Summary of Thomas Sowell's Economic Facts and Fallacies

Excerpt From Summary of Thomas Sowell's Economic Facts and Fallacies

#1

There are several common fallacies in economics, and they are often used to push forward economic policies that will cause havoc in the long run.

#2

There are five economic fallacies that are widespread and that can be called the zero-sum fallacy, the fallacy of composition, the post hoc fallacy, the chess-pieces fallacy, and the open-ended fallacy.