Freakonomics: Chapter 3

by Steven D. Levitt, Stephen J. Dubner
What are the surprising, hidden, and even freakish forces that shape society? In this book, an economist and a journalist team up to explore small truths that have a big impact on the way we live.

Here are links to our lists for the book: Introduction, Chapter 1, Chapter 2, Chapter 3, Chapter 4, Chapter 5–Epilogue
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Full list of words from this list:

words only definitions & notes
  1. quiescent
    being quiet or still or inactive
    More than 1 of every 100 people were homeless? That sure seemed high, but . . . well, the expert said it. A heretofore quiescent problem was suddenly catapulted into the national consciousness.
  2. indignation
    a feeling of righteous anger
    A little creative lying can draw attention, indignation, and—perhaps most important—the money and political capital to address the actual problem.
  3. illicit
    contrary to or forbidden by law
    This emphasis on illicit cash proved to be a winning effort, for nothing infuriated the law-abiding populace more than the image of the millionaire crack dealer.
  4. susceptible
    yielding readily to or capable of undergoing a process
    But if he did tell the rival gang about this stairwell hangout, they’d be susceptible to a surprise attack.
  5. unfettered
    not bound or restrained, as by shackles and chains
    After some wrangling, J. T. promised Venkatesh unfettered access to the gang’s operations as long as J. T. retained veto power over any information that, if published, might prove harmful.
  6. anomalous
    deviating from the general or common order or type
    Venkatesh soon encountered another anomalous young Fellow, one who also failed the society stereotype.
  7. enterprise
    an organization created for business ventures
    In other words, a crack gang works pretty much like the standard capitalist enterprise: you have to be near the top of the pyramid to make a big wage.
  8. rhetoric
    using language effectively to please or persuade
    Notwithstanding the leadership’s rhetoric about the family nature of the business, the gang’s wages are about as skewed as wages in corporate America.
  9. immutable
    not subject or susceptible to change or variation
    These budding drug lords bumped up against an immutable law of labor: when there are a lot of people willing and able to do a job, that job generally doesn’t pay well.
  10. mettle
    the courage to carry on
    One of the few ways that a foot soldier could distinguish himself—and advance in the tournament—was by proving his mettle for violence.
  11. acumen
    shrewdness shown by keen insight
    J. T. once showed his ledgers to the board of directors to prove, as if proof were needed, the extent of his business acumen.
  12. panache
    distinctive and stylish elegance
    Beloved by rock stars and movie stars, ballplayers and even the occasional politician, cocaine was a drug of power and panache.
  13. aficionado
    a serious devotee of some activity, genre, or performer
    Meanwhile, cocaine dealers and aficionados across the country, and perhaps also in the Caribbean and South America, were working on a safer version of distilled cocaine.
  14. impunity
    exemption from punishment or loss
    He liked to say that the CIA was in turn watching his back in the United States, allowing him to sell cocaine with impunity.
  15. exacerbate
    make worse
    Although the rise of this crime wave long predated crack, the trend was so exacerbated by crack that criminologists got downright apocalyptic in their predictions.
Created on Mon Mar 07 19:43:49 EST 2016 (updated Mon Aug 04 14:58:01 EDT 2025)

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