Economic Facts and Fallacies

Economic Fallacies is the third book by Thomas Sowell I've read this year and it continues to illustrate why he is one of the most important conservatives in America today. His writing beams with scholarship and clarity. There are no wasted words and the work is an arsenal of information. These chapters should be read and reread as they thoroughly refute the positions of those who irrationally regard America as being a racist, sexist and corrupt state.Sowell debunks the myth of female oppression by highlighting the way that statistics are jiggled in the hopes of morphing the USA into a patriarchy. Indeed, in my opinion, our nation is closer to being a matriarchy than it is anything else. The old 74 cent to the dollar feminist canard is refuted after he teases out the example of unmarried, childless women. They oftentimes are anything but oppressed. Indeed, in many cases they make even more money than their male age-mate peers. Much of the difference between the sexes, in terms of wage, is a result of personal choice. Women work fewer hours and are more likely to choose stability over cash when deciding on a career. Women also select less dangerous jobs than do men as indicated by the statistic he cites showing that 92 percent of those who die in job-related accidents are male.In terms of class, all of us who ever have tried to debate the left comprehend the error in their perceptions--as does Sowell who eliminates their positions with ease. Unfortunately, it's a serious challenge to ever get them to come around as they would feel contaminated should they ever try to examine world events through the eyes of a conservative. Rife among our opposition is the belief that only a finite amount of money exists in the world, and, if you have lots of it, that automatically means that thousands have none of it. While pseudo-liberals appear to have heard of "economic growth" they have yet to internalize its meaning. This is why they are so enamored with redistributing the rest of population's wealth. They dub this larceny "social justice" despite real social justice embodying the practice of letting people keep what they earn. Tragically, without a basic understanding of economics the left will continue to hike taxes until...the welfare state collapses along with the nation as a whole. Once they eradicate the rich there will be no one left to fund the dole.With race, Sowell tears apart [yet again] the notion that blacks make less due to discrimination. He refers to an argument here I never heard elsewhere--but greatly appreciate--which is that when a particular group's mean age is lower, as is the case with blacks, they generally have lower incomes than do groups with higher mean ages. This makes perfect sense as a group of 20-year-olds never make as much as those nearing the end of that particular decade; although, his insight matters little as the mainstream media has no use for nuance. They crusade against injustice even though, most often, they are ones who perpetuate it.

Before reviewing the book, it must be said that Thomas Sowell is an intellectual trailblazer. Not only is Dr. Thomas Sowell incredibly knowledgeable but he is also commendably lucid in his writing. Often times, writers feel the need to write vaguely and equivocally - most probably due to a lack of confidence in their knowledge and to cover up the carelessness of their thought patterns. Thomas Sowell thinks profoundly and can convey his ideas clearly and eloquently. Not many writers can boast of having that ability.The book's premise is essentially a systematic dismantling of the economic canards that are invariably disseminated by the Left. The main theme that I took away from the book is that liberals refuse to research issues deeply enough to find adequate explanations for economic quagmires; rather, they prefer to simplistically use buzz words like "discrimination," "racism," and "sexism" as explanations for all economic differences and problems. Dr. Sowell destroys these notions with formidable logic and erudite prose.The most insightful analysis of Dr. Sowell's was his Chapter Three argument that male and female income discrepancies have a plethora of explanations that extend far beyond the sophomoric liberal proclamations of "Sexism!" and "Discrimination!" Sowell's academically nuanced look at the issue absolutely trashes the notion that discrimination can be blamed for women, who are educated to the exact same level as men, earning 30% less than their male counterparts. This is one of his most powerful chapters.It is a shame that liberals are so concerned with pushing an agenda that they continue to promulgate patent falsities about economics. This book is a powerful antidote to popular economic liberal lies, and it arms readers with a smorgasbord of useful facts that would enable them to hang in an economic debate with even the most adept liberal sophists.The fact that Dr. Sowell is not swimming in Pulitzer Prizes and honorary degrees from every top institution in the world is undoubted evidence of the preposterousness of the idea that universities are politically neutral places that are welcoming of diverse opinions and open debate. To the contrary, universities have long been overtly hostile to conservatives and unapologetic citadels of liberal thought.

"Economic Facts and Fallacies" successfully debunks most of the fallacies used to justify the tyranny perpetrated by the fourth branch of government - the bureaucracy. Reading Mr. Sowell's book was part of the research done to write "21ST Century Common Sense" and the time was well spent. However, Mr. Sowell is too charitable towards those who would usurp our freedom and who use many of the fallacies listed in "Economic Facts and Fallacies" to that end.These CHARLATANS routinely use such misinformation for political gain and most are much too intelligent to believe the validity of these fallacies. No wonder that those who support suppression of individual liberty and freedom hysterically denounce "Economic Facts and Fallacies".Felton Williamson, Jr.Author of "Common Sense - The Way Back"[...]Common Sense - The Way Back

Das Buch ist der Versuch einer Popularisierung ökonomischen Denkens, und zwar wirklichen ökonomischen Denkens.Ich persönlich glaube, dass dieses Anliegen dringend und wichtig ist - und hat leider vermutlich nur sehr eingeschränkte Wirkung, weil ich glaube, dass die meisten Leute, die nicht ökonomisch denken können, es deshalb nicht können, weil sie nicht wollen.Aber mal konkret an einem Beispiel aus dem Buch.Man stelle fest, Frauen verdienen im Schnitt weniger als Männer. Nun gibt es eine nicht kleine Gruppe von Leuten, die an der Stelle nichts mehr hören (und verstehen) wollen, sondern auf der Stelle laut "ungerecht" schreien. Der Ökonom (und hier der Autor) wird uns an dieser Stelle sagen, dass hier erstaunliche Denkfehler drin sein können - wohlgemerkt können, nicht müssen. Denn:- hat man einfach Halbtagskräfte eingerechnet? Logisch verdienen Halbtagskräfte weniger (für die halbe Arbeitszeit). Eine andere Frage ist, ob Frauen an anderer Stelle benachteiligt werden und deshalb nur Halbtagsjobs machen können, aber an dieser Stelle ist der geringere Durchschnittsverdienst nicht ohne weiteres aussagekräftig.- vergleicht man überhaupt gleiche Altersgruppen? Wenn sich zB herausstellt, Frauen gehen früher in den Ruhestand, fallen Altersgruppen mit hohem Einkommen (spät im Berufsleben) aus dem Vergleich raus.- vergleicht man gleiche Bildungsniveaus? Angenommen, Frauen hätten tendenziell weniger Abitur/Lehre/Hochschulabschluss, dann würde das Problem evtl. nicht in Diskriminierung auf dem Arbeitsmarkt, sondern in Diskriminierung im Bildungswesen liegen.Ich vereinfache natürlich extrem, aber ungefähr so sehen die Überlegungen aus. Wer sich das mal antun will, der kann es mit diesem Buch tun und ggf. die Qualität der eigenen Überlegungen steigern (führt auch zu höherem Einkommen übrigens). Wer blind irgendwelchen "Skandal"-Autoren folgen will, der sollte sich anderswo 10 Euro für irgendwelchen Quark und etwas Bestätigung der eigenen Meinung abnehmen lassen.Jetzt noch meine Einschränkung: Wer Ökonomen kennt (ich kenne aus beruflichen Gründen eine Menge, bin aber selber keiner), der weiß, dass sie selbst genauso blind sein können. Beispiel aus dem Buch:Der Autor behauptet, der Staat fördere viel zuviel öffentlichen Nahverkehr und missachte dabei, dass Menschen sich nicht bevormunden und Auto fahren wollen wegen mehr Freiheit etc.Ob das stimmt, kann ich so nicht sagen, und der Autor auch nicht. Was er nicht liefert:- die Unterhaltung von Straßen kostet den Staat weniger als die Unterhaltung der S-Bahnen etc? Im Ernst? Das würde mich extrem wundern.- die ganzen Flächen, die mehrspurige Straßen und Parkplätze einnehmen, sind die auch schon eingerechnet? Ich hätte auch gern 8 qm Großstadt für umsonst vom Staat. Stelle ich dann keinen Pkw hin, werde ich vermieten oder drin wohnen.- man sollte mal hinterfragen, warum diverse Ziele (große Einkaufszentren, Supermärkte, Freizeitparks) so weit draußen liegen. Der Autor unterstellt, weil alle da mit dem Auto hinfahren wollen, weil es draußen vor der Stadt billiger ist. Da frage ich mich, ob das evtl. nur die halbe Wahrheit ist - ist es nicht vielleicht umgekehrt so, dass das Hinfahren so billig ist, weil für die Strecke auf der Straße Vater Staat keine Gebühr verlangt, für die Strecke auf der Schiene aber schon?Komplexes Thema, Ergebnis kenne ich nicht, aber der Autor begeht hier selber den von ihm an anderer Stelle aufgezeigten Fehler, dass man bei ökonomischen Fragestellungen schnell Äpfel mit Birnen vergleicht, wenn man nicht sehr genau aufpasst.

I wish everyone had to read this book before they were allowed to vote. It demonstrates so many political "good intentions" that have the opposite consequences. Things that on the surface seem so simple are often more complex and misunderstood. Dr. Sowell distills them into plain English so anyone can see through the idea to the real impact of the economic drivers.

Book looks great and has no markings.