Book – Freakonomics
By Steven D. Levitt & Steven J. Dubner

This was one of those books that I saw in the bookshop and really can’t fully explain why I bought it. It was mentioned in Nick Hornby’s Complete Polysyllabic Spree, but wasn’t one of the books on the list of things I wanted to read after reading that book. I think it was just the recognition that drew me in. It is definitely not the kind of book I would usually read. It is not a novel, but a description of the work of an economist. A long way from my favourite subject ever.

Freakonomics asks a whole range of bizarre questions and answers them using economic theory (about which I understand very little). The greatness of this book is that it is extremely readable and allows the reader to think that he / she actually does understand the economic theories used. Mostly they have to do with incentives. Steven Levitt believes that almost any question about modern life can be answered when the correct incentives can be found to answer them. So the questions “What Do Schoolteachers and Sumo Wrestlers Have In Common?”, “Why Do Drug Dealers Still Live With Their Moms?”, “Where Have All The Criminals Gone?” and “What Makes a Perfect Parent?” all get some form of answer in this book (and, indeed, each gets a whole chapter).

One of the quotes on the cover of the book says, “Freakonomics reads like a detective novel… has you chuckling one minute and gasping in amazement the next” (Wall Street Journal) and this was exactly my reaction to this book. I was so gripped by the astounding findings and suggestions of Levitt’s economic theories that I finished reading this book extremely quickly. Part of that, of course, is Dubner’s writing which is extremely readable (he writes for the New York Times magazine – one of my favourite publications of late – mostly because of, or despite, that damn crossword). The book raises many awkward questions about modern life and is very cautious not to draw judgements about issues (including abortion and crack-dealing) but one of the final comments struck a chord with me (and doesn’t ruin the book, I promise):

“The most likely result of reading this book is a simple one: you may find yourself asking a lot of questions. Many of them will lead to nothing. But some will produce answers that are interesting, even surprising.”

I’m a big fan of questions. Maybe one day I’ll be able to think like Steven Levitt so I can answer some of them…