Continuing the gorgeous demolition derby in which he sideswipes one muddle-headed fallacy after another, Thomas Sowell today explains why Americans are growing richer, not poorer, despite all the claims we keep hearing about “stagnating household incomes.”

“The ‘household’ thing is really the tipoff,” Sowell says. “Whenever I see somebody quoting ‘household income,’ I know he’s just trying to make things look bad.”

Executive pay? Sowell begins by turning the usual explanation for soaring compensation packages—greed, of course—upside down. “You could become the greediest person in the world and it wouldn’t raise your pay by one time. The question is not why executives accept this money but why other people are offering it to them.”

Today on Uncommon Knowledge, more of the inimitable and altogether admirable Thomas Sowell talking about his latest book, Economic Facts and Fallacies.