In Economic Facts and Fallacies, Thomas Sowell exposes some of the most popular fallacies about economic issues in a lively manner that does not require any prior knowledge of economics. These fallacies include many beliefs widely disseminated in the media and by politicians, such as fallacies about urban problems, income differences, male-female economic differences, as well as economic fallacies about academia, about race, and about Third World countries.
Sowell shows that fallacies are not simply crazy ideas but in fact have a certain plausibility that gives them their staying power--and makes careful examination of their flaws both necessary and important.

From one of America’s most distinguished economists, a short, brilliant, and revelatory book: the fundamental ideas people most commonly get wrong about economics, and how to think about the subject better
Thomas Sowell has taught economics at Cornell, UCLA, Amherst and other academic institutions, and his Basic Economics has been translated into six languages. He is currently a scholar in residence at the Hoover Institution, Stanford University. He has published both in academic journals and in such popular media as the Wall Street Journal, Forbes, and Fortune, and writes a syndicated column that appears in newspapers across the country.

Thomas Sowell “both surprises and overturns received wisdom” in this indispensable examination of widespread economic fallacies (The Economist)

Economic Facts and Fallacies exposes some of the most popular fallacies about economic issues-and does so in a lively manner and without requiring any prior knowledge of economics by the reader. These include many beliefs widely disseminated in the media and by politicians, such as mistaken ideas about urban problems, income differences, male-female economic differences, as well as economics fallacies about academia, about race, and about Third World countries. One of the themes of Economic Facts and Fallacies is that fallacies are not simply crazy ideas but in fact 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 the author's Basic Economics, this latest book is able to go into greater depth, with real world examples, on specific issues.