How an Economy Grows and Why It Crashes

How an Economy Grows and Why It Crashes

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Straight answers to every question you've ever had about how the economy works and how it affects your life In this Collector's Edition of their celebrated How an Economy Grows and Why It Crashes, Peter Schiff, economic expert and bestselling author of Crash Proof and The Real Crash, once again teams up with his brother Andrew to spin a lively economic fable that untangles many of the fallacies preventing people from really understanding what drives an economy. The 2010 original has been described as a Flintstones take economics that entertainingly explains the beauty of free markets. The new edition has been greatly expanded in both quantity and quality. A new introduction and two new illustrated chapters bring the story up to date, and most importantly, the book makes the jump from black and white to full and vivid color. With the help of colorful cartoon illustrations, lively humor, and deceptively simple storytelling, the Schiff's bring the complex subjects of inflation, monetary policy, recession, and other important topics in economics down to Earth. The story starts with three guys on an island who barely survive by fishing barehanded.
Then one enterprising islander invents a net, catches more fish, and changes the island s economy fundamentally. Using this story the Schiffs apply their signature take-no-prisoners logic to expose the glaring fallacies and gaping holes permeating the global economic conversation. The Collector s Edition: * Provides straight answers about how economies work, without relying on nonsensical jargon and mind-numbing doublespeak the experts use to cover up their confusion * Includes a new introduction that sets the stage for developing a deeper, more practical understanding of inflation and the abuses of the monetary system * Adds two new chapters that dissect the Federal Reserve s Quantitative easing policies and the European Debt Crisis. * Colorizes the original book's hundreds of cartoon illustrations. The improved images, executed by artist Brendan Leach from the original book, add new vigor to the presentation * Has a larger format that has been designed to fit most coffee tables. While the story may appear simple on the surface, as told by the Schiff brothers, it will leave you with a deep understanding of How an Economy Grows and Why It Crashes.
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Product details

  • Hardback | 288 pages
  • 234 x 235 x 19mm | 1,076g
  • New York, United States
  • English
  • Illustrated
  • Collector's Edition
  • colour illustrations
  • 1118770277
  • 9781118770276
  • 64,710

Flap copy

If you don't have your facts straight, explaining how an economyworks can be like trying to catch brook trout with your bare hands.Watching the parade of self-appointed "experts" twist logic intopretzels in order to make useless economic forecasts is enough tomake the average person change the channel. Could it be that thetalking heads don't have a clue? Is it possible that the "dismalscience," as economics has become known, is neither as complicatednor as dismal as you've been led to believe?

According to the authors of this thoroughly entertainingintroduction to economics, the answer is a resounding "Yes!" It'sall a matter of where you start and how you tell the tale.

In this expanded and colorized Collector's Edition oftheir award-winning book How an Economy Grows and Why ItCrashes, Peter Schiff, economic expert and bestselling authorof Crash Proof, The Little Book of Bull Moves, andThe Real Crash, once again teams up with brother AndrewSchiff to shed light on economic mysteries with an informative andextremely amusing allegory. The Schiffs' story takes place on atropical island where hunter-gatherer cavemen struggle daily tocatch fish for their basic survival. As the island economy developsand becomes increasingly dynamic, layer upon layer of institutionsand government entities spring up to protect the islanders' savingsand assets, leading to ever-increasing levels of complexity. But, at the core, the economic engines remain the same.

Served up with lavish portions of wit--and a super-sizedhelping of common sense on the side--the Schiffs deftly explainmany widely misunderstood aspects of economics, including the rootcauses of growth, the uses of capital, the destructive nature ofconsumer credit, the causes of inflation and deflation, and manyothers.

The book is an expansion and update of the celebrated cartoonbook written in the early 1980s by the Schiffs' father Irwin, arenowned economist and forecaster in his own right. For thisCollector's Edition, all of the book's existingillustrations (by graphic artist Brendan Leach) have been vibrantlycolorized, and two new chapters (with new illustrations) have beenadded that wryly comment on recent economic developments. Thisedition also features a new introduction, in which the authorsreflect on the dangers presented by the ever increasing reliance onexpansive monetary policy.

A book that proves that economics can be much easier to wrapyour head around than you ever imagined--not to mention rousinggood fun--How an Economy Grows and Why It Crashes, Collector's Edition gives you the straight answers you'vealways craved and spares you the mind-numbing doublespeak thatexperts have used to cover up their own cluelessness.
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Back cover copy

"If you feel you want to get a decent grasp of free-marketeconomics . . . this book is the perfect place to start."
--Daniel Hannan,

"How an Economy Grows and Why It Crashes makes economicsfun and accessible. Bestselling author and 2010 U.S. Senatecandidate Peter D. Schiff and his brother Andrew J. Schiff, communications director of Euro Pacific Capital, convey the oftenintuitive ideas of economics through an engaging, fictitious storyrichly illustrated with amusing cartoons."
--The Washington Times

At last, straight answers to some of economics' more vexingquestions. With the help of colorful cartoon illustrations, livelyhumor, and deceptively simple storytelling, brothers Peter andAndrew Schiff bring the complexity of economics down to earth forall to understand. Along the way, the brothers apply theirsignature take-no-prisoners logic to expose the glaring fallaciesand gaping holes that permeate the global economic conversation.The book is designed so that all people, even teenagers, can gain abetter grasp of what turns the economic wheels of progress and whatmakes them stop turning.

Overflowing with wit and common sense, this new Collector'sEdition of How an Economy Grows and Why It Crashesexplains:

The roots of economic growthWhy some countries are rich and others are poorThe importance of trade and risk takingThe sources of inflationThe effects of interest rates and government stimulusThe destructive nature of consumer creditWhy saving is better than spending as a cure for a badeconomyAnd other frequently discussed, yet poorly understood, economicprinciples

While the story may appear simple on the surface, as told by theSchiff brothers, it will leave you with a deep understanding ofHow an Economy Grows and Why It Crashes.
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Table of contents

Disclosure VIII Author's Note IX Introduction XI Chapter 1 An Idea Is Born 1 Chapter 2 Sharing The Wealth 13 Chapter 3 The Many Uses Of Credit 27 Chapter 4 Economic Expansion 37 Chapter 5 Prosperity Loves Company 47 Chapter 6 Put It In The Vault 63 Chapter 7 Infrastructure And Trade 77 Chapter 8 A Republic Is Born 91 Chapter 9 Government Gets Creative 101 Chapter 10 Shrinking Fish 119 Chapter 11 A Lifeline From Afar 129 Chapter 12 The Service Sector Steps Up 141 Chapter 13 Closing The Fish Window 153 Chapter 14 The Hut Glut 161 Chapter 15 The Hut Rut 177 Chapter 16 Stepping On The Gas 193 Chapter 17 The Fish Hit The Fan 209 Epilogue 223 Acknowledgments 229 About The Authors 231 About The Illustrator 233
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About Peter D. Schiff

Peter D. Schiff is CEO and Chief Global Strategist of Euro Pacific Capital, an SEC-Registered Investment Advisor and a full-service broker/dealer, and Chairman of Euro Pacific Precious Metals. He is a widely followed opponent of debt-fueled growth policies and known for his advocacy of emerging market and commodity-focused investments in countries with positive economic and fiscal characteristics. Mr. Schiff has been quoted hundreds of times in leading news outlets around the world, including the Wall Street Journal, Barron's, Die Zeit, Tokyo Shimbun, South China Morning Post, Investor's Business Daily, the Financial Times, the New York Times, the Los Angeles Times, and the Washington Post. He appears regularly on CNBC, CNN, BBC, Al Jazeera, Fox News, and Fox Business. Andrew J. Schiff, a veteran media and marketing consultant in the financial services industry, leads the communications and media effort at Euro Pacific Capital. Andrew has worked closely with his brother Peter for nearly a decade, first as an outside consultant and then as a key member of the Euro Pacific team. He has helped develop, refine, and target Euro Pacific strategic communications for media and clients.
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Rating details

2,920 ratings
4.14 out of 5 stars
5 44% (1,277)
4 34% (1,004)
3 16% (466)
2 4% (123)
1 2% (50)
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