It is always good to read books with a dose of healthy skepticism. Especially books that might appear too convincing and tidy.Which is why fans of Freakonomics might be in for a rude shock.
In Econospinning by Gene Epstein, the author devotes chapter 15 of the book, titled "Best-Selling Myth: Freakonomics", to be nothing short of an expose of the twisted logic involved in Freakonomics.
Epstein goes after one of the most controversial findings made in Freakonomics, the one that links abortion and crime rates to reveal it as the middlebrow, deceptive and shoddy research that it is.
The best part is that Epstein even got Freakonomics co-author, Steven Levitt, to concede his error.
But what is "econospinning" in the first place? It is a term used to refer to the sort of economic journalism that shapes the data around a predetermined story, rather than the story around the discoverable data.
It amounts to reverse engineering of sorts, preferring sensationalism over substance, and a lot of times, misinterpreting figures and statistics.
Besides, Steven Levitt, New York Times columnist and much-revered public figure, Paul Krugman, is also targeted because he has tried to sway public opinion with his analysis that might not be the most insightful or truthful.
