Economic Facts and Fallacies

Economic Facts and Fallacies is the latest book by Thomas Sowell. Like all of Sowell's work, it is a solid piece of work.

The title is somewhat misleading. A book that was strictly focused on economic fallacies would parallel a standard introductory economics book. Instead of explaining the truth, it would state and debunk fallacies about the various topics.

This book is different. It does not mention such common fallacies as "price gouging". Instead, it focuses on six types of "facts and fallacies": urban, male/female, academic, income, racial, and third world. It extensively debunks liberal notions on these subjects.

The book amounts to a thorough destruction of egalitarianism. The fact is that races, sexes, nations, urban and rural dwellers, workers, and students are not the same. There is no reason to expect them to be the same. When results between different groups are not the same, egalitarians blame discrimination. While this can happen in particular cases, Sowell provides the facts to show that it cannot explain group differences.

Sowell's book is an interesting and profitable read.