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WTF?!: An Economic Tour of the Weird 1st Edition
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Step right up! Get your tickets for WTF?! An Economic Tour of the Weird! This rollicking tour through a museum of the world's weirdest practices is guaranteed to make you say, "WTF?!" Did you know that "preowned" wives were sold at auction in nineteenth-century England? That today, in Liberia, accused criminals sometimes drink poison to determine their fate? How about the fact that, for 250 years, Italy criminally prosecuted cockroaches and crickets? Do you wonder why? Then this tour is just for you!
Join WTF?!'s cast of colorful characters as they navigate the museum, led by guide and economist Peter T. Leeson. From one exhibit to the next, you'll overhear Leeson's riotous exchanges with the patrons and learn how to use economic thinking to reveal the hidden sense behind seemingly senseless human behavior―including your own. Leeson shows that far from "irrational" or "accidents of history," humanity's most outlandish rituals are ingenious solutions to pressing problems―developed by clever people, driven by incentives, and tailor-made for their time and place. Can you handle getting schooled by the strange? Better hurry, the tour is about to start!
Review
"This book has a surprise—not to mention a puckish joke—on every page. It's strange, it's fascinating, and it's one of the most original books I've ever read." Tim Harford, author of Messy and The Undercover Economist
"Your initial reaction might be WTF!? How can medieval trials by ordeal, wife sales, and divine curses all boil down to rational economic behavior? But, Leeson will lead you deftly through the logic and history behind these seemingly senseless rituals. Keep an open mind and this book will surprise, teach, and entertain!” Andrei Shleifer, Harvard University
"WTF?! is the most interesting book I have read in years! Peter Leeson displays his unique talent: unearthing mankind's seemingly craziest behaviors, and then showing that these behaviors, against all odds, ultimately make perfect sense. WTF?! is like Freakonomics on steroids." Steven D. Levitt, co-author of the bestselling Freakonomics book series
"A fascinating tour of some of the world's strangest customs and behaviors, led by a brilliant, funny, and eccentric tour guide dedicated to the proposition that no matter how strange it looks, there's always a reason for it—and a lesson to be learned by discovering that reason. It's okay to gawk, says our tour guide, but it's even better to empathize and, armed with Leeson's insights, there's no reason why we can't do both." Steven E. Landsburg, University of Rochester, author of The Armchair Economist
About the Author
- ISBN-101503600912
- ISBN-13978-1503600911
- Edition1st
- PublisherStanford Economics and Finance
- Publication dateOctober 17, 2017
- LanguageEnglish
- Dimensions6.25 x 0.75 x 9 inches
- Print length264 pages
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Product details
- Publisher : Stanford Economics and Finance; 1st edition (October 17, 2017)
- Language : English
- Hardcover : 264 pages
- ISBN-10 : 1503600912
- ISBN-13 : 978-1503600911
- Item Weight : 1.25 pounds
- Dimensions : 6.25 x 0.75 x 9 inches
- Best Sellers Rank: #837,865 in Books (See Top 100 in Books)
- #261 in Microeconomics (Books)
- #742 in Customs & Traditions Social Sciences
- #829 in Trade
- Customer Reviews:
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Throughout the tour, you’ll laugh at the tour guide’s vivid interactions and frequent bickering with the distinctive patrons, perhaps secretly cheer for the tour guide in his seemingly doomed attempts at openly flirting with a certain special visitor, and, at times, maybe even wish you could punch certain fictional-ish characters in the face. This tour entertains like no other. This book also exquisitely enlightens like no other. By the end of this tour, you will have learned about times and places where such practices not only existed, but were unquestionably conventional. The eccentric tour guide will moreover show you that, at these times and places, such practices were not merely sanctioned lunacy, but were undeniably sensible and even productive for those who engaged in them. In fact, you might even leave the tour with the conviction that, had you fully encountered the same limitations, found yourself in the same surroundings, shared the same beliefs, and had hoped to prove your innocence (assuming you were, indeed, innocent), you would likely have deliberately and willingly plunged your arm into boiling hot water (had you found yourself in medieval Europe) or ingested poison from a “magical” tree (had you found yourself instead in modern Liberia). I cannot recommend this book enough!
But WTF?!: An Economic Tour of the Weird, is something else altogether.
As far as content, the book combines eight real world behaviors that make you say "WTF?!", derived from Leeson's research and published papers. Everything from shaking a poisoned chicken to settle a slight, to convicting insects and rodents of crimes in a court of law are examined, revealing sensible, even brilliant logic. The theme over and again is simple but profound: given the constraints (beliefs, resources, etc.) they face, people behave in rational ways to seek their ends. Yes, trial by combat and wife sales are rational actions in context.
But what makes the content in WTF?! really stand out is the form. Leeson's academic work is accessible, but this book is downright fun. It's like Ripley's Believe it Or Not; enjoyable as much for entertainment as enlightenment. Acting as a tour guide, Leeson describes strange phenomena and their rationale, while engaging colorful characters on the tour who ask many of the questions readers are thinking. The guide pokes fun at them, and himself, shares barbs and insults, and connects to stories from his own childhood.
You don't need to care one bit about economics or social theory to enjoy this book. Conversely, if you hate fun and frivolity and care only for social science, you'll find serious economic theory in WTF?!
If you don't find the world more fascinating and enjoyable, and people more ingenious and clever, after reading WTF?!, something might be wrong with you!
Trials of vermin and trial by ordeal both are presented as systems to be gamed by the clergy. One raised tithes and the other the authority of the church. Maybe so, but that implies a lack of real faith by the practitioners.
If you’re interested in finding out how mythology and contortions can be carved into a convoluted but rational process, Leeson is a decent read. But just because a system is rational doesn’t mean it is economical in the common definition of the word.
One last point. I found the idea of a tour through the museum of the odd contrived and cloying but I’ll give him points for courageous writing.
Top reviews from other countries
- trial by fire and water : fighting crime at a relatively low cost, economically efficient
- wife selling : work around laws prohibiting divorce, allows exchanges which people wanted to make but would have been otherwise impossible (black market)
- Gypsy superstitions : enforce contracts by internalizing the compliance to rules and increasing the fear of ostracism, economically efficient within the Gypsy community only
- cursing monks: defend property rights by capitalizing on people’s religious beliefs, during the ‘feudal anarchy’ period following the end of the Carolingians
- oracular divination: solve petty conflicts in small communities where recourse to the judiciary is not feasible, at a low cost and with a fair result
- the prosecution of insects and rodents: propaganda to increase tax collection and economize monitoring costs by internalizing compliance, when the authority of the church was undermined by heretics, economically efficient for the tax collector only
- judicial combat: allocate land to the user who most values it - like a form of trade - in a setting where legal transaction costs were very high, few deaths in combat which often ended in a settlement, economically efficient




