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Steven D. Levitt & Stephen J. Dunbar, Freakonomics Chapter 4 summary
Steven D. Levitt & Stephen J. Dunbar, Freakonomics Chapter 4 summary
Steven D. Levitt & Stephen J. Dunbar, Freakonomics Chapter 4 summary
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SuperFreakonomics is a collaboration between Steven D. Levitt a professor of economics at the university of Chicago and Stephen J Dubner an award winning Journalist and author. It is their second book together in the Freakonomics series. There books take a unique view of the world through the eyes of an economist. At first this might sound like a boring idea but it in fact an incredibly insightful one that has led to several different revelations about the way that society works. This paper will analyze and criticize some of the major themes in this book. The introduction of the book gives us an idea of how the authors think. They are witty and funny and have written this book to give a new perspective on issues. That is through the eyes of an economist. The introduction talks about …show more content…
This chapter covers many things starting with how women have been mistreated and discriminated against throughout time. Even in the modern era this is still true. They make the claim that women make less money than men now even though there have been efforts made to decrease discrimination and gender inequality. But even though women make less money everywhere else they still dominate one market in particular, prostitution. The authors use data and interviews with prostitutes in Chicago. This Chapter talks about how the high demand for prostitutes allows the prostitutes to make their own price. Including increasing it during the holiday. This follows the economic principle of supply and demand. Besides this it also address that some women become prostitutes out of cold logic. The market shifts and thus it makes sense to go into an illegal occupation for the payout (Dubner 36). They also give reasoning for things like the general decrease in the price of sex. For example the authors claim that oral sex only costs $40 now because of the increase in premarital sex
SuperFreakonomics, a New York Times Bestseller by Steven Levitt and Stephen Dubner, that tries to explain important and sometimes difficult economic principles, for a non-economist. The book achieves this by incorporating humour, sarcasm and real life statistics to provide a deeper understanding of economics while still using layman’s terms. For the purposes of this paper, we’ll be exploring chapter two of SuperFreakonomics titled “Why Should Suicide Bombers Buy Life Insurance” and we will be breaking it down while relating the information back to the main concepts of McKenzie et al.’s, The New World of Economics.
Brue, S. L., Flynn, S. M., & McConnell, C. R. (2011).Economics principles, problems and policies. (19 ed.). New
A number one bestseller many say is grasping in amazement: Freakonomics is said to unravel the untold stories of life. Steven D. Levitt and Stephen J. Dubner break common misconceptions of economics by revealing its true science. Freakonomics shatters the view of economics being an arid study of finance and markets. They pull in information to make inferences on past occurrences subtly influence on the present. Freakonomics packs punches with its countless number of tables and figures, serving as concrete data to make their assumptions. Levitt & Dubner in the beginning identify the fundamental Latin phrase post hoc ergo propter hoc in the sentence, “…just because two things are correlated does not mean that one causes the other”, due to their entire novel being based on correlation. Freakonomics’ explicit exploration of the hidden side of everything captivate economist with unmentioned inferences backed up with reasoned correlation, linking compelling topics to shatter misconceptions about controversial stories, ending with a brief consensus of economic pattern limitations.
“There is no difference in work in which a women sells her hands, such as a typist, and a work in which a women sells her vagina, as in sex work.” Claims author Lacy Sloan. In today’s society, many people believe that prostitution is an immoral act. It is the world’s oldest profession and because it has been long condemned, sex workers are stigmatized from mainstream society (ProQuest Staff). However, the act of purchasing sex between consenting adults should not be prohibited by the government, but regulated for society's overall best interests. Prostitution is illegal and as a consequence prostitutes are often victims of violence and sexual assault; therefore, prostitution should be legalized and regulated to ensure the safety of sex workers.
21st Century Economics (Vol. 1, pp. 58-59. 163-172. Thousand Oaks, CA: Sage Reference.
Despite its size, only 190 pages, the authors address the basic concepts of economics while also applying those politically and for personal finance decision making. Those basic concepts include scarcity, gains from trade, marginal decision-making, profit management, income growth, and Adam Smith’s invisible hand theories are all discussed within the first part of the book; allowing readers to understanding the concepts, Gwartney applies the same concepts to the creation of wealth and the importance of competition, private property, open trade, monetary stability, and lower taxes. This book educates its audience by evaluating our economy and government mechanisms without the overpowering display of charts, formulas, and graphs; which you would typically see in a textbook allow...
Esselstyn, T. (1968). Prostitution in the United States. The Annals of the American Academy of Political and Social Science, 367, 123-135. Retrieved February 21, 2014, from http://ann.sagepub.com/content/376/1/123.full.pdf+html
Many women became prostitutes as a result of their skills no longer being needed, and they needed a way to provide for themselves. So, women found one aspect of themselves that society told them they could sell. Unfortunately, prostitution was a bleak affair. Occasionally, a woman got lucky and bought her way out of the profession, but she was the exception. Most lived and died in poverty. Furthermore, because of the destructive nature of the profession, most prostitutes grew to be disheartened and disillusioned, many even diseased. Prostitutes were socially ostracized, victims of the gender roles that were placed upon them. Women who lived the life of a prostitute often faced harsh realities, far from the promised lure and attraction of the American
Heilbroner, Robert. "The Economic Problem." The Making of the Economic Society. Englewood Cliffs: Prentice Hall, 1993. pp. 1-15
Prostitution, as stated by Flemming, is known as a form of sexual activity, a kind of sexual style or category, and a form of economic activity, a way of making a living through the provisions of certain services, by behaving in accordance with, or falling into such a category (39). This definition, though, is controversial. While conducting research for this project, we found that most topics regarding prostitution and its affiliates were controversial. Each author gave a differing interpretation for the same data. Due to this, our project centered on the female prostitutes, even though there is evidence of male prostitutes.
Barry, Kathleen. "Prostitution". Boston: Houghton Mifflin, (1998). General OneFile. Miami Dade College. Web. 2 Apr. 2014.
All around present day pop culture, the demonstration of prostitution is regularly seen as questionable concerning many different moral issues. Prostitution could be characterized as "To offer (oneself or another) in sexual intercourse for money,” and is normally given as an underground administration. Although the practice is unlawful in most places,it has been denoted as a "suitable" occupation hotspot for some people throughout the world. Most of the people who do tend to sell themselves to others for money are, for the most part, women. However men do sometime turn the wrong way and end up in the streets confused themselves. Prostitution raises numerous moral issues coming about, because of the corrupting of one's body through offering a sexual administration that is broadly accessible. The typical discussion as to whether this form of “making money” is ethically wrong concentrates on if the corrupting of one's body could really be acknowledged as assault, and if the people who partake in prostitution might be perpetually forced into this calling, whether it be bad circumstances or them just being unwilling to find another occupation.
With prostitution still arising and thriving in present day America the Argument and war waged on it by media has changed from an advocated perspective, to being seen as present day slavery among women. Especially with modern practices of forced trafficking and drugged prostitution. the views have changed from one of a women's private and personal freedom of choice, to one of "the ones who weren't lucky enough to get away from being drugged, kidnapped and forced into slaved prostitution."
Adam Smith is widely regarded as the father of modern economics and one of the greatest economists throughout the course of history. He is mainly famous for a two books that he wrote, these two books are considered thee base and infrastructure of the world of economics. The two books he wrote were, “The Theory of Moral Sentimental” and “The Wealth of Nations”. But although Adam Smith was such a great economic philosopher, he wasn’t a very good foreteller or future predictor. The economic scenario now is very different from the economic landscape of the 1700’s. Giant super-corporations can now govern the flow of the market, unlike Smith’s time’s. Even though elements of Smith’s ideas have changed over time, some of his beliefs remain important factors in economics to this day. One of those truly unique philosophies is the “Invisible Hand”.
Economics is probably the science that arguably has had the most impact in today’s times. In fact it can barely be called a science in a strict sense, since human behavior is not governed by laws of nature unlike other non living objects, which makes the prediction and forecasting stock prices, economic conditions all the more difficult. In recent decades economists have tried to give a more structured and mathematical explanation to their theories concerning how human beings make their decisions. However these theories have come under immense criticism as they don’t hold true in real time. In reality, human beings rarely behave rationally which is the basic assumption in many of the economic theories; rather we make a lot of our decisions based on our intuition and limited knowledge available to us. When the financial crisis of 2008 came upon us, a lot of questions were raised on the apparent predictive abilities of the various economic theories. Merely 12 economists were able to foresee the massive crisis which now shows signs of deepening into a double dip recession.