Economic Facts and Fallacies Full Audiobook by Thomas Sowell
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- เผยแพร่เมื่อ 4 ม.ค. 2025
- 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.
0) 0:00:30 - Preface
1) 0:01:42 - The power of Fallacies
2) 0:28:43 - Urban Facts & Fallacies
3) 2:23:37 - Male-Female Facts & Fallacies
4) 3:48:34 - Academic Facts & Fallacies
5) 5:28:14 - Income Facts & Fallacies
6) 6:44:32 - Racial Facts & Fallacies
7) 8:16:56 - Third World Facts & Fallacies
8) 9:33:31 - Parting Thoughts
Thanks
thank you!!!
Thank you
You are the real MVP!
The world would be so much better if people listened to this amazing man
Tell cnbc msnbc cnn
Socialist/Marxists will not allow that.
@@lilblackduc7312 The man is a fool that is why actual Marxist pay little attention to such a propagandist for capitalism and Republican politics.
Thomas Sowell is a national treasure!
He is that.
His ability to dissect seemingly complex issues and provide valuable insight in an easily digestible way is second to none
Now don't get greedy. Thomas Sowell is a global treasure. I am all for the redistribution of his knowledge. :)
Jeff Riggenbach (the reader) too.
He is, but it must not be based on his race, rather his individual achievement
It’s funny because so much in this book really is just common knowledge and sense, but it’s applied in a way that so many people seem to not even think about or entertain. Including me! Sowell is brilliant!
Common Sense was written by Thomas Paine and Paine was much better at philosophy for his time than Sowell with his inability to even define economics.
Only 1 hour in and simply love this. What a wonderful man.
Too bad he is quite old. I hope I can still meet him someday.
@@1902fresnothomas Sowell is a national treasure ❤️
The Great awakening is happening across the globe!! I'm sharing this with all the young people I can find.
"Thomas Sowell as a national treasure...is an understatement. The facts drives his intellect and his intellect drives his conclusions. Conclusions brave, unvarnished pragmatic and true. In short the kind of realism that leads to real socioeconomic progress.
His ideas are exactly why the Republican Party to say nothing of its twin the Democrat are in crisis.
Quite practical and reality. A book to be recommended for all international economics students.
AND those of us that simply would like to understand more about how our world works.
I never got my highschool diploma thus never stepped foot in college (for education) i realize how little I know especially economics. I dont know what it is but I'm starving for knowledge, I want to be able to articulate my point of view and my beliefs better with the facts and receipts to back them up. I'm 31 years old with an education level of a 9th grader but common sense of of an adult. I don't know if ill be able to take anything away from this audio reading i have to start somewhere
The biggest advantage of a university degree is not being easily impressed by people with university degrees (coming from a MSc haha)! It’s not where you start but where you finish!
Sowell’s books have overlap. Intellectuals and Society touches on a lot of the same discussion points as in this book. Books get easier the more you consume, you’ll start recognizing concepts/patterns/theories.
All the best on your self education journey Jacob!
Lack of education does not imply lack of intelligence, I too found myself feeling inadequate due to a lack college education. Being that I only received my GED as a means to enlist in the Army, spent 20 years in the Army and felt I wouldn’t stand a chance in returning to school, but I did it and so can you.
Being educated doe's not necessarily make you smart. I’ve learned practical, useful skills my whole life. Just don’t have a piece of paper that says so.
Rock on man, keep going!
Thank you 🙏 😊❤
3:57:20 college books
4:54:15 college money practices
8:16:56 Third World Facts & Fallacies
Thanks for the upload, you rock!
Twenty minutes in and so many gems already
Sowell is good for the Soul
Facts, I listen to these audios when I'm stressed 😂
Sat4n bless him
Also applicable to organised relgion and their interest groups.
1:47:00 This portion almost reminds me of when a UN representative visited the United States and called it "3rd world conditions."
I am personally living alot of this Drama !
Here is a man who knows how to think.
And...can help others do the same
This is more Facts and AMBIGUITIES than
Facts and Fallacies.
The mere fact that he's basing
Quality of Life and Prosperity to Dollar based economy is a fallacy
I don't understand how rent control is problematic economically... I know nothing of economics, so that's probably why I'm perplexed, but how is keeping rents at an affordable price for people worse than allowing landlords the ability to raise the rent to whatever price they feel like raising it to? Here in California, apartments that aren't rent control, rents sometimes will go up hundreds of dollars beyond the original price in the new lease year. How is that preferable?
I think Sowell explains it very well. Each transaction should be a win for both parties, your subjective values drive your purchases or your sales. Once you compel someone to act in a way that opposes their own interests, you are partaking in plunder. If a third party comes in and dictates new terms, it will have adverse effects. With Rent Control, you force one party to get less for the transaction, and they will try to compensate for the loss in other ways, such as less upkeep, less investment, less future building, and less housing. If the government forced you to sell at a loss, why would you continue to be involved in that market. Price controls on any product have a negative impact because it means you are taking from someone and adding a cost, which they are usually not willing to pay.
Ty so much
Hell yeah!
5:46:21 No part time workers, adjunct teachers or independent contractors receive the benefit of the full time employees.
THE BEST ECONOMIC BOOKS ARE THOSE SHOW HOW COUNTRIES CAN EXPAND GOVERNMENT WHILE STILL GETTING THAT SWEET DEVELOPMENT, LIKE IN TOOTH FAIRY TALES OF OLD.I WOULD LOVE SOME RECOMMENDATIONS FOR THEM PLEASE GUYS.
This man's definition of economics in his book "Basic Economics" shows that he is completely unfamiliar with the subject.
National treasure
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Gold
5:44:53 It would be great if someone explain this art better. The notion that the company provides medical insurance and retirement is a fallacy since the insurance is paid by the employees and the contribution of the employer is that of collective bargaining for a lower price per person. Regarding pensions they are no longer part of employment, not even in higher education as you mentioned in academic facts and fallacies. A 401K is what cost the civil servants and retirees their pensions in 2008. At the same time Jamie Dimon personal compensation made public was over 15 millions dollars. If that’s not wealth transfer please tell me what it is.
Huh? Employers pay part of the cost of insurance, their contribution is not just getting a lower price. Have you never ran or at least seen payroll before?
Statistics don't lie, statisticians do!
5:45:10 Why are part time employees, adjunct independent contractors and the hustle economy flourish? Could it be that by doing so the personal responsibility of the corporations and share holders is greatly transfer to a larger margin of profit for themselves as cut benefits from the working class?
Most likely because they offer more flexible hours, and are less work. Working hours have been severely reduced while incomes are higher than they've ever been.
@@tropinnka
Lol, more ppl live paycheck to paycheck than ever before.
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Missing materials
You studying Economics or just seeking clarity on word choices?
Post your rights of usage in the video description.
What mr.Sowell is saying is any program,grant,policy,cause,agenda that targets "you",or any other group ,sub group ,ethnic , racial , gender,age, economic standing,mental or physical challenge and including the right to choose a male or female toilet on any given day according to your gender I.D.on that particular day or the number of people in each line the shorter line may dictate the gender one may choose.Anyway ,the liberals,leftist,or Democrats have over the last 30 years or so invented solutions to non-existing problems,created stupendous problems with the solutions intended to fix the non existing problem.
If Democrats are trying to solve the problems the created rest assured the fix will not only not fix the problem it will multiply like compound interest.Everything they've got their do gooder hands on has gone to shit along with the hapless recipients of their impossible schemes.
One look at the welfare state an untouchable pet project of the left has destroyed the lives of millions of people that have fallen into the entitlement trap.Not only has this catastrophe not helped it has done the opposite.Let the words "welfare and entitlement reform " come up in the hallowed halls and the left will crucify the villain who dares to starve their inner city charges.
Or the rich can afford to travel whenever and save time. I'm. Super conservative but cone on taxing our use of roads is a poor tax. On the time we have on this earth.
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Walk like an Egyptian? 😂
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24:38 Progressives...
Thompson Patricia Williams Patricia Lee Laura
Hell yeah! lol
Points for that phuqin name!!!
Harris Angela Rodriguez Edward Johnson Thomas
He makes some good points, he definitely is in favor of an open free market, he does miss some points on given less restrictions in any system, one must assume that everyone act in the best interest of the "whole" or community or neighborhood what have you. If not then we regress back to the 1940's and 50's when people and companies just dumped/burned or stored what ever wasn't needed on the back of their properties. I'm not a complete naysayer though, this provides a good starting point for both the left and the right parties in America. Just my two bits.
I’m sure he would make the case for government to have regulations only whenever it impacts third parties just as his mentor Milton Friedman had. But to remove any and all other arbitrary government in all aspects. You could only imagine how rich everyone would end up being if all these arbitrary government interventions disappeared
Fallacy.
@@darthbrooks4933 why? What data do you have to dispute this?
No Sowell is more limited government than free market. Free market im thinking Mises, Rothbard, Hayek(middle age) aka the austrian libertarians. The austrians would argue that having things dumped would create a market for someone to clean the water or pick up the trash esp if they can sell that service which will make people who buy it look more responsible.
Also we should see what caused the stuff to be dumped and or burned. Was there any govt policy that incentivized this phenomenon in the 40s and 50s
I respect Thomas Sowell tremendously, but I must disagree with his assessment of gender preference in China. This preference is prevalent throughout Asia. It’s not because boys have better survival skills. It’s a deep-rooted cultural preference to favor boys over girls because boys are perceived to carry on the family name while you “raise girls so they can marry off to other families.” I am surprised that Mr. Sowell was not aware of this cultural implication.
But that’s assuming that specific family name would come with some kind of weight or significance to it, in which the vast majority of people in China did not have. Normally, at least in Greco-Latin culture, family names were usually the center of people’s social life and property rights, so keeping women alive and healthy was especially pertinent. Take for example the Spartan inheritance system in which women were the beneficiary of familial assets rather than the men. The same familial system and concept of ownership and property in the sense of Latin and Greek culture wasn’t really commonplace outside of Southern Europe, North Africa and Middle East until Hellenism really took off. I think it’s a fair argument that these cultures, at least in these specific cultures at these specific times, did favor having male children because of their working value rather than the importance of lineage.
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Hernandez Donna Jackson Barbara Taylor Jeffrey
Lopez Paul Walker Dorothy Rodriguez Matthew
It is certainly true that Thomas Sowell has made significant contributions to the field of economics and public policy. However, upon closer examination, many of his arguments and conclusions are found wanting.
One major critique of Sowell's work is his tendency to rely on a narrow and often overly simplistic understanding of economic and social phenomena. For example, Sowell's emphasis on "market solutions" as the panacea for all societal ills ignores the complexity and nuances of real-world issues and the limitations of markets in addressing them.
In addition, Sowell's views on race and ethnicity are also problematic. He has been criticized for downplaying the role of discrimination and structural inequality in shaping the economic outcomes of marginalized groups. This narrow perspective fails to take into account the multifaceted and interconnected nature of social and economic disadvantage.
Furthermore, Sowell's work often lacks the nuance and complexity that one would expect from a serious scholarly analysis. His arguments are often overly reductionist, lacking the depth and breadth of evidence required to support his conclusions.
In conclusion, while Sowell's work may have some value as a provocation or a starting point for further discussion, it is not a satisfactory basis for serious policy analysis or social critique.
In reference to the assertions made in your body paragraphs, one might ask “how so”?
I'M SURE IF ONE READ MARX OR ENGELS THEY WOULD FIND SATISFACTORY BASIS FOR SERIOUS POLICY ANALYSIS OR SOCIAL CRITIQUE. WONDERFUL POINT DARRON.
Lol look at this wannabe intellect. If only u said more big words, ppl might've took u seriously.
The fact that I cannot be completely certain that this comment is a deliberate parody vexes me greatly. 😂 Well done.
@@Dewkeeper Thank you bro, it's an art
Married men earn more than single men because the wives do the laundry???!! Total non sense..
How so? The time that would be used taking care of the house can be now be spent on the job, producing more income.
@@XxsonicfanxX60
What about the time being used to "take care of the wife"?? I'm divorced by the way...I know a bit about the subject...
@@someguy559 I'm sorry to hear that brother. I've been married for a year now and my wife has made life a lot easier.
But our lives aside, I'm imagining house wives taking care of the kids and maintaining the household which is basically a full-time job in and of itself. A lot of "single" men have kids which ofcourse you know, and single parents definitely don't have the time compared to married couples
@@XxsonicfanxX60
Glad you're happily married bro...
Marriage offers an inherited risk introduced to the life of a single happy man...children is yet higher form of risk...as one wise man put it:
" the greatest speculation of all is to bring a child into this world"...
The book doesn't investigate these risks...at all..
It's not. More time to do other things that earn
Brits, on gb news, laughing about people, in the US, living in sheds. Trailer parks, ur tax dollars wasted
They think government should buy them housing? What are they, pets?
How about this idea? "Nothing is a right just because somebody else produced it."
That will keep mankind from becoming pets, and having our free enterprise stolen from us.
Its' similar over in GB. Antiwhite unauthorised border crossers get everything on a plate while INDIGENOUS yes INDIGENOUS White people are kicked aside.
Reading a book this way does not count, it’s cheating.
as somebody who was forced to lose his life, he is making a fallacy.
they dont make Transaction because they are beneficial, they are forced to.
if you baker charges you 20 dollar for bread, and its the only food that will prevent you from starving. you make it, ofc its better than starving.
but even that is doubtful, is a life as a slave to a baker worth living?
or what if you buy merchandise, maybe society and advertisment forces you psychologically to buy them, but you are not benefited. in reality you are worth of, you feel bad having wasted your money, having less money and being an idiot.
yet you keep buying crap.
why write a book about fallacies, if your first fallacy contains a fallacy?
There’s these things called time stamps. They’re very useful for helping people make sense of your ramblings. It would be much easier to show you why you’re being insane right now with a time stamp.
@@christophergilliam2328 its the very beginning
@@christophergilliam2328 you would not prove wether im insane or not. Only if i was right or not.
Obviously in this case i am absolutely correct. Sowell is a hoax
might be still insane, but who wouldnt if he got put on drugs and bankrupted.
Anyhow Sowell is a useful idiot, propagating idiotic stuff and they let him be cause its fit their cause.
Not saying other economist are much better but i did not listen to their book.
You leave out free enterprise. If somebody is charging me 20 bucks for a loaf of bread, and it can be made and sold for bucks and make a profit, then you can compete, hire even more people, (opportunity), and lower the price, selling more.
As far as merchandise for you to buy, (or compete with in a free society), it is up to you do do with your money that you wish. You are claiming that people have the brains of an infant, and under communism, they do. Wanna bet I know something about you? Your life is a mess. Isn't it?
and it can be made and sold for (3) bucks and make a profit,
Super boring but I finished it
Don’t recommend
This is such a bad book. Not only has he the nerve to talk about fallacies why commiting a fallacy.
The first great philosoper who thought western thinkers about fallacies even famously disproved this fallacy.
So if Socrates already proved his reasoning a fallacy, i wonder how an educated man can really write a book about fallacies, while commiting an elemental fallacy.
Where the fallacy?
@@carlosbanderas4238 his logic that people do things because its beneficial. Socrates broke the argument of the guy who said " justice is whats good for the strong"
he argumented that rulers make the laws, but he pointed out that rulers ert because they dont always do whats bebeficial to them.
so to me its clearly a long proven fallacy.
Sunday Sabbath Is a fallacy
This is a bad book because you pointed out that you disagree with 1 point in the entire?
Hell yeah!
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Rodriguez Maria Thompson Karen Young Ronald