Freakonomics: Un economista politicamente incorrecto explora el lado oculta de lo que nos afecta by Steven D. Levitt, Stephen J. Dubner Summary and Reviews
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Book Reviews of Freakonomics: Un economista politicamente incorrecto explora el lado oculta de lo que nos afecta
Book Review: Multiple-Regression Statistical Analysis Put on a Pedestal
Summary: 5 Stars
Ask most people if they want to understand statistics . . . and they run in the opposite direction. That's too bad because these days anyone who can run a personal computer can perform sophisticated statistical analysis using relatively affordable software like SPSS. Freakonomics may open a few minds by showing that much of what the conventional wisdom is . . . is wrong.Economics has been traditionally focused on writing equations to explain "how things should work" assuming that nothing else changes. That's the rub. Everything else does change . . . and the theories don't work in practice. You've all heard the resulting economist jokes.
Steven Levitt does something that academics don't like anyone to do: He looks for interesting, practical questions and devises simple, straightforward solutions.
His method is usually pretty simple. He looks for patterns by using regression programs and then thinks about what the regressions might mean. That often leads to a trip to some other data, and eventually the correct cause-and-effect pattern emerges. It's like the invention methods of champion tinkerer Thomas A. Edison. Keep trying until something practical works. Fortunately, with today's computers you don't have to wait very long. The biggest challenges are in finding the right data sets, as this book shows through its example of why drug dealers usually live with their mothers.
The book indicts the media and many so-called experts who simply haven't done their homework. As a result, you can spend a lot of time being misinformed by reading the latest Congressional testimony, the latest think-tank study or by watching a talking head debate on television. The lesson: Be skeptical unless you see the data and the analyses, as they are displayed in this book's few examples.
In the book, you will find out how statistics can identify some of those who cheat (whether they are teachers or sumo wrestlers) and how economic incentives slant behavior (how real estate brokers sell their own property versus selling yours). You will encounter a novel argument that Roe v. Wade has reduced the violent crime rate. You'll find an even more interesting argument about how to equate the value of reduced crime to the cost of abortions.
More favorably, there are case studies on how accurate information trumps bad or misleading information to the benefit of us all.
The book ends up on a largely unsatisfying statistical look at nature versus nurture . . . and pretty much dismisses nurture when it comes to child-raising.
So it's a grab bag of topics, mixed with lots of hero worship (by co-author Stephen J. Dubner for co-author Steven D. Levitt).
Why is this book selling so well? I couldn't figure it out. It doesn't have the elegance and relevance of The Tipping Point. It's about statistics, and hardly anyone wants to read about that.
So I asked my wife and younger daughter. They both knew the book was a best seller (obviously it has good media play). They both loved the cover . . . especially the illustration of an apple that when you cut into it reveals an orange. They also liked the title (both finding economics pretty freaky). I nominate whoever came up with that cover concept and title for the best "you can't tell a book by its cover" award for 2005.
So what does Freakonomics have to do with apples and oranges? As best I can tell, Freakonomics has very little to do with those fruits in a literal sense. The metaphor seems to be intended to be applied in two ways: First, you have to compare apples and oranges to the right reference to understand what you are examining; and second, sometimes the cause of something comes from an unexpected source when we peel back the skin of surface reality. If you want more, I discuss some applications of the book in my blog posting for today.
If you already like and know statistics, you can read Professor Levitt's articles instead of this book. If you like "gee whiz" facts about things you don't know much about, this book is for you.
Book Review: Correlation and Common Sense
Summary: 4 Stars
Popular science is a literary area that is undergoing a renaissance. Akin to the explosion in interest in history of the 90s, popular science has provided the 'must reads' of the 21st century. Freakonomics is a books that is destined to join the august ranks of the best sellers of this genre, along with Guns, Germs and Steel, Collapse, Blink and the Wisdom of Crowds.For most people economics is a dimly understood science. It conjures pictures of finance, interest rates, banks and corporations. Whilst these fiscal aspects play a large role, and admittedly many job opportunities for economists, the science itself is much broader. It is essentially the study of how man chooses to live in a world of infinitate want and finate resources. Twinned with advanced statistical study, an enquiring mind and an accomplished writing partner Steven Levitt manages to forge a book that is both a fascininating insight in to academic economics, and an arresting blast to many of our pre-conceptions.
Levitt is seems to be somewhat unaware or unconcerned with the chaos his theories unleash. He is an academic economist, and is unconcerned with politics, political correctness, or the niceties of society. Thus he asserts that sharp reduction in crime correlates and is predetermined by the judgement in Roe v Wade which brought federal sanction for abortions. He demonstrates how the control of information puts experts such as realtors and lawyers in the same 'industry' as members of the Ku Klux Klan. The unifying theme seems to be the shattering of deeply held, but erroneous beliefs, and the 'proving' of alternative factual situations, e.g. the much greater risk posed by swimming pools to children than guns.
Combining Levitt's pioneering economic genius with Dubner's erudite and accessible writing produces a team which exposes many of the commonly held myths, and acts as something of a clarion call for the media, experts, politicians and even the general public to be a lot more responsible and diligent in their pronouncements. They are too often wrong.
Book Review: Not Convinced
Summary: 3 Stars
What a paradox. This book is like the proverbial Chinese dinner, satisfying while you are consuming it but all forgotten an hour later. A bit like reading the management guru of the month - including the heavy self-praise. Didnt spot "one of today's most original thinkers" here and didnt turn my "view of the world upside down". But not a bad quick read. Buy the paperback and chuck it after consumption.Book Review: Good, but overhyped
Summary: 3 Stars
First, this book is well worth a read. The authors present some useful insights on a wide variety of social issues, but they don't try to push them too far - the book is demonstrating what can be done with a methodology, not trying to build a systematic theory-of-everything (or indeed, of anything). Given that, I think that it could have included a little more background on the analytical methods, but perhaps that would have put off parts of the target audience. Secondly, I think it is possible for a book to suffer from too much praise and I think that this is a case in point. Yes, it's a good, thought provoking read which I would recommend to anyone. World changing (as some paper reviews I have seen would suggest) it is not, and if you buy it expecting that, you will be disappointed. Which would be a shame.
Book Review: Good, but not perfect!
Summary: 4 Stars
If like me you've seen all the hype about this book, you'll be wondering is it really as good as everyone says it is? Well, in a word yes. But, only as long as you remain sceptical about some of the opinions and facts that are presented! Overall, some of the book seems to be written for maximum impact rather than accuracy. A very good read nevertheless.
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