In Wealth, Poverty, and Politics, Thomas Sowell, one of the foremost conservative public intellectuals in the 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, Sowell draws on 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.
©2015 Thomas Sowell (P)2015 Blackstone Audio, Inc.
The author brings clarity and common sense to questions of importance. If you are interested in the many reasons for social progress, prosperity, inequality and the success or failure of government programs, read this book.
Common Sense. It is a term so reflexively invoked that its true meaning has been diluted and its significance misplaced. But it is with this foundational component that Dr. Sowell concocts all of his brilliant analyses of economic conundrums, many of which are truly not as complex as they have been made out to be.
Wielding the power of Occam's Razor, Wealth, Poverty, and Politics is the latest in this long stream of impactful contributions from Sowell. He is my favorite economist, though if you happen to find yourself deeply embedded within the throes of the intelleligentsia, he could very easily become your least favorite after his crystal-clear interpretations of statistical quagmires effectively shatters everything you thought you knew about current affairs.
Proceed with caution and excitement. Highly Recommended.
Great book must read. Gives perspective to conditions today. Provides facts and analysis to support counter arguments to many fallacies circulating in popular culture, politicians, and the media.
brilliant. while a lot of it already covered in his other books, such as culture and conquest, this book is still amazing. I can't recommend it enough and should be required reading.
This book uses an information based argument to better understand the driving forces of cultural movements of 2015. The book spends time showing similar movements causes and effects on a global scale.
Amazing book. I read this because my economics class wasn't cutting it. This book gave me a much better understanding of the economics than my teacher.
That's all need be said. But since this review requires 20 words, I will add that he's very skilled at providing both the general overview and interesting, supporting detail
This is one of the top books I've listened to so far... the facts help an individual approach situations on a new level.
I didn't have an extreme reaction, but the book really did make me think of how every situation has two sides to it.
I love espionage, legal, and detective thrillers but listen to most genres. Very frequent reviews. No plot spoilers! Please excuse my typos!
I've reviewed two other Thomas Sowell books here so it should be no surprise that I view him as a national treasure. He is also one of the wisest people in the world. Wealth, Power and Politics covers a lot of human economic history as well as surveying economic conditions in the around much of the world today. Sowell makes the case that social justice warriors hate concerning income distribution: The five quintiles of income distribution are not static because people move from poverty to comfort and even wealth sometimes to drop back to lesser earnings during their lives. Personal and family income is not static during out lives. Many people leave poverty while others descent into poverty. He also notes that income is not wealth although our tax laws treat it as such. Sowell also makes the often missed point that government income statistics are based on family income and that those with higher income also have larger and intact families.
As a southerner who grew up in a rural white redneck culture and , indeed, in such a family, I appreciate that Sowell writes that what one often sees in urban black neighborhoods is a very similar culture. He makes that case more strongly in his book Black Rednecks and White Liberals.
Sowell also discusses slavery as a situation that was not a situation unique US or one that has only impacted blacks. Slavery has been practiced in many societies for many centuries. The west ended slavery. My personal view is that slavery and Jim Crow that followed its end in the south are major blots on US history.
It is a pity that the people who most need to read or listen to this book are the progressives who will not read it.
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