Freakonomics

Until 2005, the words 'economics' and 'fun' were unlikely to be found in the same sentence. Economics was seen as a dry, technical, mathematical discipline: the preserve of driven businessmen, greedy bankers and staid Treasury officials. Fun was its opposite: spontaneous enjoyment available to regular people.

The publication of Freakonomics in 2005 changed all that. Steven Levitt, a professor of economics at the University of Chicago, and Stephen Dubner, a New York Times journalist, somehow gave economics popular appeal. So far the book has sold over four million copies worldwide. Last year, a sequel, Superfreakonomics, was published and there is also a Freakonomics blog linked to the New York Times website.

Wherever there's an unexpected publishing hit, you can be sure that a bandwagon will soon follow. In 2007 alone we had Steven Landsburg's More Sex is Safer Sex, Tyler Cowen's Discover Your Inner Economist and Diane Coyle's The Soulful Science. Nor is the fun confined to the paperback stands. Earlier this month there was even an international academic symposium on 'economics made fun in the face of economic crisis' at Erasmus University in Rotterdam.

The film follows the structure of the book with chapters loosely linked by the broad approach of the authors. There is little sense of narrative beyond that. However, one innovation is that different chapters are made by different directors including Morgan Spurlock (Super Size Me), Alex Gibney (Taxi to the Dark Side) and Seth Gordon (The King of Kong).

Freakonomics the movie is worth watching for two reasons. As with any cultural phenomenon, whether it is The X-Factor or Strictly Come Dancing (aka Dancing with the Stars outside the UK), it is interesting to ask why it catches the popular imagination. This is particularly true when the subject matter is – or at least was – widely seen as incredibly dull.

Understanding the approach to economics taken in the film also helps reveal some deeper truths. It shows the limitations of contemporary economics and can even help viewers understand fashionable policy initiatives such as the attempt to 'nudge' people to behave in a particular way.

The first thing that viewers of the Freakonomics movie are likely to notice it that has little time for the traditional subject matter of the discipline. There is no room for discussion of business, supply-and- demand curves, and certainly no mathematics. Instead it covers such subjects as parenting, naming babies, cheating at exams, corruption among Sumo wrestlers and crime. If anything, such topics would normally be classified as sociology rather than economics.

From the authors' perspective, what makes their book economics is their approach to these subjects. Their concerns are unashamedly practical. They want to use economic tools to help improve human behaviour in all these areas.

Levitt and Dubner's mantra, and indeed that of contemporary market economics generally, is that 'humans respond to incentives'. Such incentives are often financial but they can also be moral and social. In each case the authors ask themselves what incentives would work best to improve outcomes:

Is bribing toddlers with M&Ms a good way to potty train them? Should pupils be paid to perform better at school? If so, at what age and exactly how? Does choosing a particular name for a baby improve its life chances? For example, through the choice of name alone, is a Brendan likely to do better than a Deshawn? Both the attractions and limitations of this form of economics should already have started to become clear. The subject matter of Freakonomics relates to everyday interests and concerns. It is about practical questions that confront individuals and parents as well as policymakers.

In many ways it is better seen as a form of self-help than economics in the traditional sense. It is an attempt to find better, supposedly more scientific, ways to improve the behaviour of errant individuals. It says little, if anything, about traditional key economic questions such as how to organise production, how to raise productivity or how to create a more prosperous society.

Although the Freakonomics approach is not entirely mainstream it is not marginal either. Gary Becker, also a professor of economics at the University of Chicago, won the Nobel Prize for economics in 1992 for work on similar questions to those raised in the film. Although his work was not aimed at the general public, his concerns were comparable to those of Levitt and Dubner's.

Even mainstream economics, although more concerned with business than Freakonomics, suffers from many of the same weaknesses. Its focus is largely on individual consumer behaviour, its approach is ahistorical and it has little to say about the process of production.

Freakonomics the film, like the book, is entertaining and sometimes thought-provoking. Although it is more self-help than traditional economics it shares many of the weaknesses of more serious works in the discipline.

Its focus on individual behaviour also lends itself to a preoccupation with manipulating individual choices. That is where Freakonomics becomes truly freaky.

Freakonomics is one of those films that tries to make a complex subject accessible to a mainstream audience. Here, there subject in question is economics, and how it is everywhere. Although trying to reach a wider audience in a fun way we can relate to is admirable, it can't avoid a patronizing tone. Still, there are lots of interesting parts to this documentary. It's split into a number of sections, with each section helmed by a familiar documentary filmmaker. This allows for a number of fun and interesting style to be put on display. As we delve into the world of economics, this all feels like a few great bits in an overambitious whole. Each segment has a fascinating topic, and one that could be explored at full length. Corruption and murder in sumo wrestling, how our names affect our lives, and how abortion may have helped to reduce the crime rate. All great subjects that are handled with kid gloves. It has inspired me to look into further detail about some things, but I wonder if the ideas and thoughts provoked will last a long time.

A few of the issues addressed in the book are examined: cheating, paying students, crime.

The crime segment was interesting as statistics were actually used. I didn't quite understand how the percentages were developed for why crime decreased. I do find it interesting that Roe v. Wade is used to explain the reduction of crime in the late 1980s.

I guess I didn't quite follow the sumo controversy too carefully. That a match that doesn't much matter is "thrown" doesn't bother me. When an NFL team has secured a spot in the playoffs, it often doesn't play its stars in a meaningless end of season regular game. I liken the sumo situation to that.

Freakonomics is thought provoking. For that, it is recommended. Treat yourself to an interesting flick.

I'll admit from the off that I was skeptical regarding this documentary ever since I first heard it was in production. Having read the book, I felt that what made it enjoyable could not really be transposed onto film. Economics, being such a science of numbers, even in its freakonomic form, does not really lend itself to being narrated to death.

Going beyond this limitation, I reckon the film could have still been better, had it found a unity of tone. Unfortunately, as several different teams were involved with making each of the four chapters, the final experience is heavily fragmented and unlike the book, which kept its pacing throughout, the film is all over the place.

The first part basically looks at whether there is some sort of correlation between a person's first name and the path one goes through life. A potentially amusing segment, it proves to be in search of a comic sense it never arrives at and the examples taken from the book appear wholly unrealistic and not fully integrated.

The second part is quite dark and brings forth a sort of investigation into the Sumo world and allegations of match-rigging. Contextualized in the sacrosanct culture that defines the sport, this exploration of truth, justice and fair-play toys around with big words and complex issues, its reach ultimately exceeding its grasp.

The third part references dear old Romania and our beloved dictator's policy of ruling abortions illegal - a subject matter dealt with artistically in the well-known "4 Months, 3 Weeks, 2 Days". I'm not quite sure the parallel proves a point, because it tries to show how the opposite policy, legalizing abortion in the US following Roe v Wade, caused a sudden, steep reduction in crime in the early nineties. Ironically enough, the generation Ceausescu (the dictator referenced above) forcibly gave birth to, so to say, caused his downfall. Yet, I think this segment points out an interesting observation, even if one could get distracted by the overly dramatic narration.

The last part is an on-film experiment about trying to find an incentive to make kids get better grades in high-school by offering financial rewards. Unfortunately, the set-up lacks any authentic feel and implicitly does not help support the case that the authors tried to convey.

So overall it would seem that almost all segments have at least one fundamental issue that they don't tackle very well. At times the film livens due to the interesting nature of the facts being presented, but on the whole it's still shy of a successful venture. Even while reading the book I felt that the novelty seeped out of it before I had reached its end and this feeling was only exacerbated in the documentary.

I don't think this is the place to debate the correctness of the research Levitt and Dubner have done or their conclusions, because the film certainly does not offer a strong basis to work on. The book has a scientific feel to it, conferring at least a sense of objectivity and, more importantly, finding the levity to show that it does not assume to offer absolute answers. The documentary, on the other hand, loses sight of this and never manages to find its proper balance.

1/27/18. An entertaining documentary that looks at the various ways economics play a role in our lives. So educational without feeling like you are being lectured to about ethical behaviors, cheating, etc. Worth catching. You'll learn some about how society functions!