Freakonomics (book)
"Freakonomics" is a bestselling book co-authored by economist Steven D. Levitt and journalist Stephen J. Dubner, first published in 2005. The book presents a unique perspective on economics, framing it as the study of incentives—essentially, the motivations behind people's choices. Levitt and Dubner explore a variety of unconventional topics, such as drug gangs, real estate agents, and even the Ku Klux Klan, to illustrate how economic principles can elucidate complex social issues. They coined the term "freakonomics" to describe this innovative approach, which encourages readers to reconsider commonly held beliefs by applying economic reasoning to everyday phenomena.
"Freakonomics" achieved significant commercial success, remaining on the New York Times Best Sellers list for over two years and selling more than four million copies globally. Its influence extended beyond the book itself, leading to the creation of a blog, a feature-length documentary, and an award-winning podcast titled "Freakonomics Radio." The authors continued their exploration of similar themes in subsequent publications, including "SuperFreakonomics" and "Think Like a Freak." Through their work, Levitt and Dubner invite readers to challenge conventional wisdom and view the world through a new lens.
Freakonomics (book)
Identification: A nonfiction book that uses economic theory to explain a number of social anomalies
Authors: Steven D. Levitt (b. 1967) and Stephen J. Dubner (b. 1963)
Date: Released on April 12, 2005
Steven D. Levitt, an economist known for his quirky approach to economics, met journalist Stephen J. Dubner in 2003 during an interview for the New York Times Magazine. Dubner was fascinated by Levitt’s take on economics. The two bonded quickly, and Dubner’s published article garnered Levitt much attention from New York Times readers. It also caught the attention of publishers who encouraged Levitt to write a book about his ideas. At first, Levitt was not interested; he had little confidence in his writing abilities and did not believe he had all of his theories worked out. After some deliberation, he decided to ask Dubner to help him write the book.
Levitt’s goal was to challenge the conventional knowledge of his readers by using the language of economics to make sense of his ideas. A crucial idea Levitt and Dubner attempt to get across in Freakonomics is that economics can be understood as a study of incentives, the encouragement that drives individuals to make decisions. Expanding on this belief, the authors examine several topics in relation to economics, including drug gangs, real estate agents, campaign finance, and even the Ku Klux Klan. These examples help illustrate their atypical perspective in an area best characterized as “freakonomics,” a term the two invented to summarize their theories. Levitt and Dubner assure their readers that all of life’s obscurities can be resolved when approached from the right angle. The authors attempt to shift their audience’s point of view so they may realize these possibilities.
Impact
Freakonomics was on the New York Times Best Sellers list for more than two years, selling more than four million copies worldwide. The book spawned its own blog on the New York Times website as well as a feature-length documentary and an award-winning public-radio podcast called Freakonomics Radio. In October of 2009, Levitt and Dubner published a second book, SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance. In 2014 the coauthors published Think Like a Freak: The Authors of Freakonomics Offer to Retrain Your Brain, which started out at number two on the New York Times Best Seller List.
Bibliography
Dekker, Erwin, and Paul Teule. "Economics Made Fun, and Made Fun Of: How 'Fun' Redefines the Domain and Identity of the Economics Profession." Jour. of Economic Methodology 19.4 (2012): 427–437. Business Source Complete. Web. 6 Feb. 2015.
Falvey, Meghan. “Weakonomics: Levitt Slinging Soft Old U-Chicago Stuff.” n+1. n+l Foundation, 25 June 2005. Web. 13 Aug. 2012.
Feris, E. G. "Think Like a Freak: The Authors of Freakonomics Offer to Retrain Your Brain." Rev. of Think Like a Freak, by Steven Levitt and Stephen Dubner. Choice: Current Reviews for Academic Libraries 52.3 (2014): 495. Education Research Complete. Web. 6 Feb. 2015.
Levitt, Steven D., and Stephen J. Dubner. Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. New York: Harper, 2005. Print.
Schawbel, Dan. “Stephen Dubner on the Freakonomics Phenomenon.” Forbes. Forbes.com, 30 Jan. 2012. Web. 13 Aug. 2012.