Fun factoids

This is my review of Think Like A Freak by Steven Levitt and Stephen Dubner, the duo behind the Freakonomics and Superfreakonomics books.

This genre is best described as pop-armchair-economics. As someone who is an admirer of all things science and a champion of the scientific method, I can’t honestly recommend these books without coming off as a huge hypocrite.  They provide insufficient facts and flaky logic at times. But to be quite honest, these books are what introduced me to economics in its pure form- the science and art of making conclusions from data.

Like Freakonomics, the book is made up of bite-sized anecdotes that are perfect for reading on the go. The first story is about how thinking out of the box allowed a young man break world records in competitive eating (!). Another interesting one was the need for feedback loops and experimentation in advertising, and how simple observation can take the place of large-scale, potentially costly trials.

They also talk about ‘tricking’ people into saving more by gamifying the process- people were more likely to put money regularly into a lottery than save for retirement.

What I didn’t like was the occasional self indulgence. One story was about how the Freakonomics guys helped the US government catch some terrorists. While it was a clever move, it seems extremely risky and probably something that shouldn’t be in the public eye. They also talk about the concept of opportunity costs by describing their own personal success.

The book is overall a letdown, I expected much more from these two! It manages to be reasonably entertaining and a quick read, though. 3/5

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