FREAKONOMICS By Steven D. Levitt and Stephen J Dubner      William Morrow 2005 A friend of mine recently asked, “Have you read Freakonomics? It’s amazing!” She pronounced it “a-MAY-zing.” On that note, I bought it, avidly read it, and heartily agree. It’s a wonderful book – literally. It’s not only easy and fun to read, but it’s truly “full of wonder”. As Malcolm Gladwell (best selling author of “Blink”) says on the cover “Prepare to be dazzled.” Steven Levitt teaches economics at the University of Chicago. Gladwell says he “has the most interesting mind in America” – high praise, since Malcolm may well be in second place in that regard. I always thought of economics as the study of markets, business and other technical and dry pursuits. This book is as far away from that as you can get. Levitt explores off-beat topics – thus the name “Freakonomics” – by posing questions and then, using data and statistics, explores and answers them. For example, in the chapter What Do Schoolteachers And Sumo Wrestlers Have In Common?, he looks at the issue of incentives and cheating. We know some students cheat on tests. But why would teachers cheat while administering tests? And under what circumstances? It has to do with incentives. Levitt describes economics as “the study of incentives – how people get what they want or need.” The next issue is how can you prove when teachers cheat? Or why and how sumo wrestlers cheat – what are the incentives and how can you statistically demonstrate that cheating occurs? It makes for fascinating reading. He asks whose interests real estate agents are serving when they sell your house. You’d like to think they’re serving you, the vendor. But are they? And how would you set out to answer that question? Why have rates of crime fallen dramatically since the 1990’s? He lists eight of the usual explanations (e.g. more police, an aging population, a strong economy, innovative policing strategies) and then, using numbers and research findings like a wizard, sorts out which are relevant and which are not. He then offers compelling evidence for another “hidden” factor (think “Roe vs. Wade”.) Making distinctions (e.g. between morality – how we’d like the world to work – and economics – how the world really works), telling stories (e.g. about the life of crack dealers who live with their moms), making surprising comparisons (more people die in boating accidents each year than in airplane crashes), and doing it all in a light, engaging voice (Stephen Dubner’s), this terrific book is a real treat.