Eco­nomics an­swers!

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Ti­tle: Freako­nomics: A Rogue Econ­o­mist Ex­plores the Hid­den Side of Ev­ery­thing Au­thor: Steven D. Le­vitt and Stephen J. Dub­ner Pub­lisher: Wil­liam Mor­row Pages: 242 Price: $8.00

Freako­nomics has proved to be the most un­con­ven­tional stance on so­cial is­sues. Le­vitt and Dub­ner have lifted eco­nomics above mere for­mu­las and num­bers and treated it as the study of in­cen­tives which is at the base of ev­ery hu­man action and re­ac­tion. The au­thors have tried to es­tab­lish that eco­nomics tells the ac­tual work­ing of hu­man life on the ba­sis of in­cen­tives. This has been done by an­swer­ing ques­tions like whether read­ing to young chil­dren reg­u­larly will have any ef­fect on their aca­demic ca­pa­bil­i­ties and even more se­ri­ous ones like the link be­tween le­gal­iz­ing abor­tions and reduced crime rates, the myths of real es­tate agents and cam­paign fi­nance.

Apart from the is­sues of life and death, the ba­sic knowl­edge of eco­nomics has also been ap­plied to freak­ish qual­ity ques­tions like which is more dan­ger­ous, a gun or a swim­ming pool? Or, why do drug deal­ers still live with their moth­ers? How par­ents re­ally mat­ter? The book for its rel­e­vance to ev­ery­day life and use­ful anec­dotes has earned a place on best­seller lists

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