Wednesday, December 10, 2008

Freakonomic's Post 2

Well, I finished Chapter 2( The Ku Klux Klan and Real-Estate Agents)last night. This chapeter focused on the importance of information in the world and how it can be misused. The chapeter started off by telling the story of Stetson Kennedy, who, thourgh broadcasting the KKK's information, discouraged people to join the terriable group. It then gave statistics on how real-estate agents use the information they have on a house and thier personal opinion to sell a house at a profit that benefits the borker rather than the seller. The second chapeter concluded by showing the importance of discriptions in the housing market and online dating. For example, if a realeste agent thinks a house to be of low quailty, they will say it is "charming" so that the seller takes it as a compliment and the buyer takes it as a fixer upper.

Chapter 2 did not make as much sense to me as the first one did. I understood the paralles that the authors were trying to draw, but I felt it was a stretch to come to those conclusions. I don't think there is much relationship between the Stetson Kennedy situation and information of real-estate agents. Kennedy had used information to shut down an organization, where people tend to trust the people who are "experts" in a field as stressful houseing and not call them out on thier faulties.

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