Freakonomics’ Steven Levitt On The Secret To Making Tough Choices
Oct 19, 2023
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Steven Levitt, author of 'Freakonomics' and University of Chicago scholar, talks about his role as a data scientist, using a coin flip for decision-making, and his groundbreaking research on crime prevention. He also discusses the link between crime and abortion, the use of GPS ankle bracelets for criminal justice reform, and the benefits of podcasting over writing books.
Steven Levitt considers himself a data scientist rather than just an economist, highlighting the importance of data science in understanding complex problems and making informed decisions.
Levitt's research on decision-making through data analysis, such as the use of coin toss studies, reveals insights into human behavior and the value of making changes when individuals are indecisive.
Deep dives
Thinking like a freak and the legacy of Freakonomics
In this podcast episode, Professor Stephen Levitt, one of the authors of the popular book Freakonomics, discusses the legacy of the book and what it means to think like a freak. He shares how his training in economics led him to identify more as a data scientist and the challenges he faced in academia. Levitt also talks about his research on decision-making, the impact of legalized abortion on crime rates, and the potential of GPS-equipped ankle bracelets in crime prevention.
The power of data science and decision-making
Professor Levitt emphasizes the importance of data science in understanding complex problems and making informed decisions. He highlights the need to teach data science and statistical thinking from an early age to equip individuals with valuable skills. Levitt's research on decision-making through data analysis, such as the use of coin toss studies, reveals insights into human behavior and the value of making changes when individuals are indecisive.
Crime research and the influence of Freakonomics
Levitt shares his journey into crime research and his curiosity sparked by cop shows. He discusses the increase in crime rates during the 1960s and the subsequent decline in the 1990s, focusing on the role of legalized abortion in reducing crime. His research suggests that reduced numbers of unwanted children due to legalized abortion correlate with a decrease in crime rates. Levitt also addresses the potential impact of limited access to abortions on crime rates today.
Radical innovation for social change: GPS ankle bracelets and rethinking the criminal justice system
Professor Levitt introduces the concept of using GPS-equipped ankle bracelets as a more effective and humane alternative to incarceration. By monitoring individuals on pretrial release or parole, it is possible to reduce crime rates significantly and shrink the prison population. However, Levitt acknowledges that resistance exists from both left-leaning individuals concerned about privacy and right-leaning individuals hesitant to dismantle the prison industrial complex. Nonetheless, he believes that this innovation has the potential to revolutionize the criminal justice system and achieve large-scale social change.
Of the academic books that have become household names, “Freakonomics” must be at the top of the list. The 2005 book by University of Chicago scholar Steven Levitt and journalist Stephen Dubner created not only a whole new way of thinking about discovering answers to complex problems, but launched a media empire—from book sequel to a movie to a hit podcast.
On this special episode, we sat down with Levitt during the inaugural UCPN Podcast Festival, to talk about the legacy of Freakonomics. Almost 20 years later, he told our audience how he views himself as a “data scientist” and not just an economist, what he’s learned about using a coin flip to make hard decisions in life, and why he thinks he may have found the “holy grail” of solving crime.