How an Economy Grows and Why It Crashes: Two Tales of the Economy

How an Economy Grows and Why It Crashes: Two Tales of the Economy

Book rating: 05 Hardback

By (author) Peter D. Schiff, By (author) Andrew J. Schiff

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  • Publisher: John Wiley & Sons Ltd
  • Format: Hardback | 256 pages
  • Dimensions: 154mm x 232mm x 24mm | 458g
  • Publication date: 18 May 2010
  • Publication City/Country: Chichester
  • ISBN 10: 047052670X
  • ISBN 13: 9780470526705
  • Illustrations note: ill
  • Sales rank: 21,737

Product description

How an Economy Grows and Why it Crashes uses illustration, humor, and accessible storytelling to explain complex topics of economic growth and monetary systems. In it, economic expert and bestselling author of Crash Proof, Peter Schiff teams up with his brother Andrew to apply their signature "take no prisoners" logic to expose the glaring fallacies that have become so ingrained in our country's economic conversation. Inspired by How an Economy Grows and Why It Doesn't a previously published book by the Schiffs' father Irwin, a widely published economist and activist How an Economy Grows and Why It Crashes incorporates the spirit of the original while tackling the latest economic issues.With wit and humor, the Schiffs explain the roots of economic growth, the uses of capital, the destructive nature of consumer credit, the source of inflation, the importance of trade, savings, and risk, and many other topical principles of economics. The tales told here may appear simple of the surface, but they will leave you with a powerful understanding of How an Economy Grows and Why it Crashes.

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Author information

Peter D. Schiff is the bestselling author of Crash Proof 2.0: How to Profit from the Economic Collapse and The Little Book of Bull Moves in Bear Markets . This is his first collaboration with his brother Andrew J. Schiff , a recognized expert in economic and financial communications.

Customer reviews

By Roger Tan 23 Nov 2010 5

I?ve completed reading this book and I can say that I have learned a lot better about the economy from it than from an economic textbook. The authors, Peter D Schiff & Andrew J Schiff, show you how an economy grows (from scratch) to how it prospers and how it suffers. I especially like that he uses fish to represent money in his story telltale; money a concept that is easily manipulated. The story, presented using illustrations in a humorous and sometimes satirical manner, relates much to how our present economy is being managed. The book is such an easy read that a primary school kid can begin to enjoy such subject like economics, while the grown ups can get a truer understanding of economics. He explains how some economist and ?experts? have their fundamental understanding backwards and make it seem so complex that the average joe would be easily duped. Heard of fishflation (inflation) before? If not, read this book. ;)

Review quote

‘If you feel you want to get a decent grasp of free-market economics…this book is the perfect place to start.' (Daniel Hannan, Telegraph.co.uk/Blog, July 2010).

Back cover copy

EveR WONDER . . .Why governments can spend without ever seeming to run out of money?Why some countries are rich while others are poor?Whether spending or saving is the best cure for a bad economy?Where inflation comes from?Why it's so hard to catch a fish with your bare hands?"How An Economy Grows And Why It Crashes"Understanding how all the pieces of an economy fit together can be a daunting task--especially when the experts can't seem to do it. But when you get down to the basics, it is much easier than you may think. "How an Economy Grows and Why It Crashes" uses illustrations, humor, and accessible storytelling to take economics off its lofty shelf and put it back on the kitchen table where it belongs.This straightforward story of fish, nets, saving, and lending exposes the gaping holes that lie hidden in our global economic conversation. With wit and humor, the Schiffs explain the roots of economic growth, the importance of trade, savings, and risk, the source of inflation, the effects of interest rates and government stimulus, the destructive nature of consumer credit, and many other economic principles that are so frequently discussed and so poorly understood.The story may appear simple on the surface but it will leave you with a powerful understanding of "How an Economy Grows and Why It Crashes."

Table of contents

Introduction. In the Beginning... Chapter 1: An Idea is Born. Chapter 2: Sharing the Wealth. Chapter 3: The Many Uses of Credit. Chapter 4: Economic Expansion. A Few Generations Later. Chapter 5: Prosperity loves Company. Chapter 6: Put it in the Vault. Chapter 7: Infrastructure and Trade. Chapter 8: A Republic is Born. A Few Generations Later. Chapter 9: Government Gets Creative. Chapter 10: Shrinking Fish. Chapter 11: A Lifeline from Afar. Chapter 12: The Service Sector Steps Up. Chapter 13: Closing the Fish Window Chapter 14: The Hut Glut. Chapter 15: The Hut Rut Chapter 16: Stepping on the Gas A Few Generations Later. Chapter 17: The Fish Hit the Fan. Epilogue. Acknowledgments. About the Authors.