This book contains a rather childish, simplistic and slanted view of our economy. And if you already understand economics on anything but a 8th grade level, you can pretty much skip it. I found that 80% of the information contained in the book is irrefutable, but a solid 20% is the product of faulty right-wing political thinking. Some examples:
The authors say that government is rife with corruption and waste. While corruption and waste do exist in government, it is likely not fair to paint with such a broad brush given the spending cuts and efficiencies that have happened over the past five years. Government spending is down. While corporate corruption seems to be accepted or overlooked by the authors.
The authors state that markets are the best way to make an economy grow. But they conveniently overlook government programs like the GI Bill, the Marshall Plan and the Interstate Highway act that had massive impacts on the US and world economy.
The authors also largely overlook the substantial greed and corruption in the private sector and discount the notion that there is a fundamental imbalance between the haves and have nots in our society largely caused by the people in their own industry. They are very good at pointing to a problem, and assigning blame (and bringing the same old gold standard argument up again), but they have no true thoughts on what to do to make the US economy more vibrant and diverse and equitable. If they think we will go back to 1920s monetary policy, they are mistaken.
And when the authors, who also narrated this book, started imitating the late Teddy Kennedy while portraying a corrupt politician, I had to shut the book off. Pete and Andy, you're no Teddy Kennedy.
I can deal with the whole economy based on fish on a desert island concept, but they take it way too far. And after an hour or so, it just gets annoying. What I can't take for a minute is the same level of simplicity and black and white thinking applied to social economics and the inequality in international markets. This book is too full of faulty thinking and slanted viewpoints to take seriously.
This book is why economics fails. We are to learn about the authors opinions about how he thinks economics works in the real world. To do this he creates a total fictitious land and then translates from the fiction to reality. This does not work. Lets start with some basics. On his island everyone not only does every one have a job this job provides for all the basic needs. Clearly this does not exist anywhere in the real world and with such a base how can you believe all that flows from this world would translate into ours. He also ignores history. He views all regulations as bad. There was a reason regulations are created and often they solve a problem. In our recent history we have deregulated banks and savings and loans both lead to huge bailouts. I could go as with his poor explanation of why the gold standard is so important. After all in his world fish do provide a real benefit to the inhabitants they can eat it and survive. How is gold similar. It only has value because others want it not. How does he explain the tulip bubble or the internet bubble? This occurred with out any government involvement. I would leave his fantasy world in fantasy land and take no useful lessons from such dribble.
An Ansett Airlines Refugee from Melbourne in Australia, living in Dubai and flying for Emirates. Author of ON TOUR, TravelsWithAnAirline Pilot.
Lose the fish analogies.
I read a review saying that they were (a) humorous and (b) interacting as they discussed the topic. The review was wrong.
Everything relating to the FISH economy.
Buy Peter's other book CRASH 2.0 and read that. It's instructive, and whilst being a promotional ad for his business - it's worth the listen. As for THIS BOOK? I am gonna ask for my money back.
This is more of a polemic than an economic argument. It is well written and quite entertaining, but it is not a clear or useful explanation of anything to do with our economy.
There is nothing to be learned from this book so don't waste your credits. I reccommend The Ascent of Money as a much better book on this topic.
Husband, Father; Accounting, Tax, Financial Planning (CPA) Professional; Radio Amateur (NJ6A), American Conservative.
This fish story with commentary is worth hearing again and again. For those who understood ecconomics this book may clear away the errors of Keynes modern interpreters. For those who do not or did not understand ecconomics this book will bring enlightenment and a true understanding of ecconomic principles.
Not because of the pace of the book, but because of the impending crash that is looming in the not-too-distant horizon. Many reviewers have lamented that Schiff's witty story/text is too basic. I would agree on the point that it is basic, but surprisingly few seem to truly understand the content as the American public has elected economically ignorant government representatives for the past century or more.
This book is witty (who knows how long it took them to come up with all of the fish-related names) and logical. I would use it if I taught a middle school or early high school economics class with the hope that it would sink in that our country...uh, I mean Usonia, is in DEEP trouble.
A bit corny, pleasantly entertaining, and a good refresher. I hope more will listen and take the message to heart.
The most basic of explanations on how economies work and grow. This book definitely has a pro free-market/libertarian bias (which I completely agree with), but it was hard for even me to get through. Very, very basic. If you have ever taken a class on economics, pass. If you are a socialist, schooled in Lenin/Marxism, get this book.
The narrator tells a great story - this story or any other he reads. He contributes to the simplicity of the writing to make this very complicated topic both entertaining and easy to learn. I'm not sure if the authors (who narrated this book) have a future in narration, but they certainly made this a quick and easy lesson for me, as well as gave me an entertaining story.
I've made given a "5" very special, but this is a strong B+.
Yes, to further appreciate basic economic principals including supply and demand and inflation.
The sale of the waterworks
The making of the first net.
As with all education - start with simple concepts and then incorporate them in to the bigger structure. This made the larger structure later in the book comprehensible and to make clear the madness operating under the fabricated cloak of complexity.
A collection of interesting characters drawn from real life illustrating not malicious intent, but human nature when freed from restraint.
Performances are always entertaining when the characterisations are in line with the authors original intent.
It's the economy stupid!