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Posted on May 7th, 2014, by

Outline

Introduction

1. A fresh look at Freakonomics

2. The Difference between Economics and Freakonomics

3. A Critical Analysis and Discussions of Perspectives Provided in Freakonomics

Conclusion

References


Introduction

Nowadays many people are interested in the true meaning of many events and phenomena in our society. Of course, all people understand that everything is interconnected in our world, but only little part of experts can explain these connections in simple language and easy terms, which would be understandable both to academicians and to ordinary people without grades and scientific awards. Thus, exactly Freakonomics is a kind of books which is able to connect even incompatible data, and to show how one event can influence the other event in one or another way. My choice of Freakonomics was conditioned by several factors, firstly I like economics and to study something new in this area is my hobby; secondly, the book not only explores economic phenomena, but it also connects them with social structure of society, and finally, every book inspires me to do something useful, and Freakonomics is not an exception. In addition, it is impossible to overestimate the importance of the authors’ ideas and arguments relative to macroeconomics because the book explores the connection between seemingly distant events and phenomena, for instance, how a terrorist can grew from an exemplary son, or how legalized abortion reduces crime. Thus, I am going to discuss Freakonomics with all the necessary details in this project.

 

A Fresh Look at Freakonomics

At the beginning, it is important to mention that Freakonomics is unusual and even provocative look of a young economist and dissident at everything that has a place in our society. The book’s authors took the concept of ”˜freak’ for the base of their work; and presented the information in Freakonomics in both extraordinary and interesting ways. According to Kats, freak is a person who does not fit into the framework of the standard of thinking, and it is an active member of society because he is able to challenge the fact that everything is canonized as the indisputable authoritative opinion, and does not want to percept all the facts as ultimo ratio (Kats, 2006).

There is no doubt that the new economy requires a new, unorthodox, innovative look at the things that go beyond the narrow confines of conventional judgment and common views, which only yesterday seemed to be unshakeable, and was considered to be even “Evangelical” truths, but nowadays they are in the way of people’s development.

Moreover, observing Freakonomics from the perspectives of modern life, it is good to add that it is the book about incentives. Society is guided by several stimuli, and the main stimulus is a reward for good work. It can be booth honest earnings and fraud. Thereby, exactly the second form of earnings inspired Steve Levitt to explore the question with more details and to claim that all people lie, beginning with realtors and criminalists, and ending with sumo wrestlers and school teachers.

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