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Synopsis
Thomas Sowell “both surprises and overturns received wisdom” in this indispensable examination of widespread economic fallacies (The Economist)
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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About the Author
Thomas Sowell is a Senior Fellow at the Hoover Institution, Stanford University. For more than half a century, his writings have appeared in both popular and scholarly publications, on both sides of the Atlantic, and his books have been translated into a dozen foreign languages. After a career as an economist in the government, academia and the corporate world, he has since 1980 been a scholar in residence at the Hoover Institution, devoting his efforts to research and writing, on subjects ranging from the history and influence of intellectuals to education and social policies in countries around the world. His website is www.tsowell.com.
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