Economic Facts and Fallacies Summary

The SQUEEZE: Economic issues to the layperson may appear too difficult to fathom, but when presented with simplicity, they can, in fact, become a great guide for understanding how the world truly works. This is Thomas Sowell’s sentiment in Economic Facts and Fallacies where he discusses popular fallacies surrounding common economic issues. Sowell believes that the sources of these fallacies include media professionals and politicians offering their views concerning today’s urban problems, income differences, and economic beliefs regarding race and underdeveloped countries. Sowell believes that these fallacies have a certain plausibility which makes it easier for people to preserve these ideas and also makes examination (by Sowell) important and necessary. Sowell’s book is a must-read for social scientists.

Notable Endorsement: Anyone who wants to know why we are where we are and where we are headed, must read this wonderful book by Thomas Sowell.—James E. Thomas, Reviewer


Common Q’s Answered by this Book:

  • What are examples of economic fallacies that might pose a challenge to a social scientific study?
  • What is the link between economic fallacy and the current condition of one or more underdeveloped countries?
  • Why are individuals predisposed to believing an economic fallacy for which they did not originate?


About the Author: Thomas Sowell is an American economist, social theorist, political philosopher, and author. Sowell is currently a scholar in residence at the Hoover Institution housed on the Stanford University campus. Sowell has taught economics for multiple universities which include Howard University, UCLA, Amherst College, and Cornell. Sowell continues to publish in academic journals in The Wall Street Journal, Forbes magazine, and Fortune. Sowell is a winner of the National Humanities Medal. He is an advocate of laissez-faire economics. Sowell completed a bachelor’s degree in economics from Harvard University, originally attending Howard University at night. Sowell completed a master’s degree from Columbia University; and later went on to complete a Ph.D. in economics from the University of Chicago (1968). For more information, visit: and


Book Vitals:

  • Publisher: Basic Books (March 2011)

Comments (0)

New comments are currently disabled.

// ]]>