If only every politician were forced to read this, we may not live in a world where our leaders seem to have lost all understanding of the fact that we must produce, save and only then spend & invest!
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.
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.
This book explains all of the complicated issues with spending money into the best metaphor EVER! It is simple. I even thought about sending a copy to the President! Great read, great explanation. Highly recommended.
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.
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.
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