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As per the economic grounds people strive to get what they really need or want. The situation becomes even more complex when the same thing is required by different individuals. These points are robustly communicated through cynical insight and storytelling. Since Steven D. Levitt has expertise in studying daily life riddles therefore he is able to consider the influencing aspects of cheating, parenting, crime and sports differently (Levitt). In Freakonomics he has reached to certain conclusions which are contradicting to the conventional economic theories. Levitt and Dubner have comprehensively explored the inside operations of crack gang. Moreover, they revealed the furtive characteristics of Ku Klux Klan. I have found the description of Real Estate Agents most interesting as it indicates the importance and power of information. The authors have explicitly explained that how the experts of different fields can actually maneuver the common people who have comparatively less knowledge in the areas of specialization. Furthermore, the discussion about real estate codes, for instance, ‘well maintained’ is very exciting.
The book relates to different economic concepts that we have learned already. In the discussion about ‘Drug Dealers living with their Moms’ authors have described the fundamental economic concept of supply and demand (Levitt). For instance, they argue that the demand of job services primarily depends upon different factors including unpleasantness of the job and the specialized skills. Since a prostitute has to work in comparatively more unpleasant situations while having all the specialized skills therefore she earns fairly more than a typical architect. This is also influenced by the fact that an architect can hire a prostitute which actually increases their demand whereas a prostitute cannot employ an architect (Levitt). This in fact decreases the supply of architect services in comparison to prostitutes. Market is another important
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He becomes a professor in an American liberal college that deals with art. In the book, the author uses the ideologies of Wu Wei and Wu Bu Wei to the contemporary way of life. This preface to antique Taoism displays itself in the book in cheerful and witty manner.
Various statistical data suggest that more than 11 million prescriptions for antidepressants were made in 2002 itself for children and adolescents in the US. Evidence also shows that about 2.7 million prescriptions were for children under 12.
Yet, unlike most economics books, it does not contain graphs or vague explanations of inflation, taxes and the market. It does, however, provide good background on how economics work in daily life. Perhaps, what makes Freakonomics so successful is not that it provided answers, but rather, because it asked the right questions.
that which is deemed the most certain of them, mathematics; without much impairing, generally indeed without impairing at all, the trustworthiness of the conclusions of those sciences. An apparent anomaly, the explanation of which is, that the detailed doctrines of a science
The third part focuses on the confused roles of bright minds and the misuses of the press’ democratic rights.
In the fourth part, the author states his disapproval to both socialism and democracy. The fifth part
Graff always found himself arguing about sports as opposed to his colleagues who were discussing Chemistry at that time (Graff, 2001). This results to Graff’s argument that sports presented more intellect than school
While in these schools Alfred demonstrated an aptitude in mathematics and therefore achieved the rank of Second Wrangler in the 1865 Cambridge Mathematical Tripos (Marshall & Palgrave Connect, 2013). Marshall abandoned physics and switched to philosophy after