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Economic Facts and Fallacies Audiobook

Economic Facts and Fallacies

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Publisher's Summary

Economic Facts and Fallacies is designed for people who want to understand economic issues without getting bogged down in economic jargon, graphs, or political rhetoric. Writing in a lively manner that does not require any prior knowledge of economics, Thomas Sowell exposes some of the most popular fallacies about economic issues, including many that are widely disseminated in the media and by politicians: fallacies about urban problems, income differences, male-female economic differences, academia, race, and Third World countries.

While all of these fallacies have a certain plausibility that gives them their staying power, this makes it even more important to carefully examine their flaws. Sowell holds these beliefs under the microscope and draws conclusions that are sure to inspire rigorous debate.

©2008 Blackstone Audio, Inc.; (P)2008 Blackstone Audio, Inc.

What the Critics Say

"Sowell is fearless and invariably so far ahead of the curve in discussing economics or politics or pretty much anything that the rest of us are left with eating his intellectual dust. I can't think of a higher compliment that that." (Fred Barnes, Executive Editor, Weekly Standard)

What Members Say

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  • rob
    17/08/10
    Overall
    "Brilliant"

    Economics explained in such an easy to understand narrative. This should be required reading in every high school.

    8 of 8 people found this review helpful
  • Hayyamini
    USA
    02/07/09
    Overall
    "Everything everyone needs to know about economics"

    This book will force you to think through the economic dogma you have been fed all your life. Much of what you thought you knew, you will realize, was indeed fallacious.

    7 of 7 people found this review helpful
  • Donald
    Asheville, NC, United States
    10/09/10
    Overall
    "Not for closed minds"

    If you have an open mind, then this book is for you. It will confirm many of your beliefs and possibility challenge some others. But be forewarned, this book covers such as wide variety of topics that there is a good chance that you will find yourself on the wrong side of at least one good argument. What matters most is that you grow from the experience.

    The book covers a number of topics. These include rush hour traffic, real estate prices in California, CEO pay, college personnel pay, pay by gender, crime in cities, urban slums, slavery outside North America, foreign aid, third world countries, and discrimination. Usually a chapter is devoted to a topic. Each topic contains many questions. Supporting information comes from history, census data, and other economic sources. For example, the lives of the Indians changed when the European settlers brought horses to North America.

    Since 2008, many economic facts still ring true. In August, 2010, Beijing has a ten day traffic jam. California real estate prices are still high. CEOs still get paid a lot. The earthquake in Haiti reveals a poor government. Nigeria does not protect its oil industry. The nationalization of the oil and gas industry does not make a country rich.

    13 of 14 people found this review helpful
  • Michael
    Walnut Creek, CA, United States
    08/05/08
    Overall
    "Good with salt..."

    Although another reviewer points out, correctly, that the author's biases come across from start to finish, nevertheless this volume was quite interesting and informative, and well worth the time. Responsible, educated Americans are exposed to a constant barrage of statistics from all points of the political compass. This book is one attempt at encouraging a questioning of the underpinnings of any statistical factoids. For example, everyone has heard the statistic that women make only 75 cents for every dollar men make. I think most reasonable people suspect sexual prejudice is part of this difference, but also suspect there may be more to it than just prejudice. Sowell points out weaknesses of this factoid - including an analysis of subgroups of women and men that are most similar (adult, never married, no children) - in this subgroup women make substantially more than men. Although I do not agree with many of the author's political beliefs - I think anyone who wants to understand the danger of statistical factoids should take a listen (but keep a good supply of grains of salt handy).

    50 of 57 people found this review helpful
  • David
    cincinnati, OH, United States
    07/07/08
    Overall
    "Best analysis I've read of Economic issues"

    This book debunks a lot of "studies" that find discrimination by linking it all to various statistical slights of hand. Professor Sowell goes indepth with his explanations of various cultural arguments. Warning, may persaude more liberal readers that their die-hard beliefs are wrong through the application of variables such as education and working hours to disprove many racial and sexist arguments made about our current times.

    27 of 31 people found this review helpful
  • John
    Troy, MI, USA
    05/12/09
    Overall
    "Great Book by Great Thinker"

    The theme could be that it is not the things you don't know that create most problems, but the things you think you know but are false that create the real problems.

    Dr. Sowell explains the common fallacies that undermine our thinking.

    9 of 10 people found this review helpful
  • Trenton
    Texas, Alaska United States
    24/05/14
    Overall
    Performance
    Story
    "A must listen"

    Concise, objective, eye opening, well though out. A MUST LISTEN. Mr. Sowell brings you to a better understanding of how we have arrived at a lot of erroneous conclusions in this country and different policies that are ineffective and make no sense. Sound boring? It isn't. Very well narrated.

    2 of 2 people found this review helpful
  • Donald E Scott
    terre haute, in United States
    23/01/14
    Overall
    Performance
    Story
    "Skewering The Economic Propaganda with Facts"

    Just about every facet of economic "fairness" is examined in an empirical and reasoned way and exposed for the actual failures they are in the real world. From rent control to executive salaries, these and other topics are examined by one the most brilliant economic minds living today. One of the most important books ever written for the common man on economics related in an approachable and understandable way. It's about the things we talk about at the barbershop and at barbeques. The insights and answers provided may be unsettling for those that readily accept the conventional wisdom presented by the media and politicians. Highly recommended for anyone that has never had a class in economics and wants a better understanding of the basics through real life examples on familiar topics.

    1 of 1 people found this review helpful
  • Andrew Smith
    07/10/16
    Overall
    Performance
    Story
    "Concise Debunking of Common Econ. Fallacies"

    Thomas Sowell clearly and concisely debunks the major economic fallacies preached by politicians worldwide with perfect use of logic, statistics and history.

    0 of 0 people found this review helpful
  • Gregory Rangel
    Southern CA
    20/03/16
    Overall
    Performance
    Story
    "Thomas Sowell"

    The ease at which Dr. Sowell destroys these fallacies with facts is always humbling. Wonderfully written and narrated.

    0 of 0 people found this review helpful

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