The Hidden Side of Somethings

[dotinthesky]

Steven D. Levitt, Stephen J. Dubner, Freakonomics: A Rogue Economist Explores the Hidden Side of Everything, 2005
According to the authors of this book, Freakonomics is the ability to ask sensible questions about the world and deal with uncomfortable answers. At all times, one most not take any moral stand and simply judge the figures, the conclusion, with impartial eyes. It's philosophy disguised as economics, with a heavy reliance on figures and data to back up the questioning.

Freakonomics is really one theory - that abortion legalization in the U.S. in the 70s caused a drop in crime in the 90s - propped up with other less controversial theories in order to create a tome long enough to be printed and sold. It's still a fairly slim book, a quick read that reflects the lack of support to the ideas inside. That's not to say that the ideas are bad; but there's a lack of meat to the bones, a palpable sense that conclusions were drawn hastily in some instances in order to fit the authors' views. Also, eventhough the book presumes to explore the hidden side of everthing, it's mainly a compilation of questions put forward by white middle-class Americans, curious about abortion, black & white poverty, and the failure of the American education system in some states. Anyone living outside America might find it hard to care, unless they have a passing interest in America (mafioso Sumo wrestlers not withstanding).

Freakonomics is not very useful when investigating the future. There are no predictions in this book about the approaching collapse of the world's financial system, the looming Great Depression that will smack America (and everyone else) in the face. I would have been more impressed if they had tackled this subject.

Comments

[atomic-joe2.livejournal.com]

Sounds vaguely like chaos theory. Maybe on LJ we should create our own thing and call it bonkers theory!

[steer.livejournal.com]

A shame you didn't like it -- I enjoyed the book a great deal.

I guess for me the central thing about the book was not a particular theory in the sense you talk about but a general willingness to apply certain statistical techniques to a class of problems not often tackled formally in that way. Many of his conclusions I found interesting even when I disagreed.

Predictive economics and econometrics is a widely used science -- that would certainly require a book of its own.

[knacker-prince.livejournal.com]

I agree with you, commonpeople.
One substantial (sociological) theory,
and a whole lot of hot air about what an amazing genius the author is - yawn.

[phyrephly.livejournal.com]

Thanks for this review. I had heard a lot about the book but nothing at all substantial. I feel like I get a good picture from this though.

[evil-onna-stick.livejournal.com]

If I remember correctly this book was put together from a series of articles Levitt had written. That was my main criticism, I enjoyed the book, but it felt disjointed. I think if he had a better partner he could have coaxed a unifiying theory or pattern out of the articles and then made it all a little more universal/interesting. It was worth reading, but I'm not sure it lived up to the hype it was getting when it was first published over here.

the final countdown

[idioticpoet.livejournal.com]

FWIW, I really like your tag: "america is not the world"

Also, I'm definitely NOT an economist- however, I think your review/prognostication is pretty much on the money (pun possibly not intentional) and I make it point to read 5-6 financial newspapers/magazines per week. I figure, if you're smart, you'll seek information that the rich and ultra-rich hold in high esteem- therefore, I get the bulk of my US/international news from international sources (as much as possible).