Economic facts and fallacies review

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economic facts and fallacies review

Economic Facts and Fallacies by Thomas Sowell

Economic Facts and Fallacies exposes some of the most popular fallacies about economic issues-and does so in a lively manner and without requiring any prior knowledge of economics by the reader. These include many beliefs widely disseminated in the media and by politicians, such as mistaken ideas about urban problems, income differences, male-female economic differences, as well as economics fallacies about academia, about race, and about Third World countries. One of the themes of Economic Facts and Fallacies is that fallacies are not simply crazy ideas but in fact have a certain plausibility that gives them their staying power-and makes careful examination of their flaws both necessary and important, as well as sometimes humorous. Written in the easy-to-follow style of the authors Basic Economics, this latest book is able to go into greater depth, with real world examples, on specific issues.
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Economic Analysis: Thomas Sowell's Economic Facts and Fallacies (2008)

Economic Facts and Fallacies: Second Edition

He has published both scholarly and popular articles and books on economics and is currently a scholar in residence at the Hoover Institution, Stanford University. When economic ideas are shared in the media and politics, how can we know fact from fallacy? Surprisingly, many of the things heard are fallacies. Consider this summary for an explanation of many of the fallacious ideas examined against the facts we have. The real power of fallacies is that they do not look like crazy ideas. They are usually ideas that appear to be plausible and logical. But what separates a fallacy from a fact is scrutiny.

What's Inside

"Economic Facts and Fallacies" by Thomas Sowell (Book Review)

Tamara Wilhite is a technical writer, industrial engineer, mother of two, and a published sci-fi and horror author. What are the strengths and weaknesses of this book? How does it compare to his other major works? Thomas Sowell draws on sources far beyond one study or another to create a comprehensive basis for his refutation of major economic fallacies. For example, instead of just looking at the negative impact of rent control in New York City and San Francisco, he also looks at the problems it caused in Egypt. His critique of the idea that minimum wage helps the poor when it actually increases unemployment pulls from examples from Europe to the United States. Instead of simply critiquing fallacies like the minimum wage, rent control and other unproductive or counter-productive policies, he explains why these fallacies exist.

Bradley Doucet is a writer living in Montreal. He has studied philosophy and economics, and is currently completing a novel on the pursuit of happiness. He also is QL 's English Editor. What his book lacks in sex appeal and with a plain black and white cover and unimaginative chapter titles, it is a lot less glitzy than the other two books mentioned above it more than makes up for in pertinent information. I really do not want to knock those other successful, enjoyable, and informative books—the more people learn about economics, the better—but whereas Levitt and Dubner devote significant pages to minutia like baby names, sumo wrestlers, and game show contestants, and Harford delves into the intricacies of coffee prices and auctions, Sowell gives us six lean, meaty chapters on cities, gender, academia, income, race, and the Third World.

Cancel anytime. Marxism is a term that many people freely use, but few seem to grasp its implications. Sowell's book is the antidote to this problem. He writes in a fluid and easy-to-follow manner, leading the listener through the Marxian scheme of ideas. Along the way, he shatters some existing interpretations of Marx-interpretations that have developed through repetition rather than through scholarship. Discrimination and Disparities challenges believers in such one-factor explanations of economic outcome differences as discrimination, exploitation, or genetics.

3 thoughts on “Economic Facts and Fallacies by Thomas Sowell

  1. Reviewed by: Economic Facts and Fallacies. Peter F. Orazem. Thomas Sowell. Economic Facts and Fallacies. New York: Basic Books,

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