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| thomas sowell economic facts and fallacies: Economic Facts and Fallacies Thomas Sowell, 2011-03-22 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. |
| thomas sowell economic facts and fallacies: Economic Facts and Fallacies Thomas Sowell, 2011-03-22 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. |
| thomas sowell economic facts and fallacies: Applied Economics Thomas Sowell, 2008-12-09 The application of economics to major contemporary real world problems -- housing, medical care, discrimination, the economic development of nations -- is the theme of this new book that tackles these and other issues head on in plain language, as distinguished from the usual jargon of economists. It examines economic policies not simply in terms of their immediate effects but also in terms of their later repercussions, which are often very different and longer lasting. The interplay of politics with economics is another theme of Applied Economics, whose examples are drawn from experiences around the world, showing how similar incentives and constraints tend to produce similar outcomes among very disparate peoples and cultures. |
| thomas sowell economic facts and fallacies: The Housing Boom and Bust Thomas Sowell, 2009-05-12 Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The creative financing of home mortgages and creative marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed. |
| thomas sowell economic facts and fallacies: A Personal Odyssey Thomas Sowell, 2001-02-28 This is the gritty story of one man's lifelong education in the school of hard knocks, as his journey took him from Harlem to the Marines, the Ivy League, and a career as a controversial writer, teacher, and economist in government and private industry. It is also the story of the dramatically changing times in which this personal odyssey took place. The vignettes of the people and places that made an impression on Thomas Sowell at various stages of his life range from the poor and the powerless to the mighty and the wealthy, from a home for homeless boys to the White House, as well as ranging across the United States and around the world. It also includes Sowell's startling discovery of his own origins during his teenage years. If the child is father to the man, this memoir shows the characteristics that have become familiar in the public figure known as Thomas Sowell already present in an obscure little boy born in poverty in the Jim Crow South during the Great Depression and growing up in Harlem. His marching to his own drummer, his disregard of what others say or think, even his battles with editors who attempt to change what he has written, are all there in childhood. More than a story of the life of Sowell himself, this is also a story of the people who gave him their help, their support, and their loyalty, as well as those who demonized him and knifed him in the back. It is a story not just of one life, but of life in general, with all its exhilaration and pain. |
| thomas sowell economic facts and fallacies: Basic Economics Thomas Sowell, 2014-12-02 The bestselling citizen's guide to economics Basic Economics is a citizen's guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions. This fifth edition includes a new chapter explaining the reasons for large differences of wealth and income between nations. Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English. |
| thomas sowell economic facts and fallacies: Intellectuals and Race Thomas Sowell, 2013-03-12 Intellectuals and Race is a radical book in the original sense of one that goes to the root of the problem. The role of intellectuals in racial strife is explored in an international context that puts the American experience in a wholly new light. The views of individual intellectuals have spanned the spectrum, but the views of intellectuals as a whole have tended to cluster. Indeed, these views have clustered at one end of the spectrum in the early twentieth century and then clustered at the opposite end of the spectrum in the late twentieth century. Moreover, these radically different views of race in these two eras were held by intellectuals whose views on other issues were very similar in both eras. Intellectuals and Race is not, however, a book about history, even though it has much historical evidence, as well as demographic, geographic, economic and statistical evidence-- all of it directed toward testing the underlying assumptions about race that have prevailed at times among intellectuals in general, and especially intellectuals at the highest levels. Nor is this simply a theoretical exercise. The impact of intellectuals' ideas and crusades on the larger society, both past and present, is the ultimate concern. These ideas and crusades have ranged widely from racial theories of intelligence to eugenics to social justice and multiculturalism. In addition to in-depth examinations of these and other issues, Intellectuals and Race explores the incentives, the visions and the rationales that drive intellectuals at the highest levels to conclusions that have often turned out to be counterproductive and even disastrous, not only for particular racial or ethnic groups, but for societies as a whole. |
| thomas sowell economic facts and fallacies: Ethnic America Thomas Sowell, 2008-08-01 This classic work by the distinguished economist traces the history of nine American ethnic groups -- the Irish, Germans, Jews, Italians, Chinese, African-Americans, Puerto Ricans, and Mexicans. |
| thomas sowell economic facts and fallacies: The Thomas Sowell Reader Thomas Sowell, 2011-10-04 These selections from the many writings of Sowell over a period of a half century cover social, economic, cultural, legal, educational, and political issues. The sources range from Dr. Sowell's letters, books, and newspaper columns, to articles in both scholarly journals and popular magazines. |
| thomas sowell economic facts and fallacies: Ever Wonder Why? Thomas Sowell, 2013-09-01 Thomas Sowell takes aim at a range of legal, social, racial, educational, and economic issues in this latest collection of his controversial, never boring, always thought-provoking essays. From gun control myths to mealy mouth media to free lunch medicine, Sowell gets to the heart of the matters we all care about with his characteristically unsparing candor. |
| thomas sowell economic facts and fallacies: Wealth, Poverty and Politics Thomas Sowell, 2016-09-06 In Wealth, Poverty, and Politics, Thomas Sowell, one of the foremost conservative public intellectuals in this country, argues that political and ideological struggles have led to dangerous confusion about income inequality in America. Pundits and politically motivated economists trumpet ambiguous statistics and sensational theories while ignoring the true determinant of income inequality: the production of wealth. We cannot properly understand inequality if we focus exclusively on the distribution of wealth and ignore wealth production factors such as geography, demography, and culture. Sowell contends that liberals have a particular interest in misreading the data and chastises them for using income inequality as an argument for the welfare state. Refuting Thomas Piketty, Paul Krugman, and others on the left, Sowell draws on accurate empirical data to show that the inequality is not nearly as extreme or sensational as we have been led to believe. Transcending partisanship through a careful examination of data, Wealth, Poverty, and Politics reveals the truth about the most explosive political issue of our time. |
| thomas sowell economic facts and fallacies: On Classical Economics Thomas Sowell, 2007-01-01 A reexamination of classical economic theory and methods, by a senior economist of international stature Thomas Sowell's many writings on the history of economic thought have appeared in a number of scholarly journals and books, and these writings have been praised, reprinted, and translated in various countries around the world. The classical era in the history of economics is an important part of the history of ideas in general, and its implications reach beyond the bounds of the economics profession. On Classical Economics is a book from which students can learn both history and economics. It is not simply a Cook's tour of colorful personalities of the past but a study of how certain economic concepts and tools of analysis arose, and how their implications were revealed during the controversies that followed. In addition to a general understanding of classical macroeconomics and microeconomics, this book offers special insight into the neglected pioneering work of Sismondi--and why it was neglected--and a detailed look at John Stuart Mill's enigmatic role in the development of economics and the mysteries of Marxian economics. Clear, engaging, and very readable, without being either cute or condescending, On Classical Economics can enable a course on the history of economic thought to make a contribution to students' understanding of economics in general--whether in price theory, monetary theory, or international trade. In short, it is a book about analysis as well as history. |
| thomas sowell economic facts and fallacies: Dismantling America Thomas Sowell, 2010-08-10 Sowell delivers a broad-based and withering critique of America's current trajectory, in this collection of essays. |
| thomas sowell economic facts and fallacies: Economic Fallacies Frederic Bastiat, 2001-08-16 This book, written by the celebrated nineteenth century French economist propagating free trade, reads as it was written yesterday. |
| thomas sowell economic facts and fallacies: The Quest for Cosmic Justice Thomas Sowell, 2001-06-30 This book is about the great moral issues underlying many of the headline-making political controversies of our times. It is not a comforting book but a book about disturbing and dangerous trends. The Quest for Cosmic Justice shows how confused conceptions of justice end up promoting injustice, how confused conceptions of equality end up promoting inequality, and how the tyranny of social visions prevents many people from confronting the actual consequences of their own beliefs and policies. Those consequences include the steady and dangerous erosion of fundamental principles of freedom -- amounting to a quiet repeal of the American revolution. The Quest for Cosmic Justice is the summation of a lifetime of study and thought about where we as a society are headed -- and why we need to change course before we do irretrievable damage. |
| thomas sowell economic facts and fallacies: Discrimination and Disparities Thomas Sowell, 2018-03-20 An empirical examination of how economic and other disparities arise Economic and other outcomes differ vastly among individuals, groups, and nations. Many explanations have been offered for the differences. Some believe that those with less fortunate outcomes are victims of genetics. Others believe that those who are less fortunate are victims of the more fortunate. Discrimination and Disparities gathers a wide array of empirical evidence from to challenge the idea that different economic outcomes can be explained by any one factor, be it discrimination, exploitation or genetics. It is readable enough for people with no prior knowledge of economics. Yet the empirical evidence with which it backs up its analysis spans the globe and challenges beliefs across the ideological spectrum. The point of Discrimination and Disparities is not to recommend some particular policy fix at the end, but to clarify why so many policy fixes have turned out to be counterproductive, and to expose some seemingly invincible fallacies--behind many counterproductive policies. |
| thomas sowell economic facts and fallacies: Preferential Policies Thomas Sowell, 1990 Covers government-mandated preferences for government-designated groups ... with special attention to programs in India, Nigeria, Malaysia, Sri Lanka, and the United States. |
| thomas sowell economic facts and fallacies: Maverick Jason Riley, 2021-05-25 A biography of Thomas Sowell, one of America's most influential conservative thinkers Thomas Sowell is one of the great social theorists of our age. In a career spanning more than a half century, he has written over thirty books, covering topics from economic history and social inequality to political theory, race, and culture. His bold and unsentimental assaults on liberal orthodoxy have endeared him to many readers but have also enraged fellow intellectuals, the civil-rights establishment, and much of the mainstream media. The result has been a lack of acknowledgment of his scholarship among critics who prioritize political correctness. In the first-ever biography of Sowell, Jason Riley gives this iconic thinker his due and responds to the detractors. Maverick showcases Sowell's most significant writings and traces the life events that shaped his ideas and resulted in a Black orphan from the Jim Crow South becoming one of our foremost public intellectuals. |
| thomas sowell economic facts and fallacies: Black Rednecks and White Liberals Thomas Sowell, 2010-09-17 This explosive new book challenges many of the long-prevailing assumptions about blacks, about Jews, about Germans, about slavery, and about education. Plainly written, powerfully reasoned, and backed with a startling array of documented facts, Black Rednecks and White Liberals takes on not only the trendy intellectuals of our times but also suc... |
| thomas sowell economic facts and fallacies: Basic Economics Thomas Sowell, 2001 At last there is a citizen's guide to the economy, written by an economist who uses plain English. No jargon, no graphs, no equations. Yet this is a comprehensive survey, covering everything from rent control and the rise and fall of businesses to the international balance of payments.The purpose of Basic Economics is to enable people without any economic training to understand the way the economy functions-not only the American economy, but other economies around the world.Some of the clearest demonstrations of the role of prices, for example, come from economies in which prices are not allowed to function-with consequences which show just what those functions are and what happens when they are lacking.In the end, this is not a book from which to cram facts, but one from which to gain an understanding of the economy that will enable you to form your own conclusions on the basis of tested principles, rather than on the basis of emotion or rhetoric. That is the goal of the journey, but you should also enjoy the trip along the way. |
| thomas sowell economic facts and fallacies: Fire and Hemlock Diana Wynne Jones, 2012-12-06 In the mind of a lonely, imaginative girl, who can tell where fiction ends and reality begins? An epic fantasy, spanning nine years... |
| thomas sowell economic facts and fallacies: The Vision Of The Annointed Thomas Sowell, 2019-07-23 One of America’s pre-eminent economists offers a provocative critique of the failures of liberalism In The Vision of the Anointed, Thomas Sowell presents a devastating critique of the mind-set behind the failed social policies of the past thirty years. Sowell sees what has happened during that time not as a series of isolated mistakes but as a logical consequence of a tainted vision whose defects have led to crises in education, crime, and family dynamics, and to other social pathologies. In this book, he describes how elites—the anointed—have replaced facts and rational thinking with rhetorical assertions, thereby altering the course of our social policy. |
| thomas sowell economic facts and fallacies: Conquests and Cultures Thomas Sowell, 2021-08-10 This book is the culmination of 15 years of research and travels that have taken the author completely around the world twice, as well as on other travels in the Mediterranean, the Baltic, and around the Pacific rim. Its purpose has been to try to understand the role of cultural differences within nations and between nations, today and over centuries of history, in shaping the economic and social fates of peoples and of whole civilizations. Focusing on four major cultural areas(that of the British, the Africans (including the African diaspora), the Slavs of Eastern Europe, and the indigenous peoples of the Western Hemisphere -- Conquests and Cultures reveals patterns that encompass not only these peoples but others and help explain the role of cultural evolution in economic, social, and political development. |
| thomas sowell economic facts and fallacies: Affirmative Action Around the World Thomas Sowell, 2004-01-01 An eminent authority presents a new perspective on affirmative action in a provocative book that will stir fresh debate about this vitally important issue |
| thomas sowell economic facts and fallacies: Late-Talking Children Thomas Sowell, 2008-08-04 The painful and baffling mystery as to why some obviously bright children do not begin talking until long after the normal time is explored in this book through personal experiences and the findings of scientific research. The author's own experiences as the father of such a child led to the formation of a goup of more than fifty sets of parents of similar children. The anguish and frustration of these parents as they try to cope with children who do not talk and institutions that do not understand them is a remarkable and moving human story. Fortunately, some of these children turn out to have not only normal intelligence but even outstanding abilities, especially in highly analytical fields such as mathematics and computers. These fascinating stories of late-talking children and the remarkable families from which they come are followed by explorations of scientific research that throw light on unusual development patterns. |
| thomas sowell economic facts and fallacies: Race And Culture Thomas Sowell, 2025-04-01 Encompassing more than a decade of research around the globe, this book shows that cultural capital has far more impact than politics, prejudice, or genetics on the social and economic fates of minorities, nations, and civilization. |
| thomas sowell economic facts and fallacies: Controversial Essays Thomas Sowell, 2013-09-01 One of conservatism's most articulate voices dissects today's most important economic, racial, political, education, legal, and social issues, sharing his entertaining and thought-provoking insights on a wide range of contentious subjects. --This book contains an abundance of wisdom on a large number of economic issues. --Mises Review |
| thomas sowell economic facts and fallacies: Some Thoughts about Writing Thomas Sowell, 2001 Thomas Sowell gives you his ins and outs about writing. He describes the challenge of dealing with publishers, copy-editors, and book reviewers. |
| thomas sowell economic facts and fallacies: Migrations And Cultures Thomas Sowell, 1997-02-21 Most commentators look at the issue of immigration from the viewpoint of immediate politics. In doing so, they focus on only a piece of the issue and lose touch with the larger picture. Now Thomas Sowell offers a sweeping historical and global look at a large number of migrations over a long period of time.Migrations and Cultures: shows the persistence of cultural traits, in particular racial and ethnic groups, and the role these groups' relocations play in redistributing skills, knowledge, and other forms of “human capital.” answers the question: What are the effects of disseminating the patterns of the particular set of skills, attitudes, and lifestyles each ethnic group has carried forth—both for the immigrants and for the host countries, in social as well as economic terms? |
| thomas sowell economic facts and fallacies: Knowledge And Decisions Thomas Sowell, 2022-01-04 With a new preface by the author, this reissue of Thomas Sowell's classic study of decision making updates his seminal work in the context of The Vision of the Annointed, Sowell, one of America's most celebrated public intellectuals, describes in concrete detail how knowledge is shared and disseminated throughout modern society. He warns that society suffers from an ever-widening gap between firsthand knowledge and decision making—a gap that threatens not only our economic and political efficiency, but our very freedom because actual knowledge gets replaced by assumptions based on an abstract and elitist social vision f what ought to be.Knowledge and Decisions, a winner of the 1980 Law and Economics Center Prize, was heralded as a ”landmark work” and selected for this prize ”because of its cogent contribution to our understanding of the differences between the market process and the process of government.” In announcing the award, the center acclaimed Sowell, whose ”contribution to our understanding of the process of regulation alone would make the book important, but in reemphasizing the diversity and efficiency that the market makes possible, [his] work goes deeper and becomes even more significant.” |
| thomas sowell economic facts and fallacies: Faulty Premises, Faulty Policies Gary Galles, 2014-04 Faulty Premises, Faulty Policies by Gary Galles is an incredibly good guide to showing precisely what is nonsensical about political debate. How many times have you watched a public policy fiasco and been mystified as to how the politicians can believe their own rhetoric? They talk about how raising the minimum wage is going to make the poor better off, even though there is no mechanism in the nature of things to bring about that reality; about how some new war is going to rid the world of despotism, despite knowing that the history of war tends in the opposite direction; about how some new healthcare mandate is going to bring freedom from disease, and yet you know that legislation can't actually achieve anything like this. There always seems to be a missing step in the chain of logic. Politicians and pundits actually seem to believe that passing a law will generate a certain wonderful result, even though the relationship between cause and effect is nowhere present. It seems like a giant exercise in fantasy. Galles has provided an outstanding tool for navigating your way through the sea of folly that is the politics of our time. There is no anger in his prose, and there doesn't need to be. He has the arguments, the analytics, and the facts - those alone make the case. |
| thomas sowell economic facts and fallacies: Summary: Economic Facts and Fallacies BusinessNews Publishing,, 2017-01-30 The must-read summary of Thomas Sowell's book: “Economic Facts and Fallacies”. This complete summary of Economic Facts and Fallacies by Thomas Sowell, a renowned economist and social theorist, presents the author's exposure of some of the most popular economic myths that are often disseminated by the media and politicians. Added-value of this summary: • Save time • Understand how and why economic myths are often portrayed as fact • Expand your knowledge of economics To learn more, read Economic Facts and Fallacies and discover the truth behind some of the most popular and widespread economic myths. |
| thomas sowell economic facts and fallacies: Race and Economics Thomas Sowell, 1977 |
| thomas sowell economic facts and fallacies: The Science of Political Economy Henry George, 1898 |
| thomas sowell economic facts and fallacies: Naked Economics: Undressing the Dismal Science (Fully Revised and Updated) Charles Wheelan, 2010-04-19 Seeks to provide an engaging and comprehensive primer to economics that explains key concepts without technical jargon and using common-sense examples. |
| thomas sowell economic facts and fallacies: Basic Economics 2nd Ed Thomas Sowell, 2004 Outlines the principles behind each major type of economy including capitalist, socialist, and feudal, in terms of the incentives each creates. |
| thomas sowell economic facts and fallacies: Lines of Liberty Gary Galles, 2016-02-28 This is the biggest and best book of great libertarian quotes in the world. Here you will find a vast armory of the most powerful words ever uttered in defense of freedom. Professor Gary Galles puts all of the striking quotations in context with an introduction to each of the 60+ authors in the book, from David Hume to Ayn Rand. |
| thomas sowell economic facts and fallacies: The Reckoning Jacob Soll, 2014-04-29 A “brilliant” (Los Angeles Review of Books) history of accounting, showing how financial and political accountability has shaped the rise and fall of nations and empires Whether building a road or fighting a war, leaders from ancient Mesopotamia to the present have relied on financial accounting to track their state's assets and guide its policies. Basic accounting tools such as auditing and double-entry bookkeeping form the basis of modern capitalism and the nation-state. Yet our appreciation for accounting and its formative role throughout history remains minimal at best-and we remain ignorant at our peril. Poor or risky practices can shake, and even bring down, entire societies. In The Reckoning, historian and MacArthur Genius Award-winner Jacob Soll presents a sweeping history of accounting, drawing on a wealth of examples from over a millennia of human history to reveal how accounting has shaped kingdoms, empires, and entire civilizations. The Medici family of 15th century Florence used the double-entry method to win the loyalty of their clients, but eventually began to misrepresent their accounts, ultimately contributing to the economic decline of the Florentine state itself. In the 17th and 18th centuries, European rulers shunned honest accounting, understanding that accurate bookkeeping would constrain their spending and throw their legitimacy into question. And in fact, when King Louis XVI's director of finances published the crown's accounts in 1781, his revelations provoked a public outcry that helped to fuel the French Revolution. When transparent accounting finally took hold in the 19th Century, the practice helped England establish a global empire. But both inept and willfully misused accounting persist, as the catastrophic Stock Market Crash of 1929 and the Great Recession of 2008 have made all too clear. A masterwork of economic and political history, and a radically new perspective on the recent past, The Reckoning compels us to see how accounting is an essential instrument of great institutions and nations-and one that, in our increasingly transparent and interconnected world, has never been more vital. |
| thomas sowell economic facts and fallacies: Free Trade Doesn't Work: What Should Replace It and Why, 2011 Edition Barrister and Professor of International Commercial Law Ian Fletcher, Ian Fletcher, 2011-03-01 Are you wondering how Americans can compete with nations like China? Are you wondering how, if they can offshore call centers, computer programming, and accounting, there will be any good jobs left they can't offshore? Are you wondering how America can keep importing and running up debt without going bankrupt? Are you wondering how America can be a powerful nation without an industrial base? Are you wondering why the politicians keep denying all of these problems? Are you wondering whether the economics you learned in school and hear on TV is really valid? Are you wondering who you can trust? This very readable book is aimed at both ordinary concerned citizens and people with a bit of sophistication about economics. It is a systematic examination of why free trade is slowly bleeding America's economy to death and what can be done about it. It explains in detail why the standard economic arguments free traders use all the time are false, and what kind of economic ideas - well within the grasp of the average American - justify protectionism instead. It examines the history and politics of free trade and explains how America came to adopt its present disastrous free trade policy. It looks at the breakdown of specific industries and how we can rebuild them and bring millions of high-paying jobs back to this country. It examines what's wrong with NAFTA, CAFTA, the WTO, and the proposed Trans-Pacific Partnership. It is sharply critical of the current establishment, but from a bipartisan point of view, so it should satisfy progressives, conservatives, and everyone in between. Unlike many past critiques of free trade, it is economically-literate; it also explains New Trade Theory, the hot new area of economics that critiques free trade. |
| thomas sowell economic facts and fallacies: Facts and Fallacies Reader's Digest, 1989 |
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