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How an Economy Grows and Why It Crashes #2020

How an Economy Grows and Why It Crashes 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 a

  • Title: How an Economy Grows and Why It Crashes
  • Author: Peter D. Schiff Andrew J. Schiff
  • ISBN: 9780470526705
  • Page: 207
  • Format: Hardcover
  • How an Economy Grows and Why It Crashes By Peter D. Schiff Andrew J. Schiff, 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 ingHow 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.

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      Peter D. Schiff Andrew J. Schiff

    1 thought on “How an Economy Grows and Why It Crashes

    1. If you read this one book, and then formulate your opinions about the market with this material alone, you are a moron This book will forever stick in my memory as a yardstick to determine intelligence by I told my wife that it isn t bad, per se It s just stupid, wrong, and written for a 5th grader Admittedly, it simplifies a huge problem in a concise manner but that s the problem It is such an oversimplification that it allows the author to subtly interject erroneous beliefs into the narrative [...]

    2. Peter Schiff exposes the flaw in Keynesian economics through the use of an extended allegory or parable His story involves an island nation that grows from subsistence living to great prosperity and then declines The island nation represents the United States The story serves as a warning against Keynesianism.In the beginning, there are only three men Each man catches and eats one fish per day Then, one man decides to forgo his meal for the day to build a net, which proves successful and subsequ [...]

    3. This book is pure, unadulterated genius.It explains where we ve come from and where we re headed It explains how Keynesian ideas have prospered over Austrian economics, even though they are utterly, hopelessly wrong and are ruining our country I cannot recommend this highly enough to anyone who cares about America I read it in two days, easily, and so can you Who doesn t have two days to change their life Quotes We are told that we must go deeper into debt to fix out debt crisis, and that we mus [...]

    4. This book reflects my views and style than anything I have read that s not my own Hence the rating could not have been any different Economic theories need to be de jargonized every now and then to understand the stupidity of some of the things that policymakers do or are recommended to do Extremely few people, with many experts excluded, tend to understand the basic meaning of some their pet economic solutions or policies Complex theories effectively lead to equivocation, obfuscation of who be [...]

    5. This is my review on dated October 22, 2013 The book walks you through the basics of island economics, in which FUNDAMENTAL ECONOMIC PRINCIPLES in a hypothetical three man initially economy are explained.It is basically an allegory of the US economic history riddled with lots of illustrations that add visual dimension to the humor in which the authors present the story No, a touch of humor does not at all downplay the seriousness of the subject matter, nor does it detract anything from the LOGIC [...]

    6. Worum ging es in dem Buch Dieses Buch erkl rt den Verlauf der Wirtschaft der USA mithilfe einer Parabel Drei M nner leben auf einer Insel Die Wirtschaft w chst und es kommen mehr Menschen hinzu, weil immer wieder Unternehmer Opfer und Risiken auf sich nehmen, um Werte zu schaffen Es entsteht ein Staat, der den Markt immer mehr verzerrt Es erfolgt der bergang zur Papierw hrung, Blasen und Crashs.Was habe ich gelernt Ich habe leider nicht viel gelernt, was ich vorher schon wusste Allerdings war es [...]

    7. Fun, but flawed.As a basic primer on the evolution of economies, this book is a light and fluffy start for the layman Where it is flawed, however, is that it s written with a conclusion already in mind and the analogy on which it builds is therefore twisted to suit that view The trouble is that the gold standard, which this book extols, is not the same as an economy based on fish fish being a resource which can be replenished and grown A real economy, based on gold, can only be stifled by the li [...]

    8. Very entertaining and a remarkably easy read Schiff argues compellingly that the basic principles of an economy remain basically the same between large and small economies He allegorizes how an economy grows in the story of small fishing economy, providing many clear insights in economics along the way.

    9. This book must be read at an age when your mind is ready to differentiate between the prevalent economic ideologies and their merits demerits but certainly not before an age where you cannot locate the fallacies in the author s arguments Without any background in economics, I personally wish I could have read it before my post graduation in business management.

    10. A really good easy explanation for what s happening with our economy and why, for people who couldn t be further from economic theory Perfect Can this be required reading for our federal government and ALL high school seniors This instead of a standardized test please.

    11. The allegory in this book is useful for understanding economic principles, but the author s main message seems to be that an unregulated market economy is always the best thing for everyone, and problems occur only when government steps in to try to help Everyone on the island seems to benefit equally from advances in technology somehow the guy catching fish still earns a livable wage even when there s someone who owns all the nets and boats It seems to me it s easy to say look where Keynesian e [...]

    12. Mimo uproszcze , wci wietna ksi ka, kt ra wyja nia przyczyny i skutki globalnego kryzysu z lat 2007 2010 W jasny spos b opisuje dlaczego ten problem nie zosta jak dot d rozwi zany i dlaczego jego przykre konsekwencje zosta y jedynie odroczone w czasie.

    13. Economy will be better off by running free market Artificially low interest rate to stimulate spending is not the way to boost recover the economy The governments attempts to smooth out the volatility of free markets by expanding the supply of money and running large budget deficits when times were tough set a greater fall in the future.good fact Inflation is simply a means to transfer wealth from anyonewho has savings in a particular currency to anyone who hasdebt in the same currency With hype [...]

    14. How an Economy Grows and Why it Crashes is an enjoyable read by Peter and Andrew Schiff It is obviously a simple allegory, but I think it does a great job to illustrate things that have happened and continue to happen on a global scale Due to the economics profession, most people believe that macroeconomics is beyond their understanding Much of the economics profession has I believe intentionally obfuscated basic concepts to put them out of reach of the layman I laughed out loud a few times thro [...]

    15. This is the first book I have read two times back to back For economics majors who were only exposed to Keynesian economics, this book serves as a wake up call The book s substance and argument are profound despite its fun tone with the wonderful cartoons displayed throughout and its compact size and accessible language no American should go about their lives without reading it When reading the news about how Fed pondering raising interest rates later in 2015 since they claim the economic fundam [...]

    16. With the simplest and most interesting approach, the author demonstrated the main economic principles staring from microeconomics to the international trade with a highlight on the relationship between china and the US.The book starts by a tale of three men living on an island with one requirement to live,Each one has to catch at least one fish.For simplicity, they spend the whole day to catch that fish.After that, one of them came up with an idea ,that would boost the productivity of the entire [...]

    17. Peter and Andrew Schiff wrote this book based on the book by the father Irwin It combines simple explanations and cartoon like illustrations on almost every page to lay out clearly the effects of government intervention in the market It begins with three men on a Pacific style island who work all day to catch one fish with their bare hands just enough to survive One of them, Abel, finally gets tired of sustenance living and his desire for leads him to invent a net Abel has to go without eating [...]

    18. Although the book only briefly illustrates the philosophy of Austrian Economics, How an Economy Grows and Why It Crashes is a wonderfully concise and entertaining story for those who are unfamiliar with Austrian Economics.The story begins with explaining the nascent of an economy through Crusoe Economics Economic growth is expanding the use of land and labor through production and savings by restraining present consumption for future consumption in support of efficient uses by investing in capi [...]

    19. The book discourses the subject of Economics in a highly comical way The story , so to say, correlates with real life examples of the growth and fall of the US economy I was disinterested disinclined in Economics during my school days probably because my teachers made the arcane and boring subject it even torturous The authors on the other hand transformed it into a highly entertaining and enlightening topic.The mantra Productivity, not spending, is the key for economic growth stands out for me [...]

    20. First, let me get the obvious out of the way yes, this book isn t perfect It can be very simplistic at times and the writer does have a clear political agenda against the US government s financial policy.Now that I ve said that, this book is a must read for everyone I say everyone because we all deserve to understand how an economy works The authors lay out the principles of economics and call bullshit on the idea that micro economics is essentially different from macro economics They do it by t [...]

    21. This funny from the first impression book describes not so funny thesis The US economy is not so stable as many people think Years of spending than they earn, living on a credit, not boosting economy and mainly production but only services And increasing budget deficit and selling their debts to China and Japan can finish very badly This situation can t last for ever And panacea for trouble can t be further making debt The funny fact is that Alan Greenspan frequently mentioned in the book has w [...]

    22. Pretty radical stuff this Peter Schiff appeals for a lot of drastic ideas that can come off as a bit profound I ve felt this way so due to the fact that this is my first time encountering the Austrian school of economic thought compared to the usual Keynesian theories I ve been taught all my life The writing is pretty simple and easy and can be finished in under an hour The last few chapters are a bit complicated and could have used a lot details Anyhow, its a pretty good book on getting to kn [...]

    23. Quite a fun little book Really enjoyed it.It is told in a fictional way based on the lives of some island people.Is it over simplified Probably Who cares.It explains what is needed in an easy to understand and fun way.Combine this book with The Dictator s Handbook Why Bad Behavior is Almost Always Good Politics and you ve got yourself a lot of reason to be mad at government and politicians.Probably not meant for everyone, but a sweet and short filler.

    24. I really enjoyed this book It s a novel way of explaining basic economics Although the author has pretty strong views against government intervention in the economy While I don t necessarily disagree with these views I feel like this permeated a bit too much through the book I definitely enjoyed the multiple parodies of real people using fish references George W Bass and Barack Ocuda are two of the leaders of Usonia haha Although it s a massive simplification you can still get the gist of what c [...]

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