J. V. Bruni and Company
1528 North Tejon Street
Colorado Springs, Colorado 80907
(719) 575-9880 or (800) 748-3409
J. V. Bruni and Company1528 North Tejon Street Colorado Springs, Colorado 80907 (719) 575-9880 or (800) 748-3409
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Economic Facts and Fallacies,
by Thomas Sowell. 
Perhaps more
dangerous than Americans' remarkable ignorance of economics is the
number of economic fallacies that many people insist are true. For
example, long-term economic growth has benefitted the large majority of
Americans. That's a fact. Indeed, between 1969 and 1996, per capita
income after inflation rose about 51%. However, family income rose only
about 6% over the same period, not because the rich got richer and the
poor barely got by, but because rising per capita incomes have made more
people independent, thus contributing to a decrease in average family
size. As you can see, facts out of context can mislead. Sowell
corrects a number of classic economic fallacies with facts and common
sense analyses, leading the reader to important economic truths. |
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