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Publisher's Summary

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
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Customer Reviews

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By Christian on 11-15-10

Good idea but it gets a little confusing.....

Peter Schiff is a really interesting guy who is passionate about economics. This book attempts to teach what has happened in the US up to this point and and what will happen in the short term future. My problem with the book is two fold. Firstly, he starts with a metaphor about three people on an island. Unfortunately, the metaphor is extended too far and, so some extent, it seemed to make things more complicated. The second issue with the book is that I thought this was an explanation of the mechanics of economics generally, not a metaphor for the case study of the US. There were some good gems such as, "Inflation is the transfer of wealth from those who have savings in that currency to those who hold debt in that currency." But I would have like more gems like that. I guess it does do the job of simplifying some concepts, but I would have preferred him to stop the metaphor at a point and talk more about reality. Which he did to some extent, but more reality and less fishflation would have been more appealing to me. If you like Peter Schiff, or Austrian Economics, you might as well get the book. If you are new to economics, get Henry Hazlitt's book.

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14 of 14 people found this review helpful


By Bryan on 10-09-11

Non-Keynsian economics

I enjoyed this book, although the fish metaphor got a bit stale. I had serious disagreements with the premises several times, but it gave an excellent explanation of conservative economic beliefs. The readers were very good. It is not easy, I would think, to make an economics treatise interesting enough to keep the listener's attention. These readers do so.

A short read but one that will probably stay in your mind for quite a while.

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22 of 23 people found this review helpful

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By Dennis on 02-09-16

Go and buy emergency groceries

Good book that explains the markets very well on the basis of an fictious island.

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By Siam on 10-01-15

Mandatory for everyone

This book is an excellent guide to basic economics. The narrative style makes it easy to follow no matter what you are doing and the subtle referencing and underlying humour keeps the novel fresh and interesting. I would say this is a must read for anyone in the finance industry but to be honest, based on its educational value, I think it should be mandatory for everyone.

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By Dainen on 03-05-16

Very well written, will change your perspective.

Very well written, easy to follow story, cleverly explains some quite complex economic functions.
Hard to fault the logic and a real eye opener.

I now see the world with greater clarity.

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