INTRODUCTION SuperFreakonomics, the highly anticipated sequel to the best-selling Freakonomics, was released on October 20, 2009.

Steven Levitt, professor of economics at the University of Chicago, and author Stephen Dubner have again teamed together to apply economic reasoning to a wide range of real-world questions. As with the original Freakonomics, SuperFreakonomics is largely based upon the research of Professor Levitt, who has tackled problems inside and outside the field of economics. We have read the book and written down all Indian examples along the lines of the various international examples mentioned in the book. The book talks about topics that we must have always thought we know everything about. But, then when you read the book one realizes that there is so much more to global warming, prostitution, kidney donors etc. We have read the book and written down all Indian examples along the lines of the various international examples mentioned in the book. SuperFreakonomics challenges the way we think all over again, exploring the hidden side of everything.

CHAPTER 1: HOW IS A STREET PROSTITUTE LIKE A DEPARTMENTAL STORE SANTA? This chapter talks about one of the worlds oldest professions from an economic point of view. It discusses the fall in wages for a prostitute over the years. The demand for sex has not decreased but, with time pre- marital and casual sex have become more acceptable reducing the dependence on a prostitute.

ECONOMIC CONCEPTS THROUGH INDIAN EXAMPLES India is home today to Asia's largest red-light district--Mumbai's infamous Kamathipura, which originated as a massive brothel for British occupiers and shifted to a local clientele following Indian independence. The Mughal Empire (1526 -1857) also witnessed prostitution the word tawaif and mujra became common during this era. Notorious red light districts of India include GB Road in Delhi, Sonagachi in Kolkata, Kamathipura in Mumbai, Budhwar Peth in Pune and Reshampura in Gwalior. There are around 2.8 million prostitutes in the country and their number is increasing, as informed by Lok Sabha. Most of the girls are brought from Nepal and Bangladesh. ''Young girls are trafficked from Nepal to brothels in Mumbai and Kolkata at an average age of twelve. They are trapped into the vicious cycle of prostitution, debt and slavery. By the time they are in their mid-twenties, they are at the dead end. In modern India different kinds of prostitution is prevailing apart from prostitutes in brothel there are: Street prostitutes Bar dancers Call girls Religious prostitutes Escort girls Road side brothel Child prostitutes Fricatrice prostitutes Gimmick prostitutes Beat prostitutes

Every hour, four women and girls in India enter prostitution, three of them against their will. Prostitution is a problem in itself and child prostitution is making it more complex. Quoting a study on 'Girls/Women in prostitution in India', Minister for Women and Child Development Renuka Chowdhury said that out of the total number of prostitutes in the country, 35.47 per cent entered the trade before the age of 18 years. In a country like India where most of the people indulge themselves in unprotected sex with prostitutes it is very difficult to eradicate the problem of aids. Historically, the AIDS epidemic in India was first identified amongst sex workers and their clients, before other sections of society became affected. The sex workers are themselves taking steps to combat with aids in some brothels in India for example sonagachi a brothel in Kolkata; where the sex workers are insisting their clients for use of condoms in order to avoid aids. But in all the other brothels in India social workers and NGO`S are trying to acquaint the sex workers about the ill effects of AIDS and are insisting them for using condoms CASE STUDY Meena was married off at 12. Soon after she was taken to Delhi by her husband, where she found out that he was a pimp. In the last three years, she has serviced up to six clients a night. The major part of her earnings goes to pay rent on the little room; the rest goes to her husband. Maya, 10, was taken to Gorakhpur in Uttar Pradesh by her aunt who was paid Rs 3 000. When she refused to have sex with a client, she was locked in a room for two days, scared with snakes and beaten unconscious. When she came around she was raped by the client. Four years on, Maya lives in the red-light area of Mumbai. Her two year old spends the night in a crche run by a social service organization. When he was only a few Months old, she used to drug him and put him under her working cot. Shall India legalize prostitution? Some people opine that prostitution shall be made legal in India and accept them as a part of society because the problem of prostitution is inevitable. The benefit of legalizing prostitution in India will be that atleast we will have a track record of Sexworkers as for example when dance bar in Bombay were closed most of the bar dancers migrated to Gujarat and Karnataka and other neighbouring state and started their business undercover. Legalising prostitution will see these women, who live life on the edge everywhere, gaining access to medical facilities, which

can control the spread of AIDS. There is a very strong need to treat the sex industry as any other industry and empower it with legal safeguards. The practical implications of the profession being legal would bring nothing but benefits for sex workers and society as a whole. Keeping prostitution illegal also contributes to crime because many criminals view prostitutes and their customers as attractive targets for robbery, fraud, rape, or other criminal acts. The criminals realize that such people are unlikely to report the crimes to police, because the victims would have to admit they were involved in the illegal activity of prostitution when the attacks took place, now if it is legal then they will easily go and report this to police.Benifits of legalizing prostitution are: Legalization of prostitution and the sex industry will stop sex trafficking. Legalization of prostitution will control the sex industry. Legalization of prostitution will decrease clandestine, hidden, illegal and street prostitution. Legalization of prostitution will protect the women in prostitution as they will have rights. Women in systems of Prostitution want the sex industry legalized as they are the one who suffers the most as they dont have any rights. Legalization of prostitution will promote women's health as they can have easy access to medical facilities which they dont have when it is illegal. Recognizing prostitution as an economic activity, thus enabling women in India to obtain working permits as "sex workers". SUPPLY AND DEMAND This chapter clearly demonstrates that the market for labour services, even prostitution, operates like the market for any other good or service. Changes in supply or demand will induce changes in equilibrium price (the wage) and quantity, and create additional incentives for suppliers and consumers to enter or leave the market. PRICE ELASTICITY OF DEMAND The first is the discussion of how arresting some prostitutes caused prices to increase. The resulting reduction in supply put upward pressure on price, which

patrons apparently readily agreed to pay, suggesting demand is relatively price inelastic, i.e., the percentage increase in price is greater than the percentage decrease in quantity demanded. Assuming this is, in fact, the case, the overall effect would be to cause the total revenues of the prostitutes who are still working to increase. PRICE DISCRIMINATION A street prostitute uses her experience to identify and categorize customers. One of the easiest to observe traits her customer possesses is skin color. Based on the data (and, no doubt, the prostitutes experience), white customers pay more than black customers. Based on the foregoing observations, the market for prostitution clearly satisfies the conditions for successful price discrimination. And the data, combined with information from surveys about the pricing strategies employed by prostitutes, demonstrate how price discrimination can work to the benefit of the supplier. This is because without price discrimination, the same price would be charged to all customers SUBSTITUES AND MARKET DEMAND The determinants of the market demand for a good or service include the items price, the number of consumers, consumers incomes, expectations, tastes and preferences, and the prices of related goods, i.e., substitutes and complements. A change in any of the determinants of demand other than the price of the good or service will cause the demand for the good to increase or decrease. The change in demand causes the entire demand curve to shift. Understanding this, we can then answer the question: Why did the number of prostitutes, measured as a percentage of the population, decline over time? It did so because available substitutes for paid sex in particular, casual Sex increased. When the supply of casual sex increased, pushing down its price, the demand for a substitute, i.e., a prostitute necessarily decreased as well.

A BROTHEL IN MUMBAI

BAR DANCERS

CHAPTER 2: WHY SUICIDE BOMBERS SHOULD BUY LIFE INSURANCE This chapter begins with an explanation of how a surname, parents religion etc have an abnormal role in predicting the success of a child in a particular field, the next part talks about typical characteristics of a terrorist, what is the motive behind their actions, how almost all terrorists dont buy life insurance and the direct as well as indirect costs incurred by everyone due to terrorism. The authors, Levitt and Dubner talk about Craig Feieds efforts to transform emergency care at a Washington hospital. This portion emphasizes on the importance of having adequate information. ECONOMIC CONCEPTS THROUGH INDIAN EXAMPLES Seven blasts rocked the suburban railways in Mumbai on July 11, 2006. The blasts occurred between 6 pm and 6.30 pm at Matunga, Mahim Bandra, Khar , Borivali, Jogeshwari and Mira Road railway stations. 209 people were killed and over 700 were injured. According to Mumbai Police, the bombings were carried out by Lashkar-e-Toiba and Students Islamic Movement of India (SIMI). In wake of the blasts, the Indian government tightened security in railway stations. Under new restrictions passed by the Ministry of Railways, nonpassengers would no longer be allowed on the railway platforms after July 2006. Other major security steps included installation of close circuit televisions inside the stations for round-the-clock vigil and installation of metal detectors. Following the bomb attacks, Minister of State of External Affairs E. Ahamed announced that India would suspend the talks with Pakistan until President Pervez Musharraf abides by his 2004 promise of ending all support to cross-border terrorism ending the three-year long peace process. The Indian stock market has in the past shown that it is able to take terrorist attacks in its stride and this time was no different. Whether it was the first serial blasts in Mumbai in March 1993, the attack on Parliament in December 2001 or the latest attack on Mumbai, the sensex has emerged unscathed. In 1993, at the time of the Mumbai serial bomb blasts, when BSE building was also damaged,

sensex continued to move up. The sensex fell marginally by around 23 points on December 13, the day the parliament was attacked. A senior broker said that was mainly because of the then prevalent market sentiment which was bearish rather than a reaction to the attack. On August 25, 2003, when the twin blasts near Gateway of India and Zhaveri Bazar in Mumbai rocked the city, the sensex fell by 120 points. But the next day the sensex recovered its lost ground and moved up by 147 points. The day after the serial train blasts in Mumbai, the stock markets reacted with a vengeance and the 30-share sensitive index went up by 315 points (3%) to close at 10,930. In many Asian cultures chewing betel, paan and Areca is known to be a strong risk factor for developing oral cancer amongst other kinds of substance abuse. In India where such practices are common, oral cancer represents up to 40% of all cancers. Once a definitive diagnosis has been made, treatment can be started. Chemotherapy or surgery may be carried out depending on the stage of cancer. Chemotherapy is not a permanent cure but helps increase your days of survival by few days or a few years, if you are lucky. No doctor can tell you by how much he/she has increased your life span. Even though it is largely ineffective, it continues to popular among cancer patients. EXCEPTION TO THE LAW OF DEMAND Even tough chemotherapy may not be cost effective, there still continues to be a demand for the cancer treatment. Even at high prices people are willing to go for chemotherapy. This direct relationship between price and demand is an exception to the law of demand. This is called the Bandwagon effect. People tend to go in for chemotherapy since most other people suffering from cancer around them go for this. Also, the consumer does not make a completely rational decision since he/she is willing to take any measure to save the life of a loved one.

CORRELATION AND CAUSALITY We humans are built to see causation everywhere, to pick out patterns from nothing with our hyperactive pattern detectors even when it doesn't in fact exist. Causality is perhaps the most fundamental element of empirical evidence available to economists. However, it is also the source of many misconceptions due to its elusive nature. Correlation is an important statistical figure which indicates the strength and direction of a relationship between two phenomenon or variables. For example, The Sensex increases almost everytime there is a bomb blast in Mumbai. The two are positively co-related as both increase but this does not necessarily mean that bomb blasts cause a booming market.

DATA MINING OR DATA ANALYSIS In economics almost all available data are of observational nature, the data is not obtained by performing controlled economic experiments, but by passively observing economic reality. Data mining is the extraction of useful patterns and relationships from data sources, such as databases, texts, the web etc. Thus, correct information is of high value. For example, if adequate and appropriate information is collected about the cancer patients who want to undergo chemotherapy, best possible treatment can be provided by the doctors.

PIE CHART SHOWING THAT ORAL CANCER IS A BIG KILLER IN INDIA

2006 MUMBAI TRAIN BLASTS

CHAPTER 3: UNBELIEVABLE STORIES ABOUT APATHY AND ALTRUISM This chapter is about apathy and altruism as the name suggests. The core of this chapter deconstructs a 1964 murder in New York City which was apparently witnessed by many people (around 60-70), out of which none of whom intervened or even reported it to the police. Also a research shows how more kidneys are donated in a country where you get paid for organ donation as compared to a country where it is done completely based on kindness. ECONOMIC CONCEPTS THROUGH INDIAN EXAMPLES APATHY On January 1st, 2008, all of Mumbai woke up to gory images of two women being molested and hounded by a mob of about 60 people outside Mumbais most posh hotel, the J.W. Marriot in Juhu. The mob tore up the womans clothes and groped her for as the girls male companions tried helplessly to protect them. The men were completely overpowered by the strong mob. A Hindustan Times lensman was present and captured the gory images on his Camera. A big posse of police personal posted close to the venue was later alerted by the Lensman and drove away the miscreants but not before they had molested the girls for about 15minutes. The incident occurred at about 1.45 am on December 31st night when the two girls were returning from the Hotel and were heading towards Juhu Beach, located in the suburbs of Mumbai. A similar incident had shamed Mumbai exactly an year ago,a girl was molested by New Years eve revelers at the Gateway of India. That incident too was captured on film by another popular tabloid in Mumbai. Mumbai used to be regarded as the safest city for Women in India. But this reputation seems to be diminishing as crimes against Women are reported daily. The New Years molestation incident was an eye opener for the Safest City in India. About 14 men who were part of the mob were imprisoned by the Police but later let off as they were not the actual molesters. The women who were on the receiving end were NRIs and came forward to help the police to nab the miscreants. But what was shocking was that the , Police Commissioner D N Jadhav downplaying the incident accused the Media of making a Mountain of a

Molehill He went on to add, Such things can happen anywhere anytime. Here also where I am. It is just an offence. Why are you blowing it out of proportion? ALTRUISM There are approximately 300 million chronically hungry children in the world. One hundred million of them do not attend school, and two thirds of those not attending school are girls, so to solve this problem World Food Programme came up with a solution called SCHOOL FEEDING PROGRAM. The school feeding formula is simple: food attracts hungry children to school. An education broadens their options, helping to lift them out of poverty. Among the poor, there is often not enough food at home, and most schools in developing countries lack canteens or cafeterias. School meals are a good way to channel vital nourishment to poor children. Having a full stomach also helps them to concentrate better on their lessons. In countries where school attendance is low, the promise of at least one nutritious meal each day boosts enrolment and promotes regular attendance. Parents are motivated to send their children to school instead of keeping them at home to work or care for siblings. In the poorest parts of the world, school meal programmes can double primary school enrolment in one year. Among the key beneficiaries are girls, who otherwise may never be given the opportunity to learn. One successful method to ensuring that children attend school on a regular basis is through school feeding programs. Many different organizations fund school feeding programs, among them the World Food Programme and the World Bank. The idea of a school feeding program is that children are provided with meals at school with the expectation that they will attend school regularly. School feeding programs have proven a huge success because not only do the attendance rates increase, but in areas where food is scarce and malnutrition is extensive, the food that children are receiving at school can prove to be a critical source of nutrition. School meals have led to improved concentration and performance of children in

school. Another aspect of school feeding programs is take home rations. When economic reasons, the need to care for the elderly or a family member suffering from HIV, or cultural beliefs keep a parent from sending their child (especially a female child) to school, these take home rations provide incentives to sending their children to school rather than to work. INCENTIVES The above example shows how underprivileged children wouldnt attend school despite it being free. But, as soon as the school education included one free meal a day the enrolment in these schools increased drastically. This shows that everybody whether children or adults require incentives.

RURAL SCHOOL CHILDREN EATING A FREE MEAL AT SCHOOL

NEWSPAPER ARTICLE ON JUHU MOLESTATION

CHAPTER 4: THE FIX IS IN AND ITS CHEAP AND SIMPLE The Fix is inand its Cheap and Simple In which big, seemingly intractable problems are solved in surprising ways. This chapter explains brilliant ideas provided by equally brilliant people with easy to understand methods. ECONOMIC CONCEPT THROUGH AN INDIAN EXAMPLE After several years of working directly from the United States with inventors and inventing organizations in India, great demand for more hands-on collaboration with Intellectual Ventures was seen. Many universities had only recently established their technology licensing offices (TLOs) and were searching for ways to commercialize their inventions internationally. In other cases, companies did not want to be distracted from their primary focus on the local markets, but did believe there was a larger international opportunity for their ideas. Universally, a great interest was found in collaborating on the identification of promising areas for new invention. Intellectual Ventures launched its Indian operation in September 2007 to better meet the demand it was experiencing in the region. It currently has offices in Japan, Korea, China, Australia, New Zealand, and India, and a regional headquarters in Singapore. Their Indian offices have a singular focus: invention development. Each office is currently identifying promising local inventors and working with them to come up with new inventions in key technology areas. Great inventors can be found in many places in Asia, and they are working with inventors at Indian universities, public and private research institutes, as well as small and large companies. IV helps Indian inventors identify valuable areas for new inventing, and when they are excited by a particular invention idea, they provide all necessary financial and administrative support to turn that idea into a patent application. Our invention development programs help bring needed capital to inventors, as well as their universities, research institutes, and companies. This capital can, in turn, be used to fund new and on-going research or for TLO operating capital. They also offer this network of Indian inventors and institutions access to our own in-house experts in science and technology, invention valuation, as well as IP and patent law. Most importantly, our invention

development programs help bring more of Indias inventions to the global marketplace. One area where a fix is desperately needed is access to electricity. In the age of the iPad, its easy to forget that roughly a quarter of the worlds population about a billion and a half people still lack electricity. This isnt just an inconvenience; it takes a severe toll on economic life, education and health. Its estimated that two million people die prematurely each year as a result of pulmonary diseases caused by the indoor burning of fuels for cooking and light. Close to half are children who die of pneumonia. The place that remains most in darkness is Bihar, Indias poorest state, 85 per cent of whom live in households with no grid connection. Because Bihar has nowhere near the capacity to meet its current power demands, even those few with connections receive electricity sporadically and often at odd hours, like between 3:00 a.m. and 6:00 a.m., when it is of little use. A fast-growing off-grid electricity company based in Bihar called Husk Power Systems has created a system to turn rice husks into electricity that is reliable, eco-friendly and affordable for families that can spend only $2 a month for power. The company has 65 power units that serve a total of 30,000 households and is currently installing new systems at the rate of two to three per week. Husk Power was founded by four friends: Gyanesh Pandey, Manoj Sinha, Ratnesh Yadav and Charles W. Ransler, who met attending different schools in India and the United States. In Bihar, poverty is extreme. Pretty much everything that can be used will be used recycled or burned or fed to animals. Rice husks are the big exception. When rice is milled, the outside kernel, or husk, is discarded. Because the husk contains a lot of silica, it doesnt burn well for cooking. A recent Greenpeace study reports that Bihar alone produces 1.8 billion kilograms of rice husk per year. Most of it ends up rotting in landfills and emitting methane, a greenhouse gas.

Pandey and Yadav began bringing pieces together for an electric distribution system powered by the husks. They got a gasifier, a generator set, filtering, cleaning and cooling systems, piping and insulated wiring. They went through countless iterations to get the system working: adjusting valves and pressures, the gas-to-air ratios, the combustion temperature, the starting mechanism. In they end, they came up with a system that could burn 50 kilograms of rice husk per hour and produce 32 kilowatts of power, sufficient for about 500 village households. They reached out to people in a village called Tamkuha, in Bihar, offering them a deal: for 80 rupees a month roughly $1.75 a household could get daily power for one 30-watt or two 15-watt compact fluorescent light (CFL) bulbs and unlimited cell phone charging between 5:00 p.m. and 11:00 p.m. For many families, the price was less than half their monthly kerosene costs, and the light would be much brighter. It would also be less smoky, less of a fire hazard, and better for the environment. Customers could pay for more power if they needed it for radios, TVs, ceiling fans or water pumps. But many had no appliances and lived in huts so small, one bulb was enough. The system went live on August 15, 2007. It worked. Back in the United States, their colleagues Sinha and Ransler, who were pursuing M.B.A.s at the University of Virginias Darden School of Business, put together a business plan and set out to raise money. They came first in two student competitions, garnering prizes of $10,000 and $50,000. The company received a grant from the Shell Foundation and set up three more systems in 2008. It has since raised $1.75 million in investment financing. In 2009, they had 19 systems in operation; in 2010, they more than tripled that number. Technically, most of the problems were solved by 2008. But to make the business viable has required an on-going process of what has been called frugal innovation radically simplifying things to serve the needs of poor customers who would otherwise be excluded from basic market services due to their limited ability to pay.

And they found ways to extract value from the rice husk char the waste product of a waste product by setting up another side business turning the char into incense sticks. This business now operates in five locations and provides supplemental income to 500 women. The company also receives government subsidies for renewable energy and is seeking Clean Development Mechanism benefits.

Alone, none of these steps would have been significant. Taken together, however, they make it possible for power units to deliver tiny volumes of electricity while enjoying a 30 percent profit margin. The side businesses add another 20 percent to the bottom line. Pandey says new power units become profitable within 2 to 3 months of installation. He expects the company to be financially self-sustaining by June 2011. From a social standpoint, there are many benefits to this business model. In addition to the fact that electricity allows shop keepers to stay open later and farmers to irrigate more land, and lighting increases childrens studying time and reduces burglaries and snakebites, the company also channels most of its wages and payments for services directly back into the villages it serves. For decades, countries have operated on the assumption that power from large electricity plants will eventually trickle down to villagers. In many parts of the world, this has proven to be elusive. Husk Power has identified at least 25,000 villages across Bihar and neighbouring states in Indias rice belt as appropriate for its model. Ramapati Kumar, an advisor on Climate and Energy for Greenpeace India, who has studied Husk Power, explained that the companys model could go a long way in bringing light to 125,000 unelectrified villages in India, while reducing the countrys dependence on fossil fuels. So would agree, smoking addicts. With the recent debateable issue of smoking, which has now become a rage in youth, one can easily imagine the extent one can go to for getting the cool image among peers. The fix that helped people to break the chains of smoking was a medicine, in fact a cheap tablet which helped

to curb the urge of smoking in people. This seemingly small tablet which was received with a positive response may prove to be a major solution in future.

CONCEPT (NAME OF CONCEPT ?) A fix basically is a steady solution for most problems and is the requirement of most economic situations. A fix which is cheap is in demand and its usually an innovation which goes on to be a quick-fix solution. Many a times, a fix is an improvised back-fired policy.

A MINI BIOGAS PLANT DURING THE DAY

TABLETS TO CURB THE URGE OF SMOKING

ANOTHER BRAND TO HELP QUIT SMOKING

CHAPTER 5: WHAT DO AL GORE AND MOUNT PINTABU HAVE IN COMMON? The final chapter talks about global warming and basically highlights how we contribute to the degradation of our environment. Levitt and Dubner highlight the economic concept of externalities. ECONOMIC CONCEPT THROUGH INDIAN EXAMPLE Industrial pollution has been and continues to be, a major factor causing the degradation of the environment around us, affecting the water we use, the air we breathe and the soil we live on. But of these, pollution of water is arguably the most serious threat to current human welfare The present study is mainly aimed at studying the nature and impact of water pollution in the Noyyal river basin in Coimbatore, Erode and Karur districts. The main thrust of the study is on the health status of villagers, agriculture and the livestock population. For this purpose 31 villages and 600 households have been selected for primary survey. To understand the magnitude of the impact of water pollution on the health status of the villagers, 3 major health camps were conducted. It was evident from the study that almost all the 31 sampled villages were affected by the industrial effluent. Health problems such as skin allergy, respiratory infections, general allergy, gastritis and ulcers were the common diagnosis by the medical team. The impact of water pollution was significant on the rural community in the areas of health, agriculture, livestock and drinking water. The health status of the villagers of the study area was assessed through health camps exclusively conducted for the present study. For this purpose three health camps were conducted covering 21 villages. In the first medical camp, conducted at Arugampalayam center around 250 villagers attended. In the second camp around 445 villagers attended. In the third medical camp around 425 villagers attended. It is observed from all the three camps that there were symptoms of skin allergy, gastritis and respiratory problems among the villagers.

EXTERNALITIES Externality is a consequence of an economic activity that is experienced by unrelated third parties. A consequence of an economic activity that is experienced by unrelated third parties Tirupur serves as one of the major exporters of textiles. The industrial pollution have affected not only the surface water but also the soils and ground water. The industrial pollution has not only affected the villagers health but also the livestock and agriculture in the village.This is a negative externality.

ARTICLE ADDRESSING THE ISSUE OF INDUSTRIAL POLLUTION IN COIMBATORE.

THE PICTURE ON THE LEFT SHOWS THE IMPACT OF THE INDUSTRIAL POLLUTION. THE PICTURE ON THE RIGHT SHOWS THE WATER BODY BEFORE THE INDUSTRIAL POLLUTION.

CONCLUSION Levitt and Dubner mix smart thinking and great storytelling like no one else. Also by examining how people respond to incentives, they show the world for what it really isgood, bad, ugly, and in the final analysis, superfreaky. What is more interesting is the comparison of the Indian concepts equivalent to examples in the book that were found out through research. It all sums up to prove that economics can be applied in the most bizarre situations in day-today life and still bring out its true essence in the economic world making it all the more amusing. The book is interesting because it uses real life examples which everybody can either relate to or has atleast heard of. Researching for Indian examples equivalent to the global examples gives us a much better understanding of the economic aspect of the book. What better way to learn economics, than with such fascinating examples.

BIBLIOGRAPHY
http://www.intellectualventures.com/whoweare/worldwide/in.aspx http://opinionator.blogs.nytimes.com/2011/01/10/a-light-in-india/ http://www.stopdemand.org/afawcs0112878/ID=146/newsdetails.html http://articles.timesofindia.indiatimes.com/ http://www.medicinenet.com/oral_cancer/article.htm http://www.yorku.ca/bunchmj/ICEH/proceedings/Govindarajalu_K_ICEH_papers_150to157.pdf