Economic Facts and Fallacies: Second Edition
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 author’s Basic Economics, this latest book is able to go into greater depth, with real world examples, on specific issues.
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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