32 Best Books Written By Thomas Sowell

Best Books Written By Thomas SowellT

homas Sowell writes from a libertarian conservative perspective. Sowell has written more than thirty books, and his work has been widely anthologized. Sowell is a National Humanities Medal recipient for an innovative scholarship that incorporated history, economics, and political science.

Best Books Written By Thomas Sowell: THE LIST

1. Charter Schools and Their Enemies

View Price
Unlimited Reading
Unlimited Summaries
A leading conservative intellectual defends charter schools against the teachers’ unions, politicians, and liberal educators who threaten to dismantle their success.

The black-white educational achievement gap — so much discussed for so many years — has already been closed by black students attending New York City’s charter schools. This might be expected to be welcome news. But it has been very unwelcome news in traditional public schools whose students are transferring to charter schools. A backlash against charter schools has been led by teachers’ unions, politicians, and others — not only in New York but across the country. If those attacks succeed, the biggest losers will be minority youngsters for whom a quality education is their biggest chance for a better life.

2. Discrimination and Disparities

View Price
Unlimited Reading
Unlimited Summaries
Economic and other outcomes differ vastly among individuals, groups, and nations. Many explanations have been offered for the differences. Some believe that those with less fortunate outcomes are victims of genetics. Others believe that those who are less fortunate are victims of the more fortunate.
Discrimination and Disparities gathers a wide array of empirical evidence to challenge the idea that different economic outcomes can be explained by any one factor, be it discrimination, exploitation, or genetics. This revised and enlarged edition also analyzes the human consequences of the prevailing social vision of these disparities and the policies based on that vision–from educational disasters to widespread crime and violence.

3. Wealth, Poverty and Politics: An International Perspective

View Price
Unlimited Reading
Unlimited Summaries

In Wealth, Poverty, and Politics, Thomas Sowell, one of the foremost conservative public intellectuals in this country, argues that political and ideological struggles have led to dangerous confusion about income inequality in America. Pundits and politically motivated economists trumpet ambiguous statistics and sensational theories while ignoring the true determinant of income inequality: the production of wealth. We cannot properly understand inequality if we focus exclusively on the distribution of wealth and ignore wealth production factors such as geography, demography, and culture.

Sowell contends that liberals have a particular interest in misreading the data and chastises them for using income inequality as an argument for the welfare state. Refuting Thomas Piketty, Paul Krugman, and others on the left, Sowell draws on accurate empirical data to show that the inequality is not nearly as extreme or sensational as we have been led to believe.

Transcending partisanship through a careful examination of data, Wealth, Poverty, and Politics reveals the truth about the most explosive political issue of our time.

4. Basic Economics: A Common Sense Guide to the Economy

View Price
Unlimited Reading
Unlimited Summaries

The bestselling citizen’s guide to economics.

Basic Economics is a citizen’s guide to economics, written for those who want to understand how the economy works but have no interest in jargon or equations. Bestselling economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.

This fifth edition includes a new chapter explaining the reasons for large differences in wealth and income between nations.

Drawing on lively examples from around the world and from centuries of history, Sowell explains basic economic principles for the general public in plain English.

Quotes from Basic Economics;

“Bombing does more immediate damage to a city, but many cities have rapidly rebuilt in the post-war world. Rent control does more long-lasting damage because people do not understand the basic economics of it.”

“Monopoly is the enemy of efficiency, whether under capitalism or socialism.”

“It does not matter that a law or policy proclaims its goal to be ’affordable housing,’ ’fair trade,’ or ’a living wage.’” What matters is what incentives are created by the specifics of these laws and how people react to such incentives.”

“Our social visions and our rhetoric are about ’the rich’ and ’the poor,’ as if we were talking about people who are born, live and die in poverty or luxury, while the reality is that most Americans do not stay in the same income quintile for as long as a decade.”

“Many apparently humanitarian policies have backfired throughout history because of a failure to understand the role of prices.”

“Fights over which individuals and groups get how big a slice of the pie create the kinds of emotion and controversy on which the media and politicians thrive.”

5. Intellectuals and Race

View Price
Unlimited Reading
Unlimited Summaries

Thomas Sowell’s incisive critique of the intellectuals’ destructive role in shaping ideas about race in America.

Intellectuals and Race is a radical book in the original sense of one that goes to the root of the problem. The role of intellectuals in racial strife is explored in an international context that puts the American experience in a wholly new light.

The views of individual intellectuals have spanned the spectrum, but the views of intellectuals as a whole have tended to cluster. Indeed, these views have clustered at one end of the spectrum in the early twentieth century and then clustered at the opposite end of the spectrum in the late twentieth century. Moreover, these radically different views of race in these two eras were held by intellectuals whose views on other issues were very similar in both eras.

Intellectuals and Race are not, however, a book about history, even though it has much historical evidence, as well as demographic, geographic, economic, and statistical evidence — all of it directed toward testing the underlying assumptions about race that have prevailed at times among intellectuals in general, and especially intellectuals at the highest levels. Nor is this simply a theoretical exercise. The impact of intellectuals’ ideas and crusades on the larger society, both past, and present, is the ultimate concern. These ideas and crusades have ranged widely from racial theories of intelligence to eugenics to “social justice” and multiculturalism.

In addition to in-depth examinations of these and other issues, Intellectuals and Race explores the incentives, the visions, and the rationales that drive intellectuals at the highest levels to conclusions that have often turned out to be counterproductive and even disastrous, not only for particular racial or ethnic groups but for societies as a whole.

6. The Thomas Sowell Reader

View Price
Unlimited Reading
Unlimited Summaries

A one-volume introduction to over three decades of the wide-ranging writings of one of America’s most respected and cited authors.

These selections from the many writings of Thomas Sowell over a period of a half-century cover social, economic, cultural, legal, educational, and political issues. The sources range from Dr. Sowell’s letters, books, newspaper columns, and articles in both scholarly journals and popular magazines. The topics range from late-talking children to “tax cuts for the rich,” baseball, race, war, the role of judges, medical care, and the rhetoric of politicians. These topics are dealt with by sometimes drawing on history, sometimes drawing on economics, and sometimes drawing on a sense of humor.

The Thomas Sowell Reader includes essays on:* Social Issues* Economics* Political Issues* Legal Issues* Race and Ethnicity* Educational Issues* Biographical Sketches* Random Thoughts

7. Intellectuals and Society

View Price
Unlimited Reading
Unlimited Summaries

The influence of intellectuals is not only greater than in previous eras but also takes a very different form from that envisioned by those like Machiavelli and others who have wanted to directly influence rulers. It has not been by shaping the opinions or directing the actions of the holders of power that modern intellectuals have most influenced the course of events, but by shaping public opinion in ways that affect the actions of power holders in democratic societies, whether or not those power holders accept the general vision or the particular policies favored by intellectuals. Even government leaders with disdain or contempt for intellectuals have had to bend to the climate of opinion shaped by those intellectuals.

Intellectuals and Society not only examine the track record of intellectuals in the things they have advocated but also analyze the incentives and constraints under which their views and visions have emerged. One of the most surprising aspects of this study is how often intellectuals have been proved not only wrong but grossly and disastrously wrong in their prescriptions for the ills of society — and how little their views have changed in response to empirical evidence of the disasters entailed by those views.

8. Black Rednecks & White Liberals

View Price
Unlimited Reading
Unlimited Summaries

This explosive new book challenges many of the long-prevailing assumptions about blacks, about Jews, about Germans, about slavery, and about education. Plainly written, powerfully reasoned, and backed with a startling array of documented facts, Black Rednecks and White Liberals take on not only the trendy intellectuals of our times but also such historic interpreters of American life as Alexis de Tocqueville and Frederick Law Olmsted. In a series of long essays, this book presents an in-depth look at key beliefs behind many mistaken and dangerous actions, policies, and trends. It presents eye-opening insights into the historical development of the ghetto culture that is today wrongly seen as a unique black identity–a culture cheered on toward self-destruction by white liberals who consider themselves “friends” of blacks. An essay titled “The Real History of Slavery” presents a jolting re-examination of that tragic institution and the narrow and distorted way it is too often seen today. The reasons for the venomous hatred of Jews, and of other groups like them in countries around the world, are explored in an essay that asks, “Are Jews Generic?” Misconceptions of German history in general, and of the Nazi era in particular, are also re-examined. So too are the inspiring achievements and painful tragedies of black education in the United States. “Black Rednecks and White Liberals” is the capstone of decades of outstanding research and writing on racial and cultural issues by Thomas Sowell.

9. Economic Facts and Fallacies

View Price
Unlimited Reading
Unlimited Summaries

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 economic fallacies about academia, race, and 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.

Quotes from Economis Facts and Fallacies;

“Some things are believed because they are demonstrably true. But many other things are believed because they are consistent with a widely held vision of the world – and this vision is accepted as a substitute for facts.”

“Fallacies are not simply crazy ideas. They are usually both plausible and logical – but with something missing.”

“Many desirable things are advocated without regard to the most fundamental fact of economics, that resources are inherently limited and have alternative uses.”

“Some popular fallacies…are centuries old and were refuted centuries ago, even if they are repackaged in up-to-date rhetoric to suit current times.”

“Perhaps most dangerous of all is the practice of not subjecting fashionable beliefs to the test of facts, but instead accepting or rejecting beliefs according to how well they fit some pre-existing vision of the world.”

“Most male-female economic differences are accounted for by factors other than employer discrimination, but that does not mean that there have been no instances of discrimination.”

“Questions about the existence, magnitude and consequences of racial discrimination cannot be answered with gross statistics.”

“Throughout history, the world has abounded with differences that are today called ‘disparities’ or ‘inequalities,’ even in situations where they cannot be explained by discrimination.”

“Perhaps the biggest fallacy…is the implicit assumption that there is something intellectually baffling or morally wrong about the fact that different nations have different per capita incomes.”

“Some might even say that race itself is a fallacy in a world where racial intermixtures keep increasing…even while the stridency of separate racial identities becomes louder.”

“Gross income differences between groups can easily lead to fallacious conclusions, if various demographic, educational and other differences are ignored.”

“In many kinds of endeavors, the costs of not admitting to being wrong are too high to ignore.”

10. Dismantling America

View Price
Unlimited Reading
Unlimited Summaries

These wide-ranging essays — on many individual political, economic, cultural, and legal issues — have as a recurring, underlying theme the decline of the values and institutions that have sustained and advanced American society for more than two centuries. This decline has been more than an erosion. It has, in many cases, been a deliberate dismantling of American values and institutions by people convinced that their superior wisdom and virtue must over-ride both the traditions of the country and the will of the people.

Whether these essays (originally published as syndicated newspaper columns) are individually about financial bailouts, illegal immigrants, gay marriage, national security, or the Duke University rape case, the underlying concern is about what these very different kinds of things say about the general direction of American society.

This larger and longer-lasting question is whether the particular issues discussed reflect a degeneration or dismantling of America that we once knew and expected to pass on to our children and grandchildren. There are people who determined that this country’s values, history, laws, traditions, and role in the world are fundamentally wrong and must be changed. Such people will not stop dismantling America unless they get stopped — and the next election may be the last time to stop them before they take the country beyond the point of no return.

11. Late-Talking Children

View Price
Unlimited Reading
Unlimited Summaries

The painful and baffling mystery as to why some obviously bright children do not begin talking until long after the “normal” time is explored in this book through personal experiences and the findings of scientific research. The author’s own experiences as the father of such a child led to the formation of a group of more than fifty sets of parents of similar children. The anguish and frustration of these parents as they try to cope with children who do not talk and institutions that do not understand them is a remarkable and moving human story. Fortunately, some of these children turn out to have not only normal intelligence but even outstanding abilities, especially in highly analytical fields such as mathematics and computers. These fascinating stories of late-talking children and the remarkable families from which they come are followed by explorations of scientific research that throw light on unusual development patterns.

12. The Vision of the Anointed

View Price
Unlimited Reading
Unlimited Summaries

Sowell presents a devastating critique of the mindset behind the failed social policies of the past thirty years. Sowell sees what has happened during that time not as a series of isolated mistakes but as a logical consequence of a tainted vision whose defects have led to crises in education, crime, and family dynamics, and to other social pathologies. In this book, he describes how elites—the anointed—have replaced facts and rational thinking with rhetorical assertions, thereby altering the course of our social policy.

13. A Conflict of Visions

View Price
Unlimited Reading
Unlimited Summaries

Controversies in politics arise from many sources, but the conflicts that endure for generations or centuries show a remarkably consistent pattern. In this classic work, Thomas Sowell analyzes this pattern. He describes the two competing visions that shape our debates about the nature of reason, justice, equality, and power: the “constrained” vision, which sees human nature as unchanging and selfish, and the “unconstrained” vision, in which human nature is malleable and perfectible. A Conflict of Visions offers a convincing case that ethical and policy disputes circle around the disparity between both outlooks.

14. The Quest for Cosmic Justice

View Price
Unlimited Reading
Unlimited Summaries

This book is about the great moral issues underlying many of the headline-making political controversies of our times. It is not a comforting book but a book about disturbing and dangerous trends. The Quest for Cosmic Justice shows how confused conceptions of justice end up promoting injustice, how confused conceptions of equality end up promoting inequality, and how the tyranny of social visions prevents many people from confronting the actual consequences of their own beliefs and policies. Those consequences include the steady and dangerous erosion of fundamental principles of freedom — amounting to a quiet repeal of the American revolution.
The Quest for Cosmic Justice is the summation of a lifetime of study and thought about where we as a society are headed — and why we need to change course before we do irretrievable damage.

15. Controversial Essays (Hoover Institution Press Publication)

View Price
Unlimited Reading
Unlimited Summaries

One of conservatism’s most articulate voices dissects today’s most important economic, racial, political, education, legal, and social issues, sharing his entertaining and thought-provoking insights on a wide range of contentious subjects. –“This book contains an abundance of wisdom on a large number of economic issues.” –Mises Review

16. Is Reality Optional?: And Other Essays

View Price
Unlimited Reading
Unlimited Summaries

Sowell challenges all the assumptions of contemporary liberalism on issues ranging from the economy to race to education in this collection of controversial essays and captures his thoughts on politics, race, and common sense with a section at the end for thought-provoking quotes.

17. The Einstein Syndrome

View Price
Unlimited Reading
Unlimited Summaries

The Einstein Syndrome is a follow-up to Late-Talking Children, which established Thomas Sowell as a leading spokesman on the subject of late-talking children. While many children who talk late suffer from developmental disorders or autism, there is a certain well-defined group who are developmentally normal or even quite bright, yet who may go past their fourth birthday before beginning to talk. These children are often misdiagnosed as autistic or retarded, a mistake that is doubly hard on parents who must first worry about their apparently handicapped children and then see them lumped into special classes and therapy groups where all the other children are clearly very different. Since he first became involved in this issue in the mid-90s, Sowell has joined with Stephen Camarata of Vanderbilt University, who has conducted a much broader, more rigorous study of this phenomenon than the anecdotes reported in Late-Talking Children. Sowell can now identify a particular syndrome, a cluster of common symptoms and family characteristics, that differentiates these late-talking children from others; relate this syndrome to other syndromes; speculate about its causes, and describe how children with this syndrome are likely to develop.

18. Conquests and Cultures

View Price
Unlimited Reading
Unlimited Summaries

This book is the culmination of 15 years of research and travels that have taken the author completely around the world twice, as well as on other travels in the Mediterranean, the Baltic, and around the Pacific rim. Its purpose has been to try to understand the role of cultural differences within nations and between nations, today and over centuries of history, in shaping the economic and social fates of peoples and of whole civilizations. Focusing on four major cultural areas(that of the British, the Africans (including the African diaspora), the Slavs of Eastern Europe, and the indigenous peoples of the Western Hemisphere — Conquests and Cultures reveals patterns that encompass not only these peoples but others and help explain the role of cultural evolution in economic, social, and political development.

19. "Trickle Down Theory" and "Tax Cuts for the Rich"

View Price
Unlimited Reading
Unlimited Summaries

This essay unscrambles gross misconceptions that have made rational debates about tax policies virtually impossible for decades.

20. Applied Economics: Thinking Beyond Stage One

View Price
Unlimited Reading
Unlimited Summaries

The application of economics to major contemporary real-world problems — housing, medical care, discrimination, the economic development of nations — is the theme of this new book that tackles these and other issues head-on in plain language, as distinguished from the usual jargon of economists. It examines economic policies not simply in terms of their immediate effects but also in terms of their later repercussions, which are often very different and longer-lasting. The interplay of politics with economics is another theme of Applied Economics, whose examples are drawn from experiences around the world, showing how similar incentives and constraints tend to produce similar outcomes among very disparate peoples and cultures.

Quotes from Applied Economics: Thinking Beyond Stage One;

“Families, gangs, feudal warlords, insurance companies, partnerships, commodity speculators, and issuers of stocks and bonds are all in the business of reducing and transferring risk.”

“For purposes of economic analysis, what matters is not what goals are being sought but what incentives and constraints are being created in pursuit of those goals.”

“More pedestrians and motorists are likely to suffer injuries or death because more high-risk drivers can afford to be on the roads and highways than could do so if auto insurance rates were allowed to rise to the very high rates required to compensate for the damage done by reckless drivers.”

“As markets replaced politically managed economic decision-making, China experienced one of the highest economic growth rates in the world.”

“Although rent control is often thought of as a way to protect the poor from unaffordable housing, only the poor who initially occupied the rent-controlled housing benefit.”

“As far as the practical effect on patients is concerned, advertising is as much of an ingredient in the drug’s benefits as any of the pharmaceutical components themselves.”

“Paying less and getting less – whether less is defined quantitatively or qualitatively – is no bargain, least of all in the case of medical care.”

“Political thinking tends to conceive of policies, institutions or programs in terms of their hoped-for results – ’drug prevention’ programs, ’profit-making’ enterprise, ’public-interest’ law firms, ’gun control’ laws, and so forth.”

21. Wealth, Poverty and Politics

View Price
Unlimited Reading
Unlimited Summaries

In Wealth, Poverty, and Politics, Thomas Sowell, one of the foremost conservative public intellectuals in this country, argues that political and ideological struggles have led to dangerous confusion about income inequality in America. Pundits and politically motivated economists trumpet ambiguous statistics and sensational theories while ignoring the true determinant of income inequality: the production of wealth. We cannot properly understand inequality if we focus exclusively on the distribution of wealth and ignore wealth production factors such as geography, demography, and culture.

Sowell contends that liberals have a particular interest in misreading the data and chastises them for using income inequality as an argument for the welfare state. Refuting Thomas Piketty, Paul Krugman, and others on the left, Sowell draws on accurate empirical data to show that the inequality is not nearly as extreme or sensational as we have been led to believe.

Transcending partisanship through a careful examination of data, Wealth, Poverty, and Politics reveals the truth about the most explosive political issue of our time.

22. Ethnic America: A History

View Price
Unlimited Reading
Unlimited Summaries

This classic work by the distinguished economist traces the history of nine American ethnic groups — the Irish, Germans, Jews, Italians, Chinese, African-Americans, Puerto Ricans, and Mexicans.

23. Barbarians Inside the Gates and Other Controversial Essays

View Price
Unlimited Reading
Unlimited Summaries

A collection of essays that discusses such issues as the media, immigration, the minimum wage, and multiculturalism.

24. Ever Wonder Why? And Other Controversial Essays

View Price
Unlimited Reading
Unlimited Summaries

Thomas Sowell takes aim at a range of legal, social, racial, educational, and economic issues in this latest collection of his controversial, never-boring, always thought-provoking essays. From “gun control myths” to “mealy mouth media” to “free lunch medicine,” Sowell gets to the heart of the matters we all care about with his characteristically unsparing candor.

25. Inside American Education

View Price
Unlimited Reading
Unlimited Summaries

An indictment of the American educational system criticizes the fact that the system has discarded the traditional goals of transmitting knowledge and fostering cognitive skills in favor of building self-esteem and promoting social harmony.

26. A Personal Odyssey

View Price
Unlimited Reading
Unlimited Summaries
This is the gritty story of one man’s lifelong education in the school of hard knocks, as his journey took him from Harlem to the Marines, the Ivy League, and a career as a controversial writer, teacher, and economist in government and private industry. It is also the story of the dramatically changing times in which this personal odyssey took place.
The vignettes of the people and places that made an impression on Thomas Sowell at various stages of his life range from the poor and the powerless to the mighty and the wealthy, from a home for homeless boys to the White House, as well as ranging across the United States and around the world. It also includes Sowell’s startling discovery of his own origins during his teenage years.
If the child is father to the man, this memoir shows the characteristics that have become familiar in the public figure known as Thomas Sowell already present in an obscure little boy born in poverty in the Jim Crow South during the Great Depression and growing up in Harlem. His marching to his own drummer, his disregard of what others say or think, even his battles with editors who attempt to change what he has written, are all there in childhood.
More than a story of the life of Sowell himself, this is also a story of the people who gave him their help, their support, and their loyalty, as well as those who demonized him and knifed him in the back. It is a story not just of one life, but of life in general, with all its exhilaration and pain.

27. Civil Rights: Rhetoric or Reality

View Price
Unlimited Reading
Unlimited Summaries
It is now more than three decades since the historic Supreme Court decision on desegregation, Brown v. Board of Education. Thomas Sowell takes a tough, factual look at what has actually happened over these decades — as distinguished from the hopes with which they began or the rhetoric with which they continue, Who has gained and who has lost? Which of the assumptions behind the civil rights revolution has stood the test of time and which have proven to be mistaken or even catastrophic to those who were supposed to be helped?

28. Education: Assumptions Versus History

View Price
Unlimited Reading
Unlimited Summaries
In the papers collected in Education: Assumptions versus History, Dr. Thomas Sowell takes a hard look at the state of education in our schools and universities. His imperative is to test the assumptions underlying contemporary educational policies and innovations against the historical and contemporary evidence.

29. Affirmative Action Around the World

View Price
Unlimited Reading
Unlimited Summaries

This book moves the discussion of affirmative action beyond the United States to other countries that have had similar policies,
often for a longer time than Americans have. It also moves the discussion beyond the theories, principles, and laws that have been so often debated to the actual empirical consequences of affirmative action in the United States and in India, Nigeria, Malaysia, Sri Lanka, and other countries. Both common patterns and national differences are examined. Much of what emerges from a factual examination of these policies flatly contradicts much of what was expected and much of what has been claimed.

30. Man of Letters

View Price
Unlimited Reading
Unlimited Summaries

A Man of Letters traces the life, career, and commentaries on controversial issues of Thomas Sowell over a period of more than four decades through his letters to and from family, friends, and public figures ranging from Milton Friedman to Clarence Thomas, David Riesman, Arthur Ashe, William Proxmire, Vernon Jordan, Charles Murray, Shelby Steele, and Condoleezza Rice. These letters begin with Sowell as a graduate student at the University of Chicago in 1960 and conclude with a reflective letter to his fellow economist and longtime friend Walter Williams in 2005.

31. The Housing Boom and Bust

View Price
Unlimited Reading
Unlimited Summaries

This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The “creative” financing of home mortgages and the even more “creative” marketing of financial securities based on American mortgages to countries around the world are part of the story of how a financial house of cards was built up — and then suddenly collapsed.

The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened when the financial house of cards in the financial markets collapsed.

What to do, now that we are in the midst of an economic disaster, is yet another story — one whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons.

Quotes The Housing Boom and Bust;

“To single out home ownership or any other goal as the crusade of the day – as a ‘good thing’ – ignores the fact that virtually nothing is a good thing categorically.”

“Whether we look at the American economy in general or the housing market in particular, we see a history of remarkable progress for generation after generation – and a few recent years when things turned very bad, very quickly.”

“Bad ages to live through are good ages to learn from.”

“And the bedrock answer is: Because mortgage loans were made to more people whose prospects of repaying them were less than in the past.”

“The bedrock question then is: Why did so many monthly mortgage payments stop coming?”

“The study of history is a powerful antidote to contemporary arrogance.” (British historian Paul Johnson)

“Whatever the merits…of the logic or evidence on which charges of biased lending were based, the political impact of such beliefs has been powerful.”

“Home buyers in a variety of circumstances now had reasons to default on their mortgages – and they proceeded to do so, whether they had to or whether they simply chose to.”

“Politicians in Washington set out to solve a national problem that did not exist – a nationwide shortage of ‘affordable housing’.”

“Riskier loans were accepted as good loans by one of the key regulators of the housing markets.”

“Some of the least knowledgeable and least experienced home buyers were now financing their purchases with some of the newest and most complicated mortgages.”

“First-time buyers have also more often than others resorted to various ‘creative’ – and risky – methods of financing the purchase of a home.”

“The record-breaking housing price rises that preceded the record-breaking housing market collapse were not evenly spread across the United States but were heavily concentrated in a relatively few places.”

32. Say's Law: An Historical Analysis

View Price
Unlimited Reading
Unlimited Summaries

Say’s Law—the idea that “supply creates its own demand”—has been a basic concept in economics for almost two centuries. Thomas Sowell traces its evolution as it emerged from successive controversies, particularly two of the most bitter and long-lasting in the history of the discipline, the “general glut controversy” that reached a peak in the 1820s, and the Keynesian Revolution of the 1930s. These controversies not only involved almost every noted economist of the time but had repercussions on basic economic theory, methodology, and sociopolitical theory. This book, the first comprehensive coverage of the subject, will be an indispensable addition to the history of economic thought. It is also relevant to all social sciences concerned with economic prosperity, with the nature of intellectual orthodoxy and insurgency, or with the complex relationships among ideology, concepts, and policies.

Originally published in 1972.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Final Thoughts on the Best Books Written By Thomas Sowell

Thomas Sowell has served on the faculties of several universities, including Cornell University and the University of California, Los Angeles. Sowell has also worked at think tanks such as the Urban Institute. Since 1980, he has worked at the Hoover Institution at Stanford University, where he presently serves as the Rose and Milton Friedman Senior Fellow on Public Policy.

Happy reading!

Do you see a book that you think should be on the list? Let us know your feedback here.

This page may contain affiliate links. This website may contain content that comes from Amazon. This website and its pages are not intended to constitute legal, financial, or tax advice. The information on this website and its pages are not intended to constitute investment advice and all content are the views and opinions of the author(s), contributors, or administrators. Please read our disclaimer for more info.

Hi. My Name is

James Gheen

Welcome to the Bigger Investing website. I’m here to help you find the resources, motivation, and guidance for all entrepreneurial, investing, business, career endeavors, and more, so that you can invest in what’s most important. Your mind!

My focus is to equip you with expert sources, books, guides, articles, and more to help you achieve your personal goals.

Want to learn more? Take a look.

getabstract ad


Read in Graphics

Rich Dad Summit Ad

What Does a Career Portfolio Consist Of?

What Does a Career Portfolio Consist Of?

career portfolio is a collection of work samples and documents that demonstrate your skills, qualifications, experience, and potential to new employers. Many different aspects of a career portfolio can vary depending on the individual's needs....

How Can I Improve My Job Hunting Skills?

How Can I Improve My Job Hunting Skills?

ob hunting is hard. There are so many things to think about and do, that it can be overwhelming. But there are also some simple job hunting tips you can follow to improve your job search experience. In this blog post, we focus on the most...

What are Career Planning Tools?

What are Career Planning Tools?

areer planning tools are designed to help people better plan out their careers, which is important for several reasons. Knowing what skills you have and where your interests lie will help you find the best jobs that match those desires. Career...

What is Strategic Planning Experience?

What is Strategic Planning Experience?

trategic planning is an important part of any career. It's more than just a job title; strategic planners help guide the company towards its goals. This person will be responsible for developing strategies to solve problems, set priorities, and...

What are Career Planning Skills?

What are Career Planning Skills?

hat are career planning skills? Are they the same as career development skills? This blog post will answer this question and more. What does it mean to have a successful job search, or how can you tell if your resume is good enough for an...

What is Strategic Career Planning?

What is Strategic Career Planning?

hat is strategic career planning? Strategic career planning is a process of evaluating your skills, interests, and values to determine the best course for you. Career development consultants are experts in this field and can help you with...

How Do You Write a Career Strategy Plan?

How Do You Write a Career Strategy Plan?

hat does a career strategy plan entail? A career strategy plan is a document that outlines the goals and objectives of your business, as well as how they can be achieved. If you are looking to improve your business's competitiveness in terms of...

What are the Elements of a Business Strategy?

What are the Elements of a Business Strategy?

any elements go into business strategy. This blog post will explore what these elements are, and how they work together to help your business succeed. These include everything from the industry you're into the way you market your product or...

What is Single Branding?

What is Single Branding?

ingle branding refers to a business strategy that is focused on one brand instead of multiple brands. The single branding strategy is often used by companies such as Coca-Cola, Nike, Adidas, and Apple. Single branding can be beneficial for...

What is Umbrella Branding Strategy?

What is Umbrella Branding Strategy?

hat is umbrella branding? It's a business strategy that can help you grow your brand and make more money. The goal of this marketing tactic is to create a recognizable name or logo for your company, which increases customer loyalty and makes it...

What is Multi-Branding?

What is Multi-Branding?

hen you think about your business, you likely have a general idea of what branding means. Branding is the process of creating and maintaining an identity for a company in the minds of its customers or potential customers. This includes all aspects...

What is Family Branding Strategy?

What is Family Branding Strategy?

family branding strategy is a business marketing strategy that uses the family name or image as the brand. This type of branding technique can be very effective for companies with a strong and well-known family, such as The Walt Disney Company....

What is a Private Branding Strategy?

What is a Private Branding Strategy?

rivate branding is a strategy that can be used by entrepreneurs and companies to differentiate their business from competitors. Private brands are those products or services which have been created, manufactured, or marketed under one company's...

What is Range Branding Strategy?

What is Range Branding Strategy?

any business owners are tired of the same old branding strategies that have been used for years. They might not know it, but there's a range of branding strategies out there and it can help them break from the norm! In this blog post, we will...

Which REITs Pay the Highest Dividend?

Which REITs Pay the Highest Dividend?

hat are the best-paying REITs? Which commercial real estate companies pay the highest dividend per share? The answer to this question is not as easy as you might think. There are many factors that go into determining which REIT pays the highest...

How Can I Make My Brand Powerful?

How Can I Make My Brand Powerful?

he most important thing is to know your brand. If you don't, then it will be impossible for you to find a way to make it powerful. You want your brand to represent what your business stands for, and if that's not the case with how you're currently...

What Are the Five Main Areas of Branding Strategy?

What Are the Five Main Areas of Branding Strategy?

ne of the most important aspects of running a business is branding. What does your business say about you? Do you want to be seen as trustworthy, or professional? Your logo and slogan are part of this process, but there are other elements too -...

What is the Best Branding Strategy?

What is the Best Branding Strategy?

he best branding strategy is the one that works for your company. In this blog post, we will discuss what some of those strategies are and how they can be applied to your business. We will also provide you with a few examples so that you can...

What is a Maverick leader?

What is a Maverick leader?

maverick is a rebel. They are different from their peers in that they buck the trends, and think for themselves. A maverick leader is someone who does not follow the pack but leads it instead. This type of leadership has been around since ancient...

What are the Characteristics of an Assertive Person?

What are the Characteristics of an Assertive Person?

ssertive people are confident in themselves and their abilities, and they don't back down when it comes to defending what they believe. They know who they are, where they want to go with their life, and how to get there. Assertive people are...

Where is AI Used in Business?

Where is AI Used in Business?

rtificial intelligence is rapidly changing the landscape of business and industry. AI has been used in a wide variety of industries to make processes more efficient, improve efficiency, and reduce costs. In this blog post, we will explore where AI...

What is the Role of Artificial Intelligence in the Business?

What is the Role of Artificial Intelligence in the Business?

rtificial intelligence is one of the most important innovations in business. It has been an integral part of the development and success of many businesses, including Amazon, Apple, Google, Microsoft, and IBM. As more and more industries become...

Should a Leader be Assertive?

Should a Leader be Assertive?

ne of the most important traits that a leader should have is assertiveness. Leaders are often required to make decisions and take charge to be successful. But how does assertiveness play into this? In this blog post, we will explore what assertive...

What is Assertiveness in the Workplace?

What is Assertiveness in the Workplace?

ssertiveness is the ability to express one's opinions and feelings directly and straightforwardly. It can be difficult when people are unsure of how to balance their need for self-expression with their responsibility to show consideration for...

Why is Assertiveness Important in Business?

Why is Assertiveness Important in Business?

here are two main reasons why assertiveness is so important in business. First, it helps you to stand out from your competition. When people come across your website or company profile online, they can't help but notice how confident and...

What is the Most advanced AI in the World?

What is the Most advanced AI in the World?

t's a question that has been debated for years: what is the most advanced AI in the world? Artificial intelligence, or AI, has advanced to new levels of complexity and human-likeness. This article will explore some of the most advanced artificial...

What are the Four types of Artificial Intelligence?

What are the Four types of Artificial Intelligence?

rtificial intelligence is a hot topic these days. With the advancement of AI, many people are wondering what it means for humans and how we should prepare ourselves for the future. And with all this talk about artificial intelligence, you might be...

Thomas Sowell32 Best Books Written By Thomas Sowell