“There are three basic flavors of incentive: economic, social, and moral.”–Steven D. Levitt, Stephen J. Dubner
Econ 110 was my favorite class in college–not because I excelled at the subject but because I met my husband there! While interesting, economics did not come easily to me and taking that class convinced me to switch my major from business to English–a decision I am still very happy with! Because of that background, I put off reading Freakonomics for a very long time but I am glad I finally decided to read it.
This is a fascinating book that looks at real life problems and the root of those issues and the incentives involved. The authors assert that economics is simply the study of incentives and how people get what they want. The solutions are often at complete odds with common perceptions. Some of the subjects addressed are the Ku Klux Klan, real estate agents, campaign finance, cheating schoolteachers and much, much more. The authors employ a storytelling narrative that works well and is engaging. If you’ve not yet read Freakonomics, don’t put it off any longer.
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