How an Economy Grows and Why It Crashes
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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 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 publis
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September 5th, 2010 at 11:42 am
Review by javajunki for How an Economy Grows and Why It Crashes
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Peter Schiff did not start out as one of my regular “reading list” authors…in fact, he originally irritated me quite a bit. However, after listening to several interviews on Financial Sense as well as numerous traditional media channels/outlets, reading several of his books…and watching with my own eyes/ears his rather pessimistic prognostications come about…I changed my tune. As a college instructor and business writer, it’s not easy to do a turn-about…on the other hand, watching what is taking place across this nation (and indeed the world) isn’t “easy” either.
However, after he announced his decision to pursue politics I expected this new book to be an extended “positioning statement”. Whether you like or dislike Schiff, here is why you should read this book…and buy an extra to share with someone you care about.
1. It’s funny. Okay, perhaps “funny” isn’t a major reason to purchase this book but there is a decidedly quirky humor underlying the writing that makes this very accessible to people that wouldn’t normally enjoy reading a book about economics. Schiff does a great job keeping this accessible to every type of audience without insulting the intelligence of the reader…in fact, he takes great pains to “de-mystify” the veil of complexity that surrounds issues that should be taught to every informed citizen.
2. Irwin Schiff. The father of Peter Schiff…I’ve read a couple of his books out of pure curiosity. While I do not personally agree with the position taken by the senior Schiff, I was utterly shocked to learn that at age 82 he remains incarcerated. Considering the recent fiasco of financial misconduct, it speaks volumes as to the priorities of the government. This book builds upon a story…and philosophy…initiated many years ago. Agree or disagree, it takes a man of courage and strong conviction to live his beliefs. I suspect men such as this are quickly becoming an endangered species in their own right.
3. Food for thought – while fishing. This is a wonderful way to introduce kids to the basic tenants of economics, personal responsibility (gasp – for the few of you out there that still believe in such a thing) and other foundational ideas. It’s one of those books that will grow with their own understanding. Adults will absolutely appreciate this allegorical tale. Those that are searching for ways to understand a tough topic will enjoy the easy to read comparisons. Those that already adhere to Schiff’s point of view/philosophy will REALLY enjoy the humor. Critics will not only enjoy the ability to take pop shots and blow things out of proportion but are likely to find plenty of ammunition for future debate. No matter how you cut it…everyone wins!
In this world there have always been a select few “Cassandra’s” who were destined to remain a lone voice crying in the wilderness while others remained unable or unwilling to listen. However, they play an important role in history by serving as a witness that there were choices…choices that were not taken but choices just the same. They serve as evidence that some people were aware of the problem and there were other options. Whether you agree or disagree…an earnest debate is always preferred to an ignorant mind.
September 5th, 2010 at 11:45 am
Review by TonyD for How an Economy Grows and Why It Crashes
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Other than Thomas Woods, I can think of no one else that can explain the often intimidating field of economics as clearly and simply as Peter Schiff can. Even if you are a complete idiot when it comes to understanding economics, this book will make you understand that economics is actually a very simple concept to grasp. If you are literate, you should have a great understanding of the Austrian school upon finishing this book. Complete with humorous anecdotes and illustrations, Peter and Andrew Schiff retell their father’s masterpiece (How an Economy Grows, and Why It Doesn’t) in a new, modernized version. Whether you are new to, or are well versed in the Austrian School of Economics, I recommend that you read this book and pass it on to a friend when you are finished!
September 5th, 2010 at 12:29 pm
Review by Christian E. Furin for How an Economy Grows and Why It Crashes
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This cute book explains economics in a simple way that is easy to understand. It uses humor and ‘old school’ story telling to break down how economies grow AND crash.
It also shows us how government intervention can also distort the economy.
I found it a unique way to teach children AND adults that the ‘laws of physics’ apply to everyone- including countries! It you spend more than you save, eventually you will pay a price. It is that simple. Our country is starting to see that. Many in our government keep promising us everything we want (free health care, low interest rates, practically endless unemployment benefits, tax credits and more) all WITHOUT raising taxes or actually growing the economy. At what point do we (or China) realize this cannot continue?????
September 5th, 2010 at 1:02 pm
Review by Morris Benun for How an Economy Grows and Why It Crashes
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This is the best Economics book I have ever read- and I have read many. Opening the book I was immediately put off by the “comic book” format, thinking the material would be too simplistic. I was wrong. I have a much better grasp of economics, and the Austrian (“hard money”) and Keynesian (“free lunch”) schools of thought. At first I was amazed at the authors ability to transform an arcane,boring and complex subject into a highly entertaining, informative and very easy to understand book.
After a while I realized however, the true insight of the book is that economics is not complex at all. It is the economists explanations that are complex. It takes some serious mental gymnastics to convince people that governments can spend more money than they take in, that an economy does not need a strong manufacturing base, budget and trade deficits don’t matter and consuming ever more quantities of stuff (without the means to pay for it) is the path to prosperity.
Read this book and you’ll have a better grasp of where we are today and where we are headed than the majority of “experts” out there.
September 5th, 2010 at 1:32 pm
Review by Ryan D. Hinton for How an Economy Grows and Why It Crashes
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I’ve been a fan of Peter for a few years now, I follow his blogs, commentaries, and news appearances. I must say, this book lays it all out for you. Even if you have a good understanding of economics, this books simplifies to a point even a kid can understand it. Too bad our congressmen dont. Everyone should read this book, I finished it in a few hours its so easy to read. He covers the growth of economy from it’s primitive stages to becoming a global economic power and how government distorts and actually causes depressions, recessions, and economic crashes. I also how it;s all related to current and historical events. I will buy a few more copies of this book and give them to some of my friends who are clueless as to what’s really happening with our economy and government. They get so caught up in the Republican vs Democrat farce that they are blinded to see what is really going on. I dont care where you are on the political spectrum, you should give this book a shot.