Super Freakonomics Review by Joshua Choate
Joshua Choate
Period AM
May 7, 2010
Economics
Miss Alvarez
Book Review
Super Freakonomics by Steven D. Levitt and Stephen J. Dubner, published in 2009 by Harper Collins Publishers. Approximately 219 pages.
Authors: Steven D. Levitt was born on May 29th, 1967. He went to St. Paul Academy and Summit School, later graduating from Harvard University in 1989. He earned a Ph.D. from MIT in 1994 and published Freakonomics in April of 2005. He currently teaches Economics at the University of Chicago and has written over 60 academic publications. Stephen J. Dubner is the co-author of Freakonomics and Super Freakonomics. He is also the author of Turbulent Souls: A Catholic Son's Return to His Jewish Family, and Confessions of a Hero-Worshipper. He went to Appalachian State University and today he teaches in the English Department at Columbia University.
Thesis: The main idea behind Super Freakomics is the notion of taking macro economics out of the picture and focusing on micro economics. This means exploring the economic transactions between people as individuals and not as a whole. For example, the authors addressed subjects such as the interactions between prostitutes and clients, the effect of global warming on people's livelihoods and the flaws of the effects of the health insurance industry on patients.
Summary: Freakonomics offered a different way of viewing its three main subjects: the economics of prostitution, the economic effects of global warming, and the more intimate flaws of the healthcare system. When discussing prostitution, the authors addressed how the demand for prostitution correlates with the supply of people willing to conduct the act, even showing how prostitution itself acts in the same way as a household good. When there is a high demand for it, the supply is relatively scarce or laws prevent it. On the subject of global warming, Levitt and Dubner mentioned how a group of scientists had come up with a more efficient way of reducing chimney size to decrease the amount of C02 in the atmosphere. This new innovation helped to solve the global climate problem in a more tangible and less expensive way. When it came to the issue of health insurance, Levitt and Dubner focused on the conduct of doctors who often had to choose which patients would mean more money for them .
Analysis: Super Freakonomics is an exposé of the types of economics that people are often less willing to address or face. The authors Levitt and Duber expose these issues so that people will be more inclined to come face to face with them. The authors also reveal things to their audience that would otherwise be perceived as unbelievable. One was the story of monkeys being taught to use money. This is a central and pivotal part of their message which is that no matter what the person or species, anyone who uses money uses it in the same way. In their story the monkeys developed the basic knowledge for the use of money and they soon began to discover ways of getting more which led to them reverting to crimes such as petty theft, actual monkey prostitution(on rare occasions) and other illegal monetary transactions.
Reviews: James Altucher from the Financial Adviser says that Super Freakonomics is more a story about people than about new ideas. What drives the people behind these ideas to take conventional wisdom and turn it completely on its head". http://blogs.wsj.com. Aaron Crowe, critic for walletpop.com, says, "I
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