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Archive for October 2nd, 2014

Economic Facts and Fallacies Sowell
Order on Amazon: Economic Facts and Fallacies, 2nd edition

Economist Thomas Sowell is the man. I first started reading his books back in January 2012 and this is the fourth book I read. I must say I enjoyed everyone of them! In this volume Sowell examines some of the economic myths and mantras by political pundits and debunks them with clear thinking, sound economic principles and actual statistics. In light of the sensitivity of some of the subject matter I appreciate Sowell’s tone of the book in which he bring to bear scholarship without inflammatory rhetoric. I think an economist that can write in a winsome manner (without being boring!) is a rare gift that few can pull off. Don’t expect the book to just knock on progressives—I found myself being challenged as well, especially with economic and political propositions that most people just assume is true. Especially insightful in this book is his discussion about government intervention in urban areas with affordable housing—and how ironically the more the government is involved the more it hurt the poor. There are many materials here that appear in Sowell’s The Housing Boom and Bust. I particularly enjoyed his chapter on the third world as well. Reading this book makes me realize how so little of economics must Americans grasp—and how that can be detrimental to one’s own interests and where one land in one’s opinion of government fiscal policies.

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