How an Economy Grows and Why it Crashes uses illustration, humor, and accessible storytelling to explain complex topics of economic growth and monetary systems. In it, economic expert and bestselling author of Crash Proof, Peter Schiff teams up with his brother Andrew to apply their signature "take no prisoners" logic to expose the glaring fallacies that have become so ingrained in our country's economic conversation.
Inspired by How an Economy Grows and Why It Doesn't - a previously published book by the Schiffs' father Irwin, a widely published economist and activist - How an Economy Grows and Why It Crashes incorporates the spirit of the original while tackling the latest economic issues.
With wit and humor, the Schiffs explain the roots of economic growth, the uses of capital, the destructive nature of consumer credit, the source of inflation, the importance of trade, savings, and risk, and many other topical principles of economics.
The tales told here may appear simple of the surface, but they will leave you with a powerful understanding of How an Economy Grows and Why it Crashes.
©2010 Peter D. Schiff and Andrew J. Schiff. All rights reserved. (P)2010 Audible, Inc
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
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.
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!
I would recommend this book to anyone who cares about their future and that of their children. It is approachable and understandable even by middle schoolers...and should be.
I would compare this straightforward analysis of how things work the way they do with Something for Nothing by Brian Tracy, but its story-telling style is like Og Mandino's work in its appeal and charm.
This is the first time I have read/listened to these authors.
Isles of Plenty, Oceans of Poor
Anyone with a mind that cares about how the world is changing, what works and what does not work and why should read/listen to this work.
Needed information done in an easy to understand format of story telling.
The effects of fake fish.
My children started to loss understanding about chapter 5-8. On the other hand I think that is about the same thing that happens to the population of any society that does this to their economic system.
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