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
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.
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.
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!
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.
For a more detailed understanding and explanation of the topics discussed in this book check out "The Real Crash" by Peter D Schiff
Report Inappropriate Content