Thomas Sowell, "Economic Facts and Fallacies"

Description

From one of America's most distinguished economists, a short, brilliant and revelatory book: the fundamental ideas people most commonly get wrong about economics, and how to think about the subject better.

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 readers. 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 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.

Contents

“Preface

1 The Power of Fallacies
 The Zero-Sum Fallacy
 The Fallacy of Composition
 The Chess-Pieces Fallacy
 The Open-Ended Fallacy
 Summary and Implications

2 Urban Facts and Fallacies
 Transportation
  Population Concentration and Dispersion
  Traffic Congestion
  Social Pathology
 Housing
  History
  Economics
  Politics
 Urban Economic Activities
  Slums and Crime
  "Urban Sprawl"
 Summary and Implications

3 Male-Female Facts and Fallacies
 History
  Declines in Higher Education and Professional Occupations
  Rises in Higher Education and Professional Occupations
 Economics
  Occupational Differences
  Continuity of Employment
  Regular and Irregular Work
  Domestic Responsibilities
 Employer Discrimination
  Comparability
  The Minority Analogy
 Summary and Implications

4 Academic Facts and Fallacies
 The Faculty
  Teaching
  Educational Quality
  Academic Careers
 The Students
  Choices Among Colleges
  "Value Added" by College
  The Cost of College
 Academic Finances
  Costs
  Revenues
 Summary and Conclusions

5 Income Facts and Fallacies
 Income Stagnation
  Household Income
  Workers' Incomes
 Income Inequality
  "The Rich" and "The Poor"
  The "Vanishing" Middle Class
  Executives' Pay
  Social Mobility
 Summary and Conclusions

6 Racial Facts and Fallacies
 Group Differences
 History
  The Role of Time
  Slavery
  The Black Family
  Culture
  Crime and Violence
 Economics
  Employment Discrimination
  Consumer Discrimination
  Lending Discrimination
 Summary and Implications

7 Third World Facts and Fallacies
 Geography
 History
 Economics
  Law and Order
  Population
  Culture
  Exploitation
  Foreign Aid
 Summary and Implications

8 Parting Thoughts

Notes
Index”
Tags: Economics, History, Feminism, Academia, WorldPolitics, Politics, CriticalThinking

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