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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.
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.
14 of 14 people found this review helpful
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.
22 of 23 people found this review helpful