Absolutely, remembering that this is an engaging read and good for the cardio. A perfect treadmill book.
This book takes a simple parable approach to economics.
The scenes where donkeys were exchanged for Llamas as a fix for the "grass guzzling" carts.
This book is an earworm, you will find yourself quoting the book and applying the story to your daily life.
The way the two brothers made a imaginary story to convey their ideas
The ah's of understanding
Made me sick how our politicians play with us "peasants"
Great read to understand how the economy works and who is in charge.
relevant, easily explained great parable the more times you listen the more you learn
I loved this book and would listen to it again in a heart-beat. The analogy is entertaining, accurate and in many cases, quite funny. I found myself laughing out loud at the character names who represent real people from American economic history.
The readers (and authors) did an excellent job reading the story. Andrew Schiff read the analogy and Peter would jump in with a series of
The climactic ending was both dramatic and prophetic. I found myself loving the ending and hating it at the same time. I loved the irony but hate how tragic the ending is for the people in the book. The United States is on the same path as the people in the book unless policy makers hit the brakes on current policy and change direction.
The book is essentially a parable of the growth of an economy, and eventually the growth and 20th century crises of the American economy. I can't say that it taught me a lot I didn't already know, but it does provide lots of information in condensed form. The format of a parable helps to clarify the authors' points, however it might also over-simplify, and make it easier to ignore points that might not fit with the authors' viewpoint. The points made do feel over-simplified at-times, and a slightly deeper discussion would have helped.
Their viewpoint, by the way, is quite reasonable - that the idea that consumer spending (fuelled by government-backed cheap credit) can be an engine of economic growth is an absurdity. Economic growth has to be based on actual production. They heavily criticize the US administration's response to the current crisis (throwing more money at the market, and pushing even more cheap credit - that caused the crisis in the first place). The essence of their argument is that the heavy government meddling in the market is at-least partially responsible for the meltdown, and that their response prevents the market from healing - the companies/people who made foolish choices, like trying to "flip" investment homes, should pay the price, instead of transferring their mistakes to all tax-payers.
Even if you don't fully agree with their analysis, this is an enjoyable listen, and I recommend it.
My 9 year old son started listening to this with me. He said "Dad so the fish is money?" and then put his book down and listened on our 2 hour road trip. I love it when a book can be both educational and fun and the topic be something important and usually dry like economics. Thank you for the excellent book.
Say something about yourself!
Schiff does a great job of explaining how an economy is created from production and exchange. Then he goes on to explain how government activities disrupt production in favor of consumption. Everyone should listen to this. It is a better introduction than I received the 2 graduate-level economics classes I took from a major university.
and we want to defend him because he really did mean to evade taxes but it was because of his beliefs about the economy and not his greed that led him to break the law egregiously and repeatedly.
Is there ANY way I can get back my money? I only got through 20 minutes before i realized this was nothing but right-wing propaganda. The Austrian School should remain in Austria (just as Hitler should have.)
Everything between Introduction and End.
I really do want my money back.
Yes, it's a great story to listen to while working.
Easy to follow along with.
I did in fact.
Great. I've retold this story to my children and they love it.
No real need to listen to this again. The narrative is simple and iconic enough to stick in your head. It's a back to basics book about a subject that is so thickly smeared in opinions, money and technical analysis that this is all you really need to read to know "the basics"
What sticks in my mind about this book is how simply the author presents a subject that has always baffled me.
So his other book is more of a "this is where you should put your money" type book. It's a little more specific with the economic diction being a little thicker.
..ahhhh so that's how we came to be the way we are!
If you hated economics, finance and business when you were a kid and now your kinda thinking, well maybe that stuff might be important. Read this book first before you do anything else.