Milton Friedman says he didn't think much of Hayek's The Road to Serfdom. He now thinks it is a "deceptively simple and deep idea" It also shows the fallacy of trying to teach two different things that they will find relevant, he says. Other than Hayek, what are some of the other economists that have influenced your thinking? You went to Chicago specifically to study under George Stiegler.
Thomas Sowell of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the ideas in his new book, Economic Facts and Fallacies. He discusses the misleading nature of measured income inequality, CEO pay, why nations grow or stay poor, the role of intellectuals and experts in designing public policy, and immigration.