Economic Facts and Fallacies

A brilliant and revelatory look at the fundamental ideas people commonly get wrong about economics, and how to think about the subject better."Economic Facts and Fallacies" exposes some of the most popular fallacies about economic issues - and does so in a lively manner and without readers requiring any prior knowledge of the subject. These fallacies include beliefs widely disseminated in the media and by politicians, such as myths about urban problems, income differences as well as fallacies about academia, race and Third World countries.One of the themes is that fallacies are not simply crazy ideas, but have a certain plausibility that gives them their staying power - and makes careful examination of their flaws both necessary and important as well as sometimes humorous.Written in the easy to follow style of Sowell's "Basic Economics", this book goes into greater depth, with real world examples on specific issues.