Freakonomics Review By Steven Levitt And Stephen Dubner

Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven Levitt and Stephen Dubner is one of those books I oh-so-badly wanted to love.  Levitt is the type of innovative young economist I admire, and his book has been receiving accolade after accolade for several years now.  On paper, I should have loved it, and I think that’s the problem:  Freakonomics is a very good book, but I was expecting exceptional.

An Economist Who Isn’t Any Good At Economics

Steven Levitt bills himself as “an economist who sucks at economics,” which is far to self-deprecating an assessment.  Economics, according to Levitt, is a field possessing exceptionally-effective analytical tools but a dearth of interesting problems on which to apply them.  In fact, according to many critics Levitt’s research isn’t economics at all.  While that may or may not be true, at the least Levitt has cornered the market on the interesting problems.

Freakonomics tackles a series of seemingly-trivial questions that nonetheless often have profound implications for the more “serious” issues of our day.  Why do drug dealers live with their mothers (the average dealer makes less than minimum wage)?  What really led to the mid-90’s drop in crime (it was Roe vs Wade)?  Enlightening though they are, Levitt’s actual results aren’t what’s important here; rather, it’s his ability to turn a seemingly unsolvable problem on its head to reveal novel methods of solving them.

Long On Exposition, Short On Numbers

What little data Levitt chooses to include is compelling, there’s just so darn little of it.  Levitt’s explanations of the data, on the other hand, are often long-winded to the point of being self-serving.  While I found no fault with his logic, per se, I did find his analysis somewhat less-than-rigorous at times.  Were Freakonomics a hefty tome Levitt could be forgiven for glossing over some of the data for the sake of brevity, but the books clocks in at just 200 pages all told;  hardly an epic.  Not that I would have necessarily had Levitt sacrifice the wit for the sake of rigor, but I would have definitely appreciated a deeper look at the data.  You pretty much have to take his word for it when he writes something like “the numbers clearly  illustrate x over y“  if the numbers referred to are nowhere to be found.  I don’t like taking anybody’s word for anything.

Who Should Read This Book?

Anybody with an soft spot for controversial debate or an appreciation for quirky, creative solutions to mundane problems will devour this book.  Certainly claiming that legalized abortion decreases crime at a party will draw plenty of attention, if not always of the positive variety.  Economics nerds like me will also find the book a refreshing respite from the over-serious likes of Milton Friedmam, Adam Smith, and Paul Krugman.  If, on the other hand, you are easily offended or trend more towards the conservative side of the political spectrum, Freakonomics might not be to your liking.

Personally, I very much enjoyed Freakonomics.  It is fun, light, and above-all entertaining look at a few old problems turned on their head.  Still, I couldn’t help being a bit let down when I was finished.  That’s what happens when you have unrealistic expectations, I suppose.

Buy Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven Levitt and Stephen Dubner from Amazon today!