Thomas Sowell - Is "Income Stagnation" an Economic Myth?

Complete video at: http://fora.tv/2008/02/21/Uncommon_Kn...

Hoover Institution Senior Fellow Thomas Sowell argues that reports of stagnation among American incomes over the last several decades are economic and political myths.

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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 - Hoover Institution

Thomas Sowell is an American economist, political writer, and commentator. He is currently a senior fellow of the Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science.

Peter M. Robinson is a research fellow at the Hoover Institution, where he writes about business and politics, edits Hoover's quarterly journal, the Hoover Digest, and hosts Hoover's television program, Uncommon Knowledge.

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[gtfan44]

let me put it this way: that's why i'm watching this video instead of doing my econ homework.

[AtibbsSPARTAN]

How many thousands of misguided high school and college teachers are out there spewing misguided facts about family income?

It's scary how little people know about economics.

[as ad]

its weird how these guys laugh so much but not suprising considering they both work with hoover inst.

[jwvc1]

And who came to whom for help? You description of consulting for a fee is laughable. If Bain was never HIRED by KB, they most likely would have gone into bankruptcy sooner. And I'm curious, what does "fucking the employees" mean? Could you perhaps explain that in adult terms with substance, instead of profanity?

[hngldr]

Why not both?

[no infor]

"you can be the greediest person nd your income will not go up". BULLLSHIT bain capital is the prime example of greed when they drove KB toys into bankruptcy. they loaded the company with debt so on the books they were making NO MONEY therefore taxes didnt need to be paid, the company isnt profiting. meanwhile consulting feees and bonuses were handed out to bain employees "advising" kb how to get over on the system by fucking the employees at retail level. management consulting is a fucking joke

[Mike Renders]

Why the HELL is Krugman even a reply here?