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. Many of these fallacies are not simply crazy ideas. They have a certain plausibility that gives them their staying power, making it necessary—and sometimes humorous—to carefully examine their flaws. Sowell holds these beliefs under the microscope and draws conclusions that are sure to inspire rigorous debate.
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"Simply outstanding. I always enjoy Sowell's columns, and this book does not disappoint. Very readable for a book that's heavy in statistics. Particularly enjoyed the explanations of why real estate is so expensive in San Francisco, why urban sprawl isn't bad, and what the "real" income disparity is between men and women. (If you have a college age child, skip the chapter on Academia, you're better off not knowing.) Made me realize I've been hoodwinked by some of the statistics."
— Terrie (5 out of 5 stars)
“Sowell marshals his arguments with admirable clarity and authority. There is not a chapter in which he does not produce a statistic that both surprises and overturns received wisdom.”
— Economist“From one of America’s most noted conservative economists, a short, original book that offers some unconventional ideas about how to think about common economic topics.”
— Baltimore Sun“This readable volume is a useful primer exposing how economics relates to the social issues that affect our country.”
— Publishers Weekly“Sowell’s book dismantles many of the pervasive fallacies running rampant in politics today, broken into categories of urban life, academia, income, race, and the problems of the third world…as in his other work, Sowell makes a persuasive and powerful case, armed with a solid arsenal of statistics, numbers, and historical facts.”
— RealClearPolitics.com" An indictment of just about everything a politician has ever told you about economics. "
— Josh, 2/10/2014" I can't seem to get enough of Thomas Sowell these days. David Mamet called him "our greatest contemporary philosopher" in his conservative coming-out essay, and he might be right. This book is particularly timely to read in an election year, as Sowell clearly and concisely cuts through the plausible-sounding economic fallacies that have given rise to so many counter-productive and destructive policies for so many years. "
— Andrew, 2/1/2014" The "Sage of Palo Alto" delivers once again. Sowell is able to glean information from literally thousands of sources and provide them in a succinct manner. The book properly illustrates many of the false beliefs the general public holds and the misleading statistics behind them. Like all of Sowell's books, it is very thought provoking, but not an electrifying experience. He is the most dispassionate, yet still intriguing and fun, author I have ever come across. "
— Jake, 1/31/2014" I book-marked about the entire book on the Kindle. I think this should be a required read to get into congress. "
— Tyler, 1/27/2014" Great insight in how excepted ideas and policies are just wrong and harmful. Easy to understand and well written. "
— Ger, 1/25/2014" Excellent book! An important read for everyone. "
— Caroline, 1/18/2014" After years of reading Sowells columns I have learned that the best economic policy is for the government to get out of the way. Something this congress should have learned about $2 trillion ago but I guess that's what happens when you have a bunch of lawyers running the show. "
— Dennis, 1/12/2014" A bit dated, but timeless teachings. "
— Rsoeffker, 1/6/2014" This book discusses some commonly held misconceptions and disproves them with economic facts and statistics. Some of the topics were definately more interesting to me than others, but the entire book was a worthwhile read. "
— Emily, 11/7/2013" Sowell is terrific, and this book is highly informative. "
— Cyndie, 11/3/2013" I'm barely into this book, but I love it. Thomas Sowell has a great mind and is talented at researching and presenting facts. He disproves many economic myths without resorting to graphs and technical jargon. It's a great read that doesn't require any prior knowledge of economics. "
— Dustyn, 3/14/2013" Excellent book, love Sowell's prospective. "
— Phillip, 2/5/2013" Although a bit heavy at times, I love anything that challenges my premonitions with cold hard facts. "
— Patrick, 11/23/2012" No. I'm sorry. It's too dry and uninteresting to capture a non-economist's attention. It's too simple for an economist. Perhaps it would be valuable to a historian of economics. And while trying to show the fallacies through real-life examples it ignores social policy a bit too much. "
— Moominboy, 12/27/2011" Great read for people that like to argue "
— Jeremy, 12/12/2011" Love Mr. Sowell books!!! Always a great read. "
— Mirandy, 10/12/2011" Not as much fun as New Ideas from Dead Economists, but still a good read. Lots of good information and examples. "
— Fritz, 9/22/2011" I already had prior economic knowledge before reading this book, so it was alright. "
— Tuzoanime, 5/3/2011" In his usual clarity, Thomas Sowell takes assumptions and shows us how misrepresentations happen. I find myself looking at all statistics differently now - trying to take into account the fact that more than one variable can affect these statistics. "
— Sheila, 1/9/2011" This was a great book on macro economics and explains why the government can't fix things only create economic problems. "
— Mark, 7/8/2010" No. I'm sorry. It's too dry and uninteresting to capture a non-economist's attention. It's too simple for an economist. Perhaps it would be valuable to a historian of economics. And while trying to show the fallacies through real-life examples it ignores social policy a bit too much. "
— Moominboy, 6/28/2010" An interesting read if you can deal with detailed numbers. Not sure how much I take for facts but it does go to show that any data can be missleading, which I think is the main point of the book. "
— Keith, 1/25/2010" Parts of this were very good. It's more well-researched than a lot of these types of books, which I like. A few chapters were a little slow, otherwise I'd give it 5 stars. "
— Brandon, 1/14/2010" Thomas Sowell is so stinking smart. He explains economics in a way that anyone could comprehend. "
— Cstewart74, 1/7/2010" I bought this book as a Christmas gift for my dad but read it first. <br/> <br/>Enjoyed the book and hate to give it up, but it went to a good home. "
— Michael, 12/1/2009Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. He is the author of dozens of books and the recipient of various awards, including the National Humanities Medal, presented by the president of the United States in 2003.
Jeff Riggenbach (1947-2021) narrated numerous titles for Blackstone Audio and won an AudioFile Earphones Award. An author, contributing editor, and producer, he worked in radio in San Francisco for more than thirty years, earning a Golden Mike Award for journalistic excellence.