Analysis of Freakonomics - A Rogue Economist Explores the Hidden Side of Everything - Book Report/Review Example

 Topic: Freakonomics: Critical Thinking Introduction: Look at a wooden long, ill-formed and unattractive. But the sculptor visualizes a beautiful statue within it. He chisels the non-essential parts from it steadily and finally a beautiful statue emerges. Same is the case with the book “Freakonomics: A Rogue Economist Explores the Hidden Side of Everything (P.S.) by Steven D. Levitt and Stephen J. Dubner(2009). They have converted the seemingly silly topics into a brilliant book that will often rattle the brains of the common reader as well as the intelligentsia. The title of the book itself is so odd that even the computer does not accept it without underlining it in red. The authors have succeeded in infusing life into an uninteresting and dull subject like Economics. They have brought the human touch and have articulated how the subject impacts the day to day activities of humankind individually and collectively. They have selected some of the thought-provoking research topics and this book has seen the light of the day and has created precedent-shattering sales records by demanding world attention. The authors explore the unknown side of everything with rare insight. The common man gets importance in the analysis of various aspects of economics by the authors. They have argued that economics is learning about humankind regarding their day to day dispositions. The authors must own the streak of spirituality in their thinking, for the type of analysis they have done on various topics is not possible without that natural gift. They visualize the pair of opposites in every event and the negative and positive sides. For example, for reaching a particular destination, there are two paths: The royal road of truth and the crooked crisscross road with shortcuts. For aggrandizement of wealth, about which much discussion centers around, the individuals often take to unscrupulous behavior. Often, the well-devised procedures may own the hidden agenda of cheating. The authors have made detailed study of some such cases of frauds in the guise of business ethics. Everything is fair in love and war, but alas not in business dealings! That too when such cheating is done in the name of education, it is the double tragedy for the society. In Chapter I the authors cite and analyze the example of Chicago public school members of faculty who substituted answers in the important tests. Some more examples are given falling in to similar category. Chapter 2 deals with the irregularities that have been accepted as the normal business norms and the unreal state of affairs in the real estate business. Honesty takes the backseat and exploitation becomes the way of life when profiteering becomes the first and the final objective for individuals, organizations and business organizations. Ethical principles are swept under the carpet. The authors’ analysis of the property deals reveals the double standards and how they behave inversely while selling their own homes. The chapter deals mostly with the examples of unfair exploitation taking advantage of the access one has for the insider information. Citing an example relating to the medical fraternity, the authors write “ In a medical study, it is turned out that obstetricians in areas with declining birth rates are much more likely to perform cesarean-section deliveries than obstetricians in growing areas—suggesting that, when business is tough, doctors try to ring up more expensive procedures.”(2009, p. 6) What matters is the capability to outsmart the gullible people when they are in dire straits. Chapter 3 is about drugs. The common misreading prevails all over the world, including America, that drugs-dealer is wealthy. The authors have researched about the economics of working of the drug businessmen in Chicago and have come out with startling revelations. The business in drugs is like the double-edged sword. By social and cultural considerations no one can vote for drugs. It has shattered many families, the lives of thousands of combustible youngsters have gone haywire, they have become directionless and destination-less, crime situation on account of consumption/trade of drugs has worsened, drug dealers have terrorist links, thus adding to the security dimensions of the country. Take any negativity, and it is connected to drugs in one way or the other. The authors write, “Decades of studies have shown that a child born into an adverse family environment is far more likely than other children to become criminal” (2009, p.4) The authors find something more than what is contained in this research-supported assertion. What was the most surprising interesting or eye-opening material? The most surprising interesting or eye-opening material is in Chapter 4. The authors try to establish, on the basis of their research, an important linkage between the legal protection for abortion in America in 1973 and the sharp drop in crimes in the mid-1990s. It is difficult to accept this proposition, notwithstanding the arguments by the authors. They venture to demonstrate that any other explanation has not stood the test on the issue for the fall in the crime rates. The authors are aware of the societal reactions about their research findings on this subject. They admit, “To claim that legalized abortion resulted in a massive drop in crime will inevitably lead to explosive moral reactions.”(2009, p.210)But some negativities cannot lead to a positive conclusion and the contentions of the authors seem prima-facie misconstrued. In Chapter 5 the issues dealt with are simple, barring one important one and that relates to parenting practices. Thousands of texts must have been published, many thousands of scholarly articles must have seen the light of the day on the subject, and yet America is unable to find a tangible solution to this issue that has important sociological bearings and political overtones. Parenting practices are directly related to the increasing divorce rates in America and the problem of single parenting. Live-in relationships are another factor that has impacted the parenting practices. The actions of the parents have direct bearing on the lives and education of the children. Other ancillary issues discussed are the death rates in the swimming pools, name of children that have racial overtones and popularity of certain names which the parents prefer for their children. Would you recommend this material to your friends? Why? I am inclined to recommend this book to my friends and relatives. This is a unique book written combining heterogeneous genres. There are topics that demand serious engagement like economics, drugs, abortion and children upbringing. The topics that would keep every reader interested are about the dangers of drowning of children in the swimming pools in the back yard, which normally are considered as safe areas for the children. The social impact of the names of the children is also interesting. In the course of reading this, did you find out about some other material you would recommend? What and why? In the course of reading this material I am reminded of the books 1) The Animal Forum and Declaration of Third World War 2) The Nine Moods of the Magnificent Manager 3) Reformed Turn Reformers 4) Farewell to Drugs Forever and 3) by HCR Mallya. More information of the books can be had from Amazon. The perspective of this author differs much from the authors under review, on the subject of drugs, management and economics and crimes and reformation of the criminals and other current events. The observations make an interest reading. The readers can make comparisons and draw their own conclusions and as such I recommend these books on offbeat subjects. The plots of the book deviate from the established procedures of thinking and rebel against some of the societal norms. My favorite chapter Chapter 3 is my favorite chapter as it concerns with the lives of the younger generation. When the younger generation of any country goes astray, the country has no future. A drug addict is the greatest liability for the family and the country. In their study, the authors have found that most of the drug dealers do not earn even the minimum wage. Due to the rising unemployment, the young men find the ready employment opportunities in the drug market, without much education or investment; as such they easily take to this career. Such youngsters also function under the protective wings of the leaders of the drug gangs. Conclusion This is not a made-to-order book and it does not hang around a particular genre. The critics of literature need not look out for a common theme, because it is not there. The author rakes interesting questions and answers them in an interesting style. In most of the cases, the answers are authentic and acceptable. He provides surprises comparable to a detective novel. The authors are entertaining but never miss the critical eye on issues under discussion. They stick, not to the established theories, but ground realities fascinate them. They ask a variety of mind-boggling questions and provide answers in the light of their practical experiences and investigations. But some answers appear funny like the linkage that they try to establish between abortion and crime rates. Hope the authors will have ample opportunities to modify this particular observation in the future editions of the book. Everyday life of a common man is mysterious to them and they draw inspiration and theories out them. Many of the existing notions of the readers are sure to get demolished. References Cited Levitt Steven D (Author) Dubner, Stephen J (Author) (2009)Freakonomics: A Rogue Economist Explores the Hidden Side of Everything (P.S.): New York: Harper Perennial Read More