Steven David Levitt is an American economist and the co-author of the best-selling book Freakonomics and its sequels. He was born on May 29, 1967, in the United States (along with Stephen J. Dubner). In recognition of his contributions to the study of criminal behavior, the John Bates Clark Medal was awarded to Levitt in 2003. He is currently the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago. In addition, he is the Faculty Director and Co-Founder of the Center for Radical Innovation for Social Change at the University of Chicago which is the organization that serves as the incubator for the Data Science for Everyone coalition.
Up until December 2007, he served as a co-editor of the Journal of Political Economy, which is an academic journal published by the University of Chicago Press. In 2009, Levitt was one of the co-founders of the business and philanthropy consulting firm known as TGG Group. In 2006, Time magazine named him one of the “100 People Who Shape Our World.” This honor was bestowed upon him. After Paul Krugman, Greg Mankiw, and Daron Acemoglu, economics professors ranked Levitt as their fourth preferred living economist who is under the age of 60 in a survey that was conducted in 2011. In St. Paul, Minnesota, where he currently resides, Levitt received his education at St. Paul Academy and Summit School.
After receiving his Bachelor of Arts in Economics with the highest honors from Harvard University in 1989 and writing his senior thesis on rational bubbles in horse breeding, he went on to work as a consultant at Corporate Decisions, Inc. (CDI) in Boston, advising Fortune 500 companies. His thesis was on rational bubbles in horse breeding. In 1994, he graduated with a Doctor of Philosophy degree in Economics from MIT. He is currently the director of the Gary Becker Milton Friedman Institute for Research in Economics at the University of Chicago, in addition to holding the William B. Ogden Distinguished Service Professor position there.
In 2003, he was honored by the American Economic Association with the John Bates Clark Medal, which is presented every two years to the most promising economist working in the United States who is under the age of 40. Freakonomics, which Levitt co-authored with Stephen J. Dubner and published in April 2005, quickly rose to the top of the New York Times bestseller list after its initial release. In addition, Levitt and Dubner launched a blog that is exclusively devoted to Freakonomics. Over sixty academic publications are a result of his work on a wide range of economics topics, including politics, sports, and criminal justice.
His An Economic Analysis of a Drug-Selling Gang’s Finances (2000), for instance, examines a handwritten “accounting” of a criminal gang and draws conclusions about the income distribution among gang members based on the information contained in the accounting. In his most famous and contentious work, The Impact of Legalized Abortion on Crime (2001), which he wrote in collaboration with John Donohue, he demonstrates that the legalization of abortion in the United States in 1973 was followed approximately eighteen years later by a considerable reduction in crime.
He then argues that unwanted children are more likely to commit crimes than wanted children and that the legalization of abortion resulted in fewer unwanted children, which led to a reduction in crime as these children grew In 2003, Theodore Joyce presented an argument that contradicted the findings of Donohue and Levitt by stating that legalized abortion had little impact on crime. In their response, which was published in 2004, the authors argued that Joyce’s argument was flawed because of omitted-variable bias. This response was published. Christopher Foote, an economist at the Federal Reserve Bank of Boston, and Christopher Goetz, his research assistant, published a paper in November 2005 in which they argued that the results in Donohue and Levitt’s paper were due to statistical errors made by the authors.
This paper was written by Christopher Foote. Christopher Goetz worked as a research assistant for Christopher Foote. Foote and Goetz argued that abortion actually increased violent crime rather than decreasing it after the corrections were made. Donohue and Levitt published a response in January 2006, in which they admitted the errors that were present in their initial paper, but also pointed out that Foote and Goetz’s correction was flawed due to heavy attenuation bias. [Donohue and Levitt] published their response.
After making the necessary adjustments to correct the initial errors, the authors argued that the corrected link between abortion and crime was now weaker but was still statistically significant. However, they did note that the original errors had been corrected. In the year 2019, Levitt and Donohue published a new paper that analyzed the predictions made in the earlier paper that was published in 2001. The authors came to the conclusion that the initial predictions were accurate and had significant effects. “We estimate that the legalization of abortion contributed approximately 20% of the decrease in crime that occurred between 1997 and 2014.
|Popular As||Steven Levitt|
|Age||55 years old|
|Born||29 May 1967|
|Town/City||Boston, Massachusetts, United States|
See Also: Callum Orchison| Contact Details (Phone Number, House Address, Email ID)
Steven Levitt, Boston, Massachusetts, United States
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