Economics Facts and Fallacies

Thomas Sowell has studied and taught economics, intellectual history, and social policy at institutions that include Cornell University, UCLA, and Amherst College. Now a senior fellow at the Hoover Institution, Sowell has published more than a dozen books, the latest of which is a revised and expanded second edition of Economic Facts and Fallacies.

"Some things are believed because they are demonstrably true. But many other things are believed simply because they have been asserted repeatedly," states Sowell in his latest book. Here, he demolishes some accepted "facts," ranging from housing ("The biggest economic fallacy about housing is that 'affordable housing' requires government intervention") to race and economics ("Race doesn't account for difference in black-white income") to race and culture ("the current fatherless families so prevalent among contemporary blacks are not a 'legacy of slavery.'") About 33 minutes.

Peter Thiel on the Economic Situation

Peter Thiel argues that a book published in France in 1968, Le Defi Americain (The American Challenge) has a lot to say to us in the United States in 2008 and discusses why the U.S. has failed to rise to the heights predicted by its author, J. J. Servan-Schreiber.

In explaining what's wrong with the U.S. economy, Thiel points out that, although we have benefited from growth that is both extensive (e.g., free trade) and intensive (e.g., technology), we have not featured enough of each.

He asserts that the credit crisis of 2008 has nothing to do with the failings of the free market but rather is a by-product of government entanglement, nurtured by the motors of economic growth working less well than expected. Remember while much of what Sowell says is of interest to libertarians, he is NO libertarian. About 38 minutes.

How Exchange Has Improved the Human Race.

A former science and technology editor for The Economist magazine, Matt Ridley is a journalist and best-selling author whose books includeGenome: The Autobiography of a Species in 23 Chapters. His most recent book is The Rational Optimist: How Prosperity Evolves.

Matt Ridley discusses the evolutionary process of "ideas having sex," calling it the secret behind human progress. He asserts that "barter was the trick that changed the world" and outlines his argument that life for the average human being is richer, healthier, and kinder than ever. Finally, he discusses whether limited government and rational optimism go hand in hand. About 33 minutes.'

Incentive and Institutions

From the IHS Vault: Economics professor Howie Baetjer of Towson University discusses how institutions, both public and private, affect the incentives that individuals face. These incentives impact the issues people care about, such as wildlife conservation. Filmed at the 2006 IHS seminar "Exploring Liberty" at Princeton University. About 75 minutes.

Economics professor Howie Baetjer of Towson University explains how the market process generates improvements in the human condition. In particular, he highlights how profit & loss serve to help people channel their activities in creative and socially useful directions. Filmed at the 2006 IHS seminar "Exploring Liberty" at Princeton University. About 55 minutes.

Terror as Stimulus?

Just over 2 minutes.

Dr. Israel Kirzner: Morality, Efficiency and Markets

Dr. Kirzner challenges the idea that while markets may be efficient they are immoral. About one hour.

Beyond Efficiency from FEE on Vimeo.

Evolution, progress and economics.

Matt Ridley, an Oxford-educated zoologist, turned to journalism in 1983 when he got a job as The Economist's science reporter. He soon became the magazines Washington correspondent and eventually served as its American editor.

Ridley has written several acclaimed books that combine clear explanations of complex biology with discussions of the sciences implications for human society. In the reason.tv interview, Ridley discusses some of the themes in The Red Queen: Sex and the Evolution of Human Nature; The Origins of Virtue: Human Instincts and the Evolution of Cooperation; Genome: The Autobiography of a Species in 23 Chapters; and Nature via Nurture: Genes, Experience, & What Makes Us Human; as well as his forthcoming book which seeks to understand how and why human progress happens.

Paul Feine and Alex Manning interviewed Ridley in the Milton and Rose Friedman Reading Room at Chapman University in Orange, California. About 9 minutes.

Thomas Sowell on Economics

Peter Robinson speaks with Thomas Sowell about his new book Economic Facts and Fallacies in which Sowell exposes some of the most popular fallacies about economic issues.

Sowell takes on the conventional thinking on a wide swath of America's economic life, from male-female economic differences to income stagnation, executive pay, and social mobility to economics of higher education. In all cases he demonstrates how economics relates to the social issues that deeply affect our country. About 30 minutes.

The Entrepreneur as American Hero

Prof. Walter Williams on the role of the entrepreneur. About 50 minutes.

An evening with Dr. Milton Friedman

An evening discussion with Dr. Milton Friedman, about 1 hour 20 minutes.

Economics of Inner City Gangs

Freakonomics author Steven Levitt discusses the economic principles at work within inner city gangs. About 20 minutes.