propaganda for a hyper free-market, neoliberal economic agenda that purely remains in the realm of not-so-well constructed thought models and doesn't even bother to provide a decent factual, empirical basis. it's a book for people who reject to think for themselves.
This book basically opened my mind to how economy's of the past grew and why our current system is inferior and unfortunately about to fall. It was a great book they use facts to back thier data up and I would recommend it to anyone interested in the economy
This is basic information most people don't know. Easily understood but very profound. A must read. Read it please. Ok
Faced with mindless duty, when an audio book player slips into a rear pocket and mini buds pop into ears, old is made new again.
"How the Economy Grows" reminds one of the story of “Chicken Little”, the 1943 animated film. The sky is falling according to the Schiffs because economists do not know what they are doing when tinkering with economic policy.
The Schiffs create an apocryphal tale of economic growth to simplify everyone’s understanding of economics. The “fish tale” they create is summarized at the end of each chapter with real world opinions about various real people–like John Maynard Keynes, Franklin Roosevelt, Alan Greenspan, Ronald Reagan, Henry Paulson, George W. Bush, Ben Bernanke, Barrack Obama; etc. Their tale suggests all of these men fail to understand the “truth” about what makes an economy grow and why it crashes. Putting aside the fact that neither of these authors are economists and neither have policy responsibilities like the people they criticize; one takes their opinion with reservation.
The Schiffs view economics through the prism of unbridled capitalism without regard to human consequence. Their fundamental argument is that government interferes rather than protects fair play in capitalist countries. Without using the words “trickle-down economics”, the Schiffs believe everyone benefits from capitalism.
One has to agree that government does interfere with capitalism but not always to the detriment of its citizens. Human beings are flawed. They are both good and evil because money, power, and prestige are motive forces in all humanity. Whether one is a business person or a government leader, he/she is motivated by human nature and, as a consequence, makes good and bad decisions. The Schiff tale of fishes infers that business capitalists always know best because they make decisions based on freedom of choice and market forces. The Schiffs infer that if capitalists make good choices everyone prospers; if they make bad choices they go out of business—they argue capitalist freedom is a win, win proposition.
Yes, just like Bernie Madoff who sits in jail while thousands of bilked investors lost their savings because they believed in Madoff’s capitalist vision—shame on those dumb investors. The Schiffs are right, Madoff is out of business.
The Schiffs are correct–bad government regulation impairs capitalism but no government regulation releases capitalist immorality. Human beings are flawed; complete freedom is anarchy.
The story was extremely educational. A real simplistic look at how simple economics really are. And how our country has used past economic dominance to fool the rest of the world. It was a WAKE UP CALL
The reality checks, where Schiff constantly reflects the story with real happenings today.
It's short, and very simple. Thought it was very well read, and well told.
The story line is simple, engaging, and fits very well with the reality we see around us. The simple truth is that you can't spend more than you make. Our current economic policies will come due at some point, and this book does a great job of explaining how and why.
Economics, like religion or health, is often seen as an incomprehensible mess of contradictory guesswork; but it's not, or at least it doesn't have to be. This book begins with a short explanation of the two theories of economics, then teaches us economics by using a simple and continuous story. The story is built line by line, easy to follow, and only requires the smallest bit of non-reality to make economics as simple as can be.
I didn't pay a lot of attention to which author was reading what. Both read well, alternating between one reading the story and the other reading the explanation/takeaway.
I liked the book so much I bought the new hardcover collector's edition and plan to tell the story to my kids.
This book should be basic required reading for all Americans.
Is very usefull and makes you understand that all we need to be productive not only consumer, and get you in the knowledge of how an economy works