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

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