The must-read summary of Thomas Sowell's book: “Economic Facts and Fallacies”. This complete summary of "Economic Facts and Fallacies" by Thomas Sowell, a renowned economist and social theorist, presents the author's exposure of some of the most popular economic myths that are often disseminated by the media and politicians. Added-value of this summary: • Save time • Understand how and why economic myths are often portrayed as fact • Expand your knowledge of economics To learn more, read "Economic Facts and Fallacies" and discover the truth behind some of the most popular and widespread economic myths.

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.

Providing an account of the development of economic thought, this book explores the extent to which economic ideas are rooted in moral values. Adopting an approach rooted in ‘pragmatism’, the work explores key questions which have been considered by economists since the classical political economists. These include: what degree of priority ought to be granted to property rights among all individual liberties; whether uncertainties in economic life justify investing political authorities with the power to stabilize business cycles; whether it is better to trust entrepreneurial initiatives to resolve societal dilemmas or to centralize policy-making in the hands of a benevolent government. The chapters argue that economic thought has evolved from an emphasis on "sympathy" (as defined by Adam Smith) and that there has more recently been a rediscovery of the significance of sympathy reinvented as "fair reciprocity" in the wake of the emergence of behavioural economics and its connection to evolutionary psychology. This key book is of great interest to readers in the history of ideas, political and moral philosophy, and political economy.

Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.

This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies. On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the determination of equilibrium prices and their movement induced by changes in income distribution; the dynamics of competition of firms within and between industries; the law of tendential equalization of interindustry profit rates; and international exchanges and transfers of value; as well as macroeconomic issues concerning capital accumulation and cyclical economic growth. Given its scope, the book will benefit all researchers, students, and policymakers seeking new explanations for observed phenomena and interested in the mechanisms that give rise to surface economic categories, such as prices, profits, the unemployment rate, interest rates, and long economic cycles.

Cambridge University has and continues to be one of the most important centres for economics. With nine chapters on themes in Cambridge economics and over 40 chapters on the lives and work of Cambridge economists, this volume shows how economics became established at the university, how it produced some of the world's best-known economists, including John Maynard Keynes and Alfred Marshall, plus Nobel Prize winners, such as Richard Stone and James Mirrlees, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, this volume provides economists – especially those interested in macroeconomics and the history of economic thought – with the first in-depth analysis of Cambridge economics.

This highly successful textbook is now in its fourth edition, and has been extensively updated in order to keep pace with the considerable advances in theory and practice in recent years.