Economic Facts and Fallacies

276 Pages · 2009 · 3.83 MB · English

  • Economic Facts and Fallacies

    E c o n o m ie



    Thomas Sowell

    Author of Basic Economics $26.00 US / $31.50 CAN

    w economic Facts and Fallacies is designed for

    m T people who want to understand economic issues

    M # without getting bogged down in economic

    jargon, graphs, or political rhetoric.

    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.

    Economic Facts and Fallacies 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

    (and 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. Thomas Sowell

    has taught economics at

    Cornell, UCLA, Amherst, and other academic instituxad

    tions, and his Basic Economics has been translated into six

    languages. He has written books and articles on a wide

    range of other social issues as well. During his career

    Dr. Sowell has been an economist in government, in

    private industry, and in independent research organizations

    ("think tanks"). The honors he has received include the

    National Humanities Medal, the Bradley Foundation

    Prize, and honorary degrees from various academic instixad

    tutions. He is currently a scholar-in-residence at the

    Hoover Institution, Stanford University.

    12/07 ECONOMICS


    Economic Facts

    and Fallacies

    "Simply on the basis of the byline, I read everything Thomas Sowell writes. And it keeps

    me busy because he writes a lot. But I'm always richly rewarded, as I was once again when

    I picked up Economic Facts and Fallacies. 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 cant think of a higher compliment than that."

    — FRED BARNES, Executive Editor of the Weekly Standard and co-host of

    The Beltway Boys on Fox News Channel

    uEconomic Facts and Fallacies is the kind of book lesser lights would have labored for years

    to produce. Full of pithy and useful data, and imbued with the wisdom of a lifetime of ecoxad

    nomic analysis, this is another home run for the sage of Palo Alto."

    — MONA CHAREN, nationally syndicated columnist

    $26.00 US/$31.50 CAN

    ISBN-13: T76-0-HbS-0D3MT-S

    ISBN-10: 0-HtS-0D3MT-M

    5 2 6 0 0

    A Member of the Perseus Books Group


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    F a l l a c i es E C O N O M IC

    F A C TS

    A ND

    F A L L A C I ES

    T H O M AS S O W E LL



    A Member of the Perseus Books Group

    New York Copyright © 2008 by Thomas Sowell

    Published by Basic Books,

    A Member of the Perseus Books Group

    All rights reserved. Printed in the United States of America. No part of this

    book may be reproduced in any manner whatsoever without written

    permission except in the case of brief quotations embodied in critical

    articles and reviews. For information, address

    Basic Books, 387 Park Avenue South, New York, NY 10016-8810.

    Books published by Basic Books are available at special discounts for bulk

    purchases in the United States by corporations, institutions, and other

    organizations. For more information, please contact the Special

    Markets Department at the Perseus Books Group,

    11 Cambridge Center, Cambridge MA 02142, or call (617) 252-5298

    or (800) 255-1514, or e-mail special.markets@perseusbooks.com.

    Library of Congress Cataloging-in-Publication Data

    Sowell, Thomas, 1930-

    Economic facts and fallacies / Thomas Sowell.

    p. cm.

    Includes bibliographical references and index.

    ISBN-13: 978-0-465-00349-5 (alk. paper)

    ISBN-10: 0-465-00349-4 (alk. paper)

    1. Economics. I. Title.

    HB171.S7133 2008



    10 9876543 Facts are stubborn things; and whatever may

    be our wishes, our inclinations, or the dictates

    of our passions, they cannot alter the state of

    facts and evidence.

    John Adams


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