people get what they want or need especially when A Rogue Economist Explores the ePUB #187 other people want or need the same thing In Freakonomics they set out to explore the hidden side of well everything The inner workings of a crack gang The truth about real estate agents The myths of campaign finance The telltale marks of a cheating schoolteacher The secrets of the Ku Klux KlanWhat unite I guess some people don't like this book because it's not centered around one theme Instead it's about the seemingly diffuse academic work of one of the authors Steven D Levitt the other author is a journalist Stephen J Dubner Levitt is something of an economist but like a social scientist using the tools of Microeconomics applied to other fields that happen to catch his interest often having something to do with cheating corruption crime etc In the back of the book he mentions how he considers himself a student of Thomas Schelling who is kind of like the father of Game Theory strategy theory except much of a 'man of ideas' than what one might think of when one thinks about game theory today which is much mathematical Anyway as for the book itself I thought it was really great I really like what Levitt is doing as far as using the tools of Microeconomics in other fields One of my intellectual heroes I only have a few is Kenneth Waltz who did the exact same thing in the field of International Relations in the '70's and wrote the seminal book The Theory of International Politics which pretty much the single handedly invented defensive neo realism More generally I think Economics is probably the most formalized of the social sciences and the one to which others should esteem A lot of the Political Science field concerned with both voter behavior and how legislatures work is now pretty formalized as well and I for one think this is a good thing I don't see how anyone could think it's not good unless they athink the scientific method cannot be used to analyze human behavior; or bhave a visceral aversion to mathematical languages Actually I am one of the latter but I at least see the value in having a formalized language to work withAs for the book itself there's some maybe controversial things in there like Levitt did some work that showed that the legalization of abortion in the US Roe v Wade was one of the main reasons that crime in the US dropped in the '90's and continues at the same rates today He stands behind it pretty hardily though and it doesn't seem like he has a moral agenda at all Some might argue that the best writers are those who are best able to disguise their moral agenda but considering he writes about all kinds of not very serious things like how sumo wrestling in Japan is probably corrupt as far as matches go and there's stuff in there about how real estate agents sell their houses for than they sell their customers' houses which may or may not be surprising I really don't think he has a hidden pro life agenda Anyway there's a bunch of stuff in there the book hence the 'freak' in Freakonomics It's well written It's not dry It's written for a lay audience I recommend it Read it and feel the power of social science ;

Book Freakonomics A Rogue Economist Explores the Hidden Side of Everything

Freakonomics A Rogue Economist Explores the Hidden Side of EverythingS all these stories is a belief that the modern world despite a surfeit of obfuscation complication and downright deceit is not impenetrable is not unknowable and if the right uestions are asked is even intriguing than we think All it takes is a new way of looking Steven Levitt through devilishly clever and clear eyed thinking shows how to see through all the clutterFreakonomics establishes this unconventional premise If morality represents how we would like the world to work then economics represents how it actually does work It is true that readers of this book will be armed with enough riddles and stories to last a thousand cocktail parties But Freakonomics can provide than that It will literally redefine the way we view the modern worldfront fl Extremely enlightening Worthy of 15 stars out of 5 This is a book about the world and not about any science in particular It's about learning to uestion the given and see beyond the obvious An extremely useful gift in the misguiding modern worldYeah populistic much too much but neverthless compulsively readable A definite revisit and rereadAs Levitt sees it economics is a science with excellent tools for gaining answers but a serious shortage of interesting uestions His particular gift is the ability to ask such uestions For instance If drug dealers make so much money why do they still live with their mothers Which is dangerous a gun or a swimming pool What really caused crime rates to plunge during the past decade Do real estate agents have their clients’ best interests at heart Why do black parents give their children names that may hurt their career prospects Do schoolteachers cheat to meet high stakes testing standards Is sumo wrestling corruptAnd how does a homeless man in tattered clothing afford 50 headphonescthe modern world despite a surfeit of obfuscation complication and downright deceit is not impenetrable is not unknowable and—if the right uestions are asked—is even intriguing than we think All it takes is a new way of lookingc“Experts”—from criminologists to real estate agents use their informational advantage to serve their own agenda However they can be beat at their own game And in the face of the Internet their informational advantage is shrinking every day as evidenced by among other things the falling price of coffins and life insurance premiumsKnowing what to measure and how to measure it makes a complicated world much less so If you learn how to look at data in the right way you can explain riddles that otherwise might have seemed impossible Because there is nothing like the sheer power of numbers to scrub away layers of confusion and contradictionSo the aim of this book is to explore the hidden side of everything This may occasionally be a frustrating exercise It may sometimes feel as if we are peering at the world through a straw or even staring into a funhouse mirror; but the idea is to look at many different scenarios and examine them in a way they have rarely been examinedSteven Levitt may not fully believe in himself but he does believe in this teachers and criminals and real estate agents may lie and politicians and even CIA analysts But numbers don’tcLevitt had an interview for the Society of Fellows the venerable intellectual clubhouse atHarvard that pays young scholars to do their own work for three years with no commitmentsLevitt felt he didn’t stand a chance For starters he didn’t consider himself an intellectual He wouldbe interviewed over dinner by the senior fellows a collection of world renowned philosophersscientists and historians He worried he wouldn’t have enough conversation to last even the firstcourseDisuietingly one of the senior fellows said to Levitt “I’m having a hard time seeing theunifying theme of your work Could you explain it”Levitt was stymied He had no idea what his unifying theme was or if he even had oneAmartya Sen the future Nobel winning economist jumped in and neatly summarized what hesaw as Levitt’s themeYes Levitt said eagerly that’s my themeAnother fellow then offered another themeYou’re right said Levitt my themeAnd so it went like dogs tugging at a bone until the philosopher Robert Nozick interrupted“How old are you Steve” he asked“Twenty six”Nozick turned to the other fellows “He’s twenty six years old Why does he need to have aunifying theme Maybe he’s going to be one of those people who’s so talented he doesn’t need oneHe’ll take a uestion and he’ll just answer it and it’ll be fine”cThere are three basic flavors of incentive economic social and moral Very often a single incentive scheme will include all three varieties Think about the anti smoking campaign of recent years The addition of a 3 per pack “sin tax” is a strong economic incentive against buying cigarettes The banning of cigarettes in restaurants and bars is a powerful social incentive And when the US government asserts that terrorists raise money by selling black market cigarettes that acts as a rather jarring moral incentiveSome of the most compelling incentives yet invented have been put in place to deter crime Considering this fact it might be worthwhile to take a familiar uestion—why is there so much crime in modern society—and stand it on its head why isn’t there a lot crime After all every one of us regularly passes up opportunities to maim steal and defraud The chance of going to jail—thereby losing your job your house and your freedom all of which are essentially economic penalties—is certainly a strong incentive But when it comes to crime people also respond to moral incentives they don’t want to do something they consider wrong and social incentives they don’t want to be seen by others as doing something wrong For certain types of misbehavior social incentives are terribly powerful In an echo of Hester Prynne’s scarlet letter many American cities now fight prostitution with a “shaming” offensive posting pictures of convicted johns and prostitutes on websites or on local access television Which is a horrifying deterrent a 500 fine for soliciting a prostitute or the thought of your friends and family ogling you on wwwHookersAndJohnscomсSome cheating leaves barely a shadow of evidence In other cases the evidence is massiveConsider what happened one spring evening at midnight in 1987 seven million American childrensuddenly disappeared The worst kidnapping wave in history Hardly It was the night of April 15and the Internal Revenue Service had just changed a rule Instead of merely listing each dependentchild tax filers were now reuired to provide a Social Security number for each child Suddenlyseven million children—children who had existed only as phantom exemptions on the previousyear’s 1040 forms—vanished representing about one in ten of all dependent children in the UnitedStatescOf all the ideas that Kennedy had thought up—and would think up in the future—to fight bigotry his Superman campaign was easily the cleverest and probably the most productive It had the precise effect he hoped turning the Klan’s secrecy against itself converting precious knowledgeinto ammunition for mockery Instead of roping in millions of members as it had just a generationearlier the Klan lost momentum and began to founder Although the Klan would never uite dieespecially down South—David Duke a smooth talking Klan leader from Louisiana mountedlegitimate bids for the US Senate and other offices—it was also never uite the same In The Fiery Cross The Ku Klux Klan in America the historian Wyn Craig Wade calls Stetson Kennedy “the single most important factor in preventing a postwar revival of the Ku Klux Klan in the North”This did not happen because Kennedy was courageous or resolute or unflappable even though he was all of these It happened because Kennedy understood the raw power of information The Ku Klux Klan was a group whose power—much like that of politicians or real estate agents or stockbrokers—was derived in large part from the fact that it hoarded information Once that information falls into the wrong hands or depending on your point of view the right hands much of the group’s advantage disappearsсInformation is so powerful that the assumption of information even if the information does not actually exist can have a sobering effectcIt is common for one party to a transaction to have better information than another party Inthe parlance of economists such a case is known as an information asymmetry We accept as averity of capitalism that someone usually an expert knows than someone else usually aconsumer cIf you were to assume that many experts use their information to your detriment you’d beright Experts depend on the fact that you don’t have the information they do Or that you are sobefuddled by the complexity of their operation that you wouldn’t know what to do with theinformation if you had it Or that you are so in awe of their expertise that you wouldn’t darechallenge them If your doctor suggests that you have angioplasty—even though some currentresearch suggests that angioplasty often does little to prevent heart attacks—you aren’t likely tothink that the doctor is using his informational advantage to make a few thousand dollars forhimself or his buddy But as David Hillis an interventional cardiologist at the University of TexasSouthwestern Medical Center in Dallas explained to the New York Times a doctor may have thesame economic incentives as a car salesman or a funeral director or a mutual fund manager “Ifyou’re an invasive cardiologist and Joe Smith the local internist is sending you patients and if youtell them they don’t need the procedure pretty soon Joe Smith doesn’t send patients any”cConsider this true story related by John Donohue a law professor who in 2001 was teaching at Stanford University “I was just about to buy a house on the Stanford campus” he recalls “and the seller’s agent kept telling me what a good deal I was getting because the market was about to zoom As soon as I signed the purchase contract he asked me if I would need an agent to sell my previous Stanford house I told him that I would probably try to sell without an agent and he replied ‘John that might work under normal conditions but with the market tanking now you really need the help of a broker’”Within five minutes a zooming market had tanked Such are the marvels that can be conjured by an agent in search of the next dealcThey were also a lot richer taller skinnier and better looking than average That at least is what they wrote about themselves More than 4 percent of the online daters claimed to earn than 200000 a year whereas fewer than 1 percent of typical Internet users actually earn that much suggesting that three of the four big earners were exaggerating Male and female users typically reported that they are about an inch taller than the national average As for weight the men were in line with the national average but the women typically said they weighed about twenty pounds less than the national averageMost impressively fully 70 percent of the women claimed “above average” looks including 24 percent claiming “very good looks” The online men too were gorgeous 67 percent called themselves “above average” including 21 percent with “very good looks” This leaves only about 30 percent of the users with “average” looks including a paltry 1 percent with “less than average” looks—which suggests that the typical online dater is either a fabulist a narcissist or simply resistant to the meaning of “average” Or perhaps they are all just realists as any real estate agent knows the typical house isn’t “charming” or “fantastic” but unless you say it is no one will even bother to take a look Twenty eight percent of the women on the site said they were blond a number far beyond the national average which indicates a lot of dyeing or lying or both Some users meanwhile were bracingly honest Eight percent of the men—about 1 in every 12 conceded that they were married with half of these 8 percent reporting that they were “happily married” But the fact that they were honest doesn’t mean they were rash Of the 258 “happily married” men in the sample only 9 chose to post a picture of themselves The reward of gaining a mistress was evidently outweighed by the risk of having your wife discover your personal ad cBut if there is no unifying theme to Freakonomics there is at least a common thread running through the everyday application of Freakonomics It has to do with thinking sensibly about how people behave in the real world All it reuires is a novel way of looking of discerning of measuring This isn’t necessarily a difficult task nor does it reuire supersophisticated thinking We have essentially tried to figure out what the typical gang member or sumo wrestler figured out on his own although we had to do so in reverseWill the ability to think such thoughts improve your life materially Probably not Perhaps you’ll put up a sturdy gate around your swimming pool or push your real estate agent to work a little harder But the net effect is likely to be subtle than that You might become skeptical of the conventional wisdom; you may begin looking for hints as to how things aren’t uite what they seem; perhaps you will seek out some trove of data and sift through it balancing your intelligence and your intuition to arrive at a glimmering new idea Some of these ideas might make you uncomfortable even unpopular To claim that legalized abortion resulted in a massive drop in crime will inevitably lead to explosive moral reactions c

Steven D. Levitt ✓ Freakonomics A Rogue Economist Explores the Hidden Side of Everything Kindle

Freakonomics A Rogue Economist Explores the Hidden Side of Everything Ebook ✓ 320 pages Download µ Steven d. levitt ì ❮PDF❯ ⚣ Freakonomics A Rogue Economist Explores the Hidden Side of Everything ✈ Author Steven D. Levitt &Rogue Economist PDFEPUB #231 Which is dangerous a gun or a swimming pool What do schoolteachers and sumo wrestlers have in common Why do drug dealers still live with their moms How much do parents really A Rogue Economist Explores the ePUB #187 matter What kind of impact did Roe v Wade have on violent crime Freakonomics will literally redefine the way we view the modern worldThese may not sound like Freakonomics A Kindle typical uestions for an economist to ask But Steven D Levitt is not a typical economist He is a much heralded scholar who studies the stuff and riddles of everyday life from cheating and crime to sports and child rearing and whose conclusions regularly turn the conventional wisdom on its head He usually begins with a mountain of Sure this book was a compelling read that offered us all some great amo for cocktail party conversation But ultimately I think most of what Leavitt claims is crap He dodges accoutability with the disclaimer about his book NOT being a scholarly work but then goes on to drop statistics theories and expert opinions These assertions laid he doesn't provide readers with enough information to critically examine his perspectivesUltimately I have a problem with the unuestioned unaccoutable role of the public intellectual Leavitt dances around with his PhD on his sleeve but is never subject to peer review or any sort of academic criticism I think it's irresponsible