011: Stephen J. Dubner - Freakonomics

Today we welcome Stephen J. Dubner, award-winning New York-based journo and co-writer of the pop culture phenomenon Freakonomics. Stephen grew up in Duanesburg, once home of the largest coaling station in the world. Studying at the Appalachian State University he graduated in 1984. Shortly afterwards he discovered playing in a rock band wasn't his life's path, so he decided to focus on his writing which has led him to cross paths with Steven D. Levitt, his left-of-centre cohort in the production of the book Freakonomics.

Freakonomics takes a slightly skewed look at the art and science of economics. When most people think of economists, many think of slight, suit wearing nerdy types that hang out with actuaries and finance analysts. Freakonomics turns this projection on its head, looking at the intriguing side of life, answering questions like "If drug dealers make so much money, why do they still live with their mums?" and "What do school teachers and sumo wrestlers have in common?"

BV: Please give Stephen a very warm welcome. Stephen, thanks so much for taking the time out of your busy schedule to answer some of my questions. Freakonomics has been out for almost a year now, does it seem like a lifetime ago that this came out, or does it feel like just yesterday?

Believe it or not, it was published two years ago, at least in the U.S. And yes, time has flown. In some ways, the book still feels new - mostly because we try to keep the dialog going on our blog. That's been one of the best surprises of this whole venture: being able to push the ideas forward with an online community.

BV: For those of us who have no idea about economics (um… yeah… that's me!!), can you explain what's at the core of economic studies and how Freakonomics is different to this?

Most people think of economics as a subject matter, one that primarily includes "the economy", the stock market, interest rates, etc. That's all hugely important, obviously. But the field of economics is in fact much broader than that, or can be broader at least. Think of it as a toolkit - a lot of mathematical tools, yes, but also a way of looking at the world and examining human behavior. To be really reductive, you could call it the science of decision-making, which obviously each of us is involved in many times each day. So really, if you think of it like that, no subject is off-limits.

BV: You have chosen to set up a blog to help with the marketing of this book. How do you think this medium has helped in the promotion?

It's hard to measure but my impression is that the blog is one reason the book continues to live on. We've got about 60,000 daily readers, which isn't much compared to a Yahoo!, but for a couple of authors who like to chat up their ideas, it's a lot.

BV: With all the blogs and social media sites that are growing in size and popularity, the web is becoming an ever more complex and intertwined place. Places like Second Life offer people the opportunity to start virtual worlds and economies. It's new and a little scary to some. Do you think this is a trend we will see more and more, and what impact do you think it will have on 'old world economies'?

That's a really interesting question. Just the other day on our blog, in fact, our new web editor Melissa Lafsky blogged about a controversy brewing in Second Life over a "virtual rape." You can see from the comments on the post that people are deeply, deeply divided about the transplantation of real-world issues like justice and incentives onto a virtual world. But, as others point out, the virtual world can be an excellent laboratory to try out potential real-world solutions.

BV: Has anyone ever told Steve Levitt, your ‘partner in crime’ for the book Freakonomics that he looks like Alan Ruck from 'Ferris Bueller's Day Off '?

Hmm. I don't know. But I have to say, I don't see the resemblance.

BV: Out of all the examples in the book (of which there are many), which one do you feel really puts the freak in Freakonomics?

The correlation between the legalization of abortion and a drop in crime was certainly a provocative issue, which made people think about the world differently. I'd say that was the single most powerful idea. But a lot of people prefer the stuff we wrote about how baby names are connected to socioeconomic status. Hey, it takes all kinds...

BV: Well mate, you’ve definitely put an interesting slant on the world of economics for us all. Thanks for a very enlightening chat and good luck with the book!

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