Evaluation of Freakonomics

 Evaluation of Freakonomics Essay

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twelve April 2009

Analysis and Critique of Freakonomics simply by Steven Levitts

Steven Levitts takes an interesting spin in economics in his book, Freakonomics. He uses the tools which might be unique for the field of economics to resolve several outrageous questions that he provides formulated, and despite their very own bizarre nature, Levitts manages to use normal information to substantiate the equally strange answers to the people questions. He begins the introduction with a shocking theory on the cause of the decline in offense in the 1990's: Roe vs . Wade. The kids, who were most likely to be the cause of a rise in criminal offenses, were instead aborted (Levitts 4). With no fear, Levitts flows into the theory that real estate agents happen to be out for their particular incentives, possibly at the loss of their customers. Levitts uses evidence coming from data accumulated in regards to real estate professionals selling their own homes vs . data in terms of real estate agents providing their clients homes to back this kind of theory, and makes a very good disagreement. This is a method to bring for the forefront his point with the advantage of qualified information, or perhaps information asymmetry. His up coming introduction case is money in politics. Levitts uses this kind of example to describe how standard wisdom is normally wrong, as well as the evidence exists in his sort of how funds really is without bearing within the outcome of the political election. Levitts also stresses that even though he truly does mention various concepts usually do not look for a unifying theme as there is not a single.

The first chapter of Freakonomics details what school-teachers and desmazalado wrestles probably will have in common, which in turn turns out to be cheating. Using data from standardized tests and from info collected concerning sumo wrestlers, Levitts verifies that equally school teachers and sumo wrestlers have their reasons for cheating. This individual also discusses the different avenues that can be taken up accomplish this cheating. Levitts primary examples happen to be evidence of teachers changing students' test answers, and sumo wrestlers throwing a meet in turn for a win afterwards. He paperwork in his Reward Materials section that the reference to cheating professors caused more of flood of angry e-mail than did his child killingilligal baby killing lowering criminal offenses theory, but his evidence is audio. (Levitts 252)

Chapter a couple of deals with data asymmetry employing examples of the Ku Klux Klan as well as the aforementioned realtors. The information asymmetry regarding the Ku Klux Klan was in its secrecy of a secret world, while realtors have transact secrets. The Ku Klux Klan was ruined by way of a secrets staying aired on the radio, when market information concerning the internet offers lessened property agents' advantages. He as well touches on how the internet provides affected info asymmetry in other industries as well.

Shedding lumination on so why drug traders still live with their mothers is the basis of Chapter a few. Using data collected by Sudhir Venkatesh, Levitts makes clear how a hierarchy of drug interacting works, and how the retailers themselves do not benefit tremendously. This phase is really geared toward the concept of choosing conventional knowledge with a feed of sodium.

Chapter some is where Levitts gets his probability to give some evidence to his theory on exactly where all the bad guys have gone. This chapter talks about what the well-known excuses happen to be for the drop in crime, including the age of population and the change in the drug markets, and uses evidence to show these types of ideas' flaws. Levitts after that uses record data and correlation to give basis to his theory that abortion's legalization and availability offers caused the drop in crime.

Two chapters happen to be devoted to raising a child in essence. Section 5 relates to the question showing how parents influence their children, and Chapter 6th has to do with exactly what a university child's identity reflects upon his or her parents. Many illustrations are given that explain that children are more affected by elements which include their very own parents ahead of their...

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