
“He had nice headphones,” says the economist, still watching in the rearview mirror. “Well, nicer than the ones I have. Otherwise, it doesn’t look like he has many assets.”
Steven Levitt tends to see things differently than the average person. Differently, too, than the average economist. This is either a wonderful trait or a troubling one, depending on how you feel about economists.
—The New York Times Magazine, August 3, 2003
In the summer of 2003, The New York Times Magazine sent Stephen J. Dubner, an author and journalist, to write a profile of Steven D. Levitt, a heralded young economist at the University of Chicago.
Dubner, who was researching a book about the psychology of money, had lately been interviewing many economists and found that they often spoke English as if it were a fourth or fifth language. Levitt, who had just won the John Bates Clark Medal (awarded every two years to the best American economist under forty), had lately been interviewed by many journalists and found that their thinking wasn’t very…robust, as an economist might say.
But Levitt decided that Dubner wasn’t a complete idiot. And Dubner found that Levitt wasn’t a human slide rule. The writer was dazzled by the inventiveness of the economist’s work and his knack for explaining it. Despite Levitt’s elite credentials (Harvard undergrad, a PhD from MIT, a stack of awards), he approached economics in a notably unorthodox way. He seemed to look at things not so much as an academic but as a very smart and curious explorer—a documentary filmmaker, perhaps, or a forensic investigator or a bookie whose markets ranged from sports to crime to pop culture. He professed little interest in the sort of monetary issues that come to mind when most people think about economics; he practically blustered with self-effacement. “I just don’t know very much about the field of economics,” he told Dubner at one point, swiping the hair from his eyes. “I’m not good at math, I don’t know a lot of econometrics, and I also don’t know how to do theory. If you ask me about whether the stock market’s going to go up or down, if you ask me whether the economy’s going to grow or shrink, if you ask me whether deflation’s good or bad, if you ask me about taxes—I mean, it would be total fakery if I said I knew anything about any of those things.”
