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

Most Helpful
5 out of 5 stars
By Marek on 26-07-18

Excellent book

I agreed this a great deal. Complex economics brought back to common sense basics with an entertaining story to illustrate.

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5 out of 5 stars
By Dennis on 09-02-16

Go and buy emergency groceries

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

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Customer Reviews

Most Helpful
3 out of 5 stars
By Christian on 15-11-10

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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15 of 15 people found this review helpful

5 out of 5 stars
By AC on 26-12-10

Educational and Entertaining

Listening to this audio book was fun. I couldn't stop myself but listening till the end before I turned on a radio in my car again. Peter and Andrew made a wonderful job reading out loud. Usually, I don't absorb information well when I hear it but rather when I read it. However, the way the book was read, it was very easy to follow and commit to a memory many important points that authors had to say on a topic of the economy. Being just an engineer and not an economist I do feel now that I know more about the economy than most of the people out there.
Peter and Andrew, thank you so much for taking time and reading the book out loud yourselves.

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23 of 24 people found this review helpful

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