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Small changes can have big effects from "summary" of Freakonomics by Steven D. Levitt
In the world of economics, there is a fundamental concept that often goes overlooked by the general public: the idea that small changes can have big effects. This concept, known as the butterfly effect, is based on the notion that seemingly insignificant actions or events can lead to significant and far-reaching consequences. One of the best examples of this concept can be found in the story of a group of teenage girls in a high school in Chicago. These girls were struggling academically, and their teachers were at a loss for how to help them improve. However, one teacher decided to make a small change: she offered the girls a cash incentive for every book they read and every test they passed. This seemingly minor change had a profound impact on the girls' academic performance. Not only did their grades improve dramatically, but their overall behavior and attitude towards school also changed for the better. The simple act of providing a financial incentive for academic achievement had a ripple effect that transformed these girls' lives. Another example of the power of sma...
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