Freakonomics - Outline

Economics - Study of incentive
Incentive - in short, urging people to do more good things and less bad things
                   not come about organically->someone has to invent
Three basic flavors - economic, social, and moral
        Example - anti-smoking campaign(sin tax-economic incentive, banning of cigarettes in
                                                                       restaurant-social incentive, terrorists who sell black-
                                                                       market cigarettes raise money- moral)
       
         Explain economic, social, and moral incentive
 
What was wrong with incentive at the Israeli day-care-center?
        - $3 fine is too small
        -  It substituted economic incentive ($3) for moral incentive  

Levitt, S. D., & Dubner, S. J. (2005). Freakonomics (Rough Cut Edition ed., pp. 19-24). N.p.: William Morrow.

This chapter explain incentive by using some example. I learned three basic flavors of incentive: economic, social, and moral. Therefore, I can apply this substances in real situation. 

Freakonomics-2

I just read chapter 1 of Freakonomics a little bit. This chapter is talking about common things between schoolteachers and sumo wrestlers.
In this chapter, We can find common things between schoolteachers and sumo wrestlers through incentives. The author said that Economics is the sudy of incentives essentially. An incentive can be a bullet, a lever, a key to change situation. Simply put, an incentive is a measure to persuade people to do good things. Also, someone-an economist, parents, or a politician-has to invent incentives.Economic, social, and moral are three basic flavors of incentive.    

Reading impressions 1 : Freakonomics

We started our extensive reading. I chose Freakonomics. I have finished to read introduction part.

This chapter includes information of authors and why they decided to write this book.
I think this book explain complex and difficult economics very easily. For example, chapter 1 is talking about what schoolteachers and sumo wrestlers have in common. This book explains economics easily by using this subject. 

I have very little understanding of economics, but I will be familiar with economics because of this book.