Economic Facts and Fallacies: Second Edition

This book consistently surprises and delights the reader with hard facts neglected by popular commentators, talking heads in the media, and those whose political self-interest lies in painting a picture of growing economic inequality. It's a real pleasure to be shown the other side of the argument in so many cases, and to witness how selective presentation of evidence has distorted the debate on identity politics for so long. For example, - there is a popular myth that household income has fallen in the last 50 years in some communities. But Sowell shows us that this is because household sizes have shrunk, not because wages have fallen. - The gap in income between the bottom 20% and the top 20% has risen. But this is partially because government benefits are not factored into "income". Neither are assets or the benefits accruing from them; a 70 year old homeowner may have a lower income than a 20 year old apartment renter, but it is fallacious to say the former is "worse off" than the latter. - Very few of the same people in the top 20% 30 years ago are still in the top 20% - most have fallen out of it. And many who were in the bottom 20% 30 years ago have risen out of it. The same applies to countries too. A couple of criticisms; - Firstly, Sowell often discusses only his side of the argument in an effort to prove his point. This kind of protectionism isn't needed; his arguments are stronger than those he is criticising. He should be more willing to present both sides with equal prominence and let the reader realise where the balance lies. But you can't really blame him for doing this given the highly politicised academic environment he works in. Secondly, the prose style is a little abstruse. Sowell doesn't indicate the start - or end - of his sub-clauses very clearly, so you occasionally have to re-read sentences a few times to fully understand them. But this is nit-picking. Overall this book is a welcome, refreshing antidote to the groupthink infecting our education system. Conservatives will welcome the solid intellectual nourishment. Liberals will benefit from some variation in their diet.

Excellent book

Everything you believe about the world is wrong. That's the way I'd sum up this book. Dr Sowell shows clearly how most of the beliefs circulating in our society have no basis in truth or facts. Reading this book is enraging, enlightening, despairing, and motivating all at once (and yes, enjoyable). There's two ways to walk away from this book: 1) To believe that humanity is doomed, or 2) To believe that whilst people are so very wrong about a lot of things, we can help them see the light. I fall into the latter camp. And I hope you will too. Overall, a tour de force from Dr Sowell. If you only read one book this year, make it this one. You will never look at the world the same way again.

In clear, concise explanations this book clears the misconceptions and fallacies about the economy that are spread daily in the media.

Covers a number of topics and explains what the facts are and what people especially many in the media/politics believe or say, explains where a fallacy comes from and why. Thomas Sowell is willing to accept that just because there is a correlation doesn't mean to say what is the definitive causal reason, but will give you his reasons for believing it could be. This is the third book of his that I've read and all have been exceedingly well written and give you links if you wish to check things. I highly recommend it to anyone interested in opening their minds to a different view, if you have a set view of economics/politics open your mind and challenge what he says don't just discount it.

In this gem of a book Thomas Sowell destroys the basis on which much of modern political ideology depends. He does so by firstly questioning the rationale routinely advanced to support this mainstream position before testing his approach through a carefully balanced examination of the data. This should be compulsory reading for all modern students, although of course the professors and teachers will need to read it first because far too many of them are committed advocates of this artful and damaging drivel. Thank you Mr Sowell.

I think everyone needs to read this as will help average person to get rid of boring excuses of you can do or not. Also should be guide for governments what is actually financially relevant and beneficial for local areas In short is eye opening

Thomas Sowell wisdom, together with data and statistics make this book a masterpiece. The way things are described with simplicity make this book unbelievably great to read. Can't stop read it.

De manera clara y con ejemplos/datos demuestra muchas falacias y hechos históricos y relevantes en discusiones muy actuales. Muy recomendable para entender las razones de algunas interpretaciones o falacias sobre estos temas.

Leitura indispensável para quem se interessa por verdades, e não apenas opiniões de pseudo intelectuais.

Good book

ottimo, illuminante, scritto con linguaggio semplice e chiaro, usando dati e ragionamento, dimostra che molte delle teorie economiche imperanti sono fallaci e frutto di ideologie politiche e come tali ostacoli alla crescita economica.

Excellent read - full of actual facts that counter false narratives.