Freakonomics

FREAKONOMICS: A Rogue Economist Explores the Hidden Side of Everything

by Steven D. Levitt & Stephen J. Dubner

We tend to see things through our morals and ideals, when everything actually operates based on economic incentives and disincentives. By looking deeply into facts, numbers and statistics, we can uncover many hidden surprises behind conventional wisdoms, and learn how our world truly works. In Freakonomics, the authors Steven D. Levitt and Stephen J. Dubner ask seemingly-strange questions across a range of topics (from crime to parenting), then use data to show that that things are often not what they seem.

In this summary, you’ll learn:
• The vital role of incentives in driving human behavior and why people cheat;
• The power of information and why/how experts exploit information asymmetry;
• The fallacy of conventional wisdom and why they are comforting but wrong;
• How small, indirect and remote causes can trigger huge, unexpected outcomes; and
• What being a perfect parent really means, and how your name may affect your life outcomes.

Who should read this:
• People who’re interested in economics, psychology and sociology
• Anyone interested to learn how the world truly works