Economic Facts and Fallacies

Economic Facts and Fallacies 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

  • Title: Economic Facts and Fallacies
  • Author: Thomas Sowell
  • ISBN: null
  • Page: 259
  • Format: Kindle Edition
  • 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, aEconomic 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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    1 thought on “Economic Facts and Fallacies”

    1. This fascinating book peels away the truths from the untruths about economics in our societies. While the style of writing is rather dry, the content is quite engaging. Many commonly held beliefs are simply wrong, as can be shown easily with a few facts and some straight-forward thinking.Law school and college accreditation boards are not designed to hold schools to some acceptable standard for their students. They are designed to maintain the elite status of the so-called "top" schools, and to [...]

    2. Most of this book is just bullshit. Mainly, it's pandering to a political ideology while pointing out weaknesses (some fatal, in his defense) of statistics that are bantered around. However, he moves from "here's a weakness in this study" to "my ideology, which disagrees with this study, is now proven right". However, all this book actually does is show that nobody has real data to support their ideologies- Sowell least of all. To pretend that disproving one hypothesis proves another is the heig [...]

    3. I’m just finishing this book now so I won’t spoil the ending for you, just kidding. It really is a great book applying basic economic theories to real life situations. He spends quite a bit of time debunking economic myths and explaining the real reasons why for example, real estate near San Francisco and college tuition are so ridiculously expensive. Basically, it comes down to too much government economic control. I really do love Sowell’s logical practical approach. It’s great in cont [...]

    4. This gentleman has some points of view that are rather polarizing, but I have to say, he is very thoughtful and cites everything, which I appreciate. I disagree with his views on reverse mortgages, but other than that, I want to have this man's babies, all of them. Unfortunately, mingling my inferior intellectual DNA with his would be more of a tragedy than a positive thing, so no babies of his for me. Maybe I could be a surrogate for his clones? Seriously, he looks at things that seem completel [...]

    5. STUBBORN THINGSThomas Sowell’s remarkable book Economic Facts and Fallacies is even more remarkable for its brevity. In just over two hundred pages, he tackles and deconstructs fallacies infecting our cities, our relationships, the academy, business, race relations, and the Third World. John Adams said famously, “Facts are stubborn things.” The Austin Lounge Lizards sang, “Life is hard, but life is hardest when you’re dumb.” Both are true and one of the most difficult things in life [...]

    6. Изключително популярни напоследък са автори като Малкълм Гладуел, Стивън Левит и Тим Харфорд, които се занимават с това, което аз наричам „приложна икономика“ – използват методите на икономическата наука, като ги прилагат към всекидневни проблеми, за да разкрият, често з [...]

    7. This was a very interesting book that challenged many preconceived notions and sacred cows that continually arise in social and economic debates. The volume of evidence cited for the author's arguments made this book both exhausting to read and difficult to dismiss.While reading this book, I felt like I was back in my economics classes where the professors constantly asked the students to look deeper and not simply react to a statistic, but to really understand what factors shaped the data. Rega [...]

    8. This book lacks the increasingly popular long subtitle that most non-fiction books now sport; I would like to suggest “In Defense of the Wealthy”. Over this dense “an economist looks at…” collection of analyses of popular politic topics was a challenge to push through but worth the excursion so some degree. The advertising copy for this book includes the phrase: “Writing in a lively manner…” – I believe this would be the first fallacy.An early section of the book deals with pro [...]

    9. Pure Sowell. Same as usual. Stop interfering. Let people do what they want cause they know better than you do. Oh and things aren't as bad as everyone says.I really liked his point about traditional wives investing int he economic future of their husbands. I never thought about it that way. Probably because I never thought about it.Covers; Urban, Gender, Academic, Income, Racial, and the Third World.Quotes:"No matter how much is done to promote health, more could be done. No matter how safe thin [...]

    10. Great book - started off slow but really picked up in the last half. Sowell is a very bright guy and combed through many, many books and articles to write this book. The notes/appendix section is over 10% of the book! His writing style is very preachy but I enjoyed his insights and anecdotes. His chapters on income, race, and "third world" countries were the most interesting and the most controversial. On the income front, he does a good job dispelling the myths that the middle class is shrinkin [...]

    11. I only read about a quarter of the book and then just skimmed the rest.The book is mostly a litany of facts and anecdotes that attempt to call into question of refute some popular or commonly-held beliefs or would-be facts about economics. I think the author's thesis is that you need to look very critically at the world lest you fall into fallacious reasoning/conclusions, but this thesis is obvious and the examples are complicated, wandering, mostly uninteresting and often unconvincing. There ar [...]

    12. WELL DONE, ONCE AGAIN.“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.”—from the synopis.Thomas Sowell is the epitome of an oxymoron. Not only is he a high school dropout with a PhD; he is also one of those rarest of strange persons, a rational economist. Hi [...]

    13. Sowell is not Levitt & Dubner, their book is a fun read; however, Sowell does have the same ability to take "conventional wisdom" and peel away the superficial layers to get to what's really happening underneath. He focuses on the results, not simply the intent. Andy Stanley wrote, "It is our direction, not our intention, that determines our destination" (Principle of the Path - Highly recommended) and in Economic Facts and Fallacies, Sowell shows how our intent, coupled with misunderstandin [...]

    14. Thomas Sowell is perhaps at the forefront of conventional economics. He leads the vanguard with distinct focus and clarity. Often his books can read some what dry as he makes his point with a thoroughness which is seldom countered directly by those who could be called Statist economists.I like Sowell and have enjoyed all of his books that I have read, this one being perhaps the 'blandest'. Now I say this not to critique the man but perhaps more so as praise as to how he often delivers such compr [...]

    15. Good basic stuff here. Great chapters on the differences between men and women in the economy, race and economy, and the third world and economy.He's adequately hard on "third parties" intervening into situations where two parties will do. But I wonder if he falls prey to one of his own fallacies (the chess board fallacy) assuming a kind of interchangeability between various parties (at least on that point). He's just not addressing the hardest questions in other words. I was also fairly impress [...]

    16. This is a brilliant book. The writing is uncomplicated even when dealing with complex issues.Thomas Sowell tackles economic issues that effect many of us in the course of our lives and breaks them down to the point where we can clearly see the simple choices that people make and how dynamicallythat impacts our society.This is not dry reading. This is not boring at all.Everyone "knows" that Homes in california cost ten times more than homes in the midwest. But in 1975 the average cost of a home i [...]

    17. This is a well written and incisive analysis of economics based on false assumptions about race, education and other major areas of society by a scholar and social commentator. Sowell turns economic issues on their heads by introducing an unorthodox way of viewing inter alia poverty and race and education. Claiming that the reasons for disparities in these areas are not salvageable by government intervention, (witness LB's "war on poverty" that only served to make the poor believe that everythin [...]

    18. As the author alludes to, statistics can be used to prove opposite sides of an argument. This book makes you think about the larger issues covered, helpful if you live in the US. The main view I take is that the author has used his logic and evidence to make the 'generally held beliefs' be given a verdict of 'not proven' which probably does not sell as well as the word 'fallacy'.The complexities and multiple variables perhaps mean that any conclusions may be difficult to reach rather than just p [...]

    19. key takeaways are:1)Ancient Rome had a population similar in size to that of Dallas today 14 but living in an area only two percent of the size of Dallas. so cheaper transportation costs of 20th century made more people to go out and stay in suburbs than was the case inlast century.2)In 1901, housing costs took 23 percent of the average American's income. By 2003, it took 33 percent of a far larger income. In California, where government interventions in housing markets have been especially perv [...]

    20. Thomas Sowell is one of my favorite authors - so I knew exactly what to expect when I started reading Economic Facts and Fallacies.The book concentrates on popular fallacies related to sex, race, income, the third world, the academia and cities. As typical with Sowell, the arguments and data are presented in a extremely clear and convincing matter. The author concentrates on very popular fallacies, most of which are relevant to this day: income inequality, rent control, unequal representation et [...]

    21. As usual, Thomas Sowell hits a home run with this book that takes apart many urban legends with incisive reasoning and empirical evidence. The bonus is that Sowell always makes complex subjects eminently understandable for the average reader. He is the past master at it. A must-read for anyone who wants to understand how an economy, country or society actually functions.

    22. This book was 50/50 for me. That is why I gave it a three star rating. In this book I like the fact that Thomas Sowell tries to explain how many of the fact people believe in economics is not a true is a everybody believes (fallacy). Thomas Sowell try to prove common misconceptions about economics. Talking about things like Pay difference, ethic groups, educational differences, as well as third world countries. That are better chapters than others. One of my favorite chapters is when he talks ab [...]

    23. Sowell is superb, just superb, at poking holes at conventional (read: liberal) wisdom. The problem is that fallacies are powerful. For instance, the zero-sum fallacy: if one person gains economically, another loses. This cannot be true! If so, free trade would never happen. Or the chess-pieces fallacy: that the economy is one giant experiment and the "experts" can change the parameters to get any outcome they desire. This is well-loved by progressive, big-government types, but it just isn't true [...]

    24. Economist Thomas Sowell is the man. I first started reading his books back in January 2012 and this is the fourth book I read. I must say I enjoyed everyone of them! In this volume Sowell examines some of the economic myths and mantras by political pundits and debunks them with clear thinking, sound economic principles and actual statistics. In light of the sensitivity of some of the subject matter I appreciate Sowell’s tone of the book in which he bring to bear scholarship without inflammator [...]

    25. The book is ok, it is not really about economics but rather about how economics has been misused to support political agendas. Economics is used way too often by politicians (of any view) for claims that have no economic standing.The good: the book discusses discrepancies in popular sentiments about politically charged issues. In most chapters, an interesting analysis is presented to highlight that it is hard to think of the world as black and white and that there are many determinants of an out [...]

    26. Sowell deftly and swiftly dismantles a ridiculous parade of modern economic myths. He explodes one common, deceptive fallacy after another through easily comprehensible yet thorough analysis, revealing the sadly naive, or disturbingly deliberate, misuse of statistics employed and acted upon by third-parties.This book is an enlightening collection of the myths so pervasive and most often detrimental to the people and politicians who hold them as the flawed bases of social thought and interaction, [...]

    27. I liked the last two chapters. The book is not objective. He cleverly points out libertarian successes and socialist failures and dodges the opposite. The numbers give the reader the impression of objectivity, but the comparisons are far from it. Two examples (spoiler alert):He compared the failures of housing policy in San Francisco (built on a mountainous peninsula prone to earthquakes) to the successes in Houston (flat plain for a 30 mile radius).He compared the 1% wealthy individuals to 20% [...]

    28. When I started this book, I would never had guessed I'd give it 5 stars, mainly because my opinions on economics are not extraordinarily conservative (although slightly conservative) and Sowell is known for his conservatism in this regard. That being said, I have great respect for Sowell's ability to present and analyze data WITHOUT politicizing the results. For example, he provides data as to the differences in working hours for women of various ages and statuses, and then explains how those st [...]

    29. Thomas Sowell hits another home run with this latest look into the realities of economics in the United States. In this third book of his I have read, he looks at the Facts and Fallacies of Urban life, Gender issues, Academia, Race, Income ineqtuity and the Third World. As always, his prose is very readable and fascinating, and his arguments compelling. This book ought to be required reading for graduation from every high school and college. (It OUGHT to be required reading for every American ci [...]

    30. It was an interesting book but I found most items outlined herein were common sense. Maybe it's my training in Marketing, knowing how statistics or truths can be bent so that you're not necessarily lying but you're not necessarily telling the truth either. That's what this book was about. It works to open the reader's mind to understand the many fallacies presented as truths from specific research. Often the same research results yield many different interpretations depending on which data you c [...]

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