Economic Facts and Fallacies: Second Edition
Thomas Sowell's indispensable examination of the most popular economic fallacies
In Economic Facts and Fallacies, Thomas Sowell exposes some of the most popular fallacies about economic issues in a lively manner that does not require any prior knowledge of economics. These fallacies include many beliefs widely disseminated in the media and by politicians, such as fallacies about urban problems, income differences, male-female economic differences, as well as economic fallacies about academia, about race, and about Third World countries.
Sowell shows 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.
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Economic Facts and Fallacies - Thomas Sowell "By 2001 most people defined as poor had possession once considered part of a middle class lifestyle. Three quarters of them had air-conditioning, which ... Read full review
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Abigail Thernstrom academic institutions accrediting admissions Alan Reynolds Asian Americans athletic automobiles average bottom 20 percent building businesses career Census Chronicle of Higher cities colleges and universities communities comparable costs countries created culture decade decisions declined disparities dollars earnings economic Economist employer discrimination example factors fallacy of composition families Foster City full-time given graduates groups Harvard Higher Education hiring Hispanic households housing prices Ibid incentives income brackets income differences individuals inequality land less levels living loans male-female median million Moreover mortgage mortgage loan nations neighborhoods non-profit occupations part-time people’s places policies political poor poverty production professors prosperous racial rates real income restrictions rise slavery social society statistics things Third World Thomas Sowell transportation tuition twentieth century U.S. Bureau United urban urban sprawl Wall Street Journal Washington William Easterly women workers York zero-sum fallacy