Freakonomics Chapter 1 Summary

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Freakonomics A Rouge Economist Explores the Hidden Side of Everything by Steven D. Levitt and Stephen J Dubner, reveals the true science of economics and breaks the common misconceptions connected to it. Freakonomics dismisses the idea of economics being a study of finance and markets. The title of chapter one, what do school teachers and sumo wrestlers have in common, tells the readers these economists will not be discussing finances. Chapter one explores the idea of economics being the study of incentives. The authors present economic, moral, and social incentives within the chapter. Through the use of some examples, day care centre in Israel, teachers in Chicago, sumo wrestling in Japan and Paul Feldman’s bagel business, incentives are explained

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