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Definition: Freakonomics

Full Definition of Freakonomics

Freakonomics was originally the name of a book written by Steven D. Levitt and Stephen J. Dubner in 2005. It has since become a wider phenomenon that describes a philosophical and research-based approach to economics.

Freakonomics looks at everyday events and uses economic analysis to understand why certain things happen. They suggest that at root, economics is about incentives – rewards for doing certain things and penalties for doing other things, or the Carrot and Stick approach.

Freakonomics – The Book

The book covers a wide array of topics: What is the impact of good parenting on children? Is a gun or a swimming pool more dangerous? What are the economics of crack cocaine dealing? Why did crime rates go down in New York – and how did the availability of abortions play a part? What do the Ku Klux Klan and real estate agents have in common?

The book has proved to be enormously successful, with over 3 million copies sold.

Freakonomics – The Blog

With the great interest the book generated, Levitt and Dubner have gone on to write a widely read blog in the New York Times.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Freakonomics. Payroll & Accounting Heaven Ltd. September 22, 2021
Chicago Manual of Style (CMS):
Freakonomics. Payroll & Accounting Heaven Ltd. (accessed: September 22, 2021).
American Psychological Association (APA):
Freakonomics. Retrieved September 22, 2021, from website:

Definition Sources

Definitions for Freakonomics are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th March, 2020 | 53 Views.