Economic Facts and Fallacies
by Thomas Sowell
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Book Reviews of Economic Facts and Fallacies
Book Review: Excellent
Summary: 5 Stars
I felt like he spent too much time on the pay differences between men and women, but aside from that I thought it was really good. He shows how statistics can be misinterpreted to "prove" a point of view, but that if you dig down you can see how the statistics were misused.
For example discussing the disparity of income between rich and poor the fallacy is that people within one quintile are there for life. In fact people typically start out in the bottom quintile and as they get more experience and education they work their way up through several quintiles and eventually when they retire they return to the bottom quintile. Retired people with small incomes are not necessarily "poor" because they own their homes and have substantial assets, yet they are grouped with the poor when comparing incomes.
Book Review: How to avoid common economic fallacies
Summary: 5 Stars
Long before Freakonomics hit the bookstores, Thomas Sowell was popularizing economics in simple plain language. In his latest book, he continues to illuminate the dismal science cheerily, shining his flashlight on a handful of fallacies common to policy makers and even some professional economists. After describing these fallacies, Sowell shows them at work in discussions of urbanization, gender equality, education, income, race and economic development. The result is a bracing tonic that will almost certainly change your views on some of the most emotional issues of the day. getAbstract recommends this slim, fast-moving read to those who are unafraid to subject their convictions to the light of the economic evidence.Book Review: Further your economic education
Summary: 4 Stars
I decided that as a responsible citizen I should try to learn a few things about economics. I found that this book is a great aid in that endeavor. Dr. Sowell is a master in making the complex principles of economics easy for the layman. Although my favorite is his book, "Basic Economics," this book is an excellent further examination into some of the principles he brought up in that one. My favorites here were the chapters on college education, income disparity, and the third world. For those that wonder about some of the economic statistics that are so easily thrown around by the media--Dr. Sowell takes some of them on and clearly shows where they are wrong. Every informed citizen should read this book!Book Review: Classic Sowell. Excellent insight, excellent book.
Summary: 5 Stars
Sowell offers invaluable insight into what we know or, more importantly, what we think we know about economics. Things aren't always as they seem and certainly aren't always as we are led to believe.
Anyone who has ever read Sowell (books or columns) knows that he is a talented writer and cuts quickly to the point while methodically supporting it with overwhelming evidence. The larger purpose of this book is to help readers become more critical thinkers rather than mindless consumers of information and ultimately to have the courage to turn inward when seeking solutions.
I particularly enjoyed the Income & Third World chapters. Either alone makes the book well worth your time.
Book Review: If this is anything like
Summary: 5 Stars
I'm a regular reader of Thomas Sowell's online columns & a huge fan of any of his writings. I'd recommend to anyone interested that they read the reviews of "Basic Economics"(or better yet, the book itself!) and/or see any of Sowell's columns/essays (easy to find w/ any online search) to get a good idea of the author's reasoned, grounded, and wise philosophy. Mr. Sowell possesses a truly great mind, accompanied by an honest character, and an academic integrity second to none. Were I ever to meet this man, I'd prostrate myself before him with a Wayne & Garth-like, "I'm not wor-r-r-rthy!". "Basic Economics" is a truly readable primer & I cannont wait to see "Economic Facts and Fallacies"!