EconTalk Twenty Years of Freakonomics (with Stephen Dubner)
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Oct 20, 2025 
Stephen Dubner, a journalist and co-author of the groundbreaking book Freakonomics, opens up about its 20th anniversary. He shares how a magazine profile led to their bestseller, blending narrative journalism with data-driven research. The conversation dives into private equity’s complex role in the economy and its impact on employees. Dubner also explores the nuances of incentives, using the intriguing bagel honor-box experiment to highlight social norms. The discussion challenges conventional economic thought, offering fresh perspectives on competition and behavior.
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How Freakonomics Began With A Profile
- Stephen Dubner describes meeting Steve Levitt as a multi-day masterclass that transformed his career and led to writing Freakonomics together.
- That initial magazine profile evolved into a book partnership after Levitt's agent suggested they collaborate, changing both their paths.
Economics As Structured Inquiry
- Levitt taught Dubner to think like an applied microeconomist: identify incentives, find data, test alternative explanations, and show caveats.
- That approach shaped Freakonomics' blend of rigorous research and accessible storytelling.
Show Your Homework To Avoid Overclaiming
- Freakonomics kept caveats and alternative explanations visible, unlike many popular social-science books that overclaim from thin studies.
- That transparency helped the book introduce readers to cautious empirical thinking rather than sweeping certainty.
