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Publisher's Summary

Economic Facts and Fallacies is designed for people who want to understand economic issues without getting bogged down in economic jargon, graphs, or political rhetoric. Writing in a lively manner that does not require any prior knowledge of economics, Thomas Sowell exposes some of the most popular fallacies about economic issues, including many that are widely disseminated in the media and by politicians: fallacies about urban problems, income differences, male-female economic differences, academia, race, and Third World countries. While all of these fallacies have a certain plausibility that gives them their staying power, this makes it even more important to carefully examine their flaws. Sowell holds these beliefs under the microscope and draws conclusions that are sure to inspire rigorous debate.
©2008 Blackstone Audio, Inc. (P)2008 Blackstone Audio, Inc.
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Critic Reviews

"Sowell is fearless and invariably so far ahead of the curve in discussing economics or politics or pretty much anything that the rest of us are left with eating his intellectual dust. I can't think of a higher compliment that that." (Fred Barnes, Executive Editor, Weekly Standard)
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Customer Reviews

Most Helpful

By Donald on 09-10-10

Not for closed minds

If you have an open mind, then this book is for you. It will confirm many of your beliefs and possibility challenge some others. But be forewarned, this book covers such as wide variety of topics that there is a good chance that you will find yourself on the wrong side of at least one good argument. What matters most is that you grow from the experience.

The book covers a number of topics. These include rush hour traffic, real estate prices in California, CEO pay, college personnel pay, pay by gender, crime in cities, urban slums, slavery outside North America, foreign aid, third world countries, and discrimination. Usually a chapter is devoted to a topic. Each topic contains many questions. Supporting information comes from history, census data, and other economic sources. For example, the lives of the Indians changed when the European settlers brought horses to North America.

Since 2008, many economic facts still ring true. In August, 2010, Beijing has a ten day traffic jam. California real estate prices are still high. CEOs still get paid a lot. The earthquake in Haiti reveals a poor government. Nigeria does not protect its oil industry. The nationalization of the oil and gas industry does not make a country rich.

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23 of 24 people found this review helpful

By Hayyamini on 07-02-09

Everything everyone needs to know about economics

This book will force you to think through the economic dogma you have been fed all your life. Much of what you thought you knew, you will realize, was indeed fallacious.

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10 of 10 people found this review helpful

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