How an Economy Grows and Why It Crashes

How an Economy Grows and Why It Crashes

by Peter D. Schiff, Andrew J. Schiff

Hardcover(Collector's Edition)

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Straight answers to every question you've ever had about how the economy works and how it affects your life

In this Collector's Edition of their celebrated How an Economy Grows and Why It Crashes, Peter Schiff, economic expert and bestselling author of Crash Proof and The Real Crash, once again teams up with his brother Andrew to spin a lively economic fable that untangles many of the fallacies preventing people from really understanding what drives an economy. The 2010 original has been described as a “Flintstones” take economics that entertainingly explains the beauty of free markets. The new edition has been greatly expanded in both quantity and quality. A new introduction and two new illustrated chapters bring the story up to date, and most importantly, the book makes the jump from black and white to full and vivid color.

With the help of colorful cartoon illustrations, lively humor, and deceptively simple storytelling, the Schiff's bring the complex subjects of inflation, monetary policy, recession, and other important topics in economics down to Earth. The story starts with three guys on an island who barely survive by fishing barehanded. Then one enterprising islander invents a net, catches more fish, and changes the island’s economy fundamentally. Using this story the Schiffs apply their signature take-no-prisoners logic to expose the glaring fallacies and gaping holes permeating the global economic conversation. The Collector’s Edition:

  • Provides straight answers about how economies work, without relying on nonsensical jargon and mind-numbing doublespeak the experts use to cover up their confusion
  • Includes a new introduction that sets the stage for developing a deeper, more practical understanding of inflation and the abuses of the monetary system
  • Adds two new chapters that dissect the Federal Reserve’s Quantitative easing policies and the European Debt Crisis.  
  • Colorizes the original book's hundreds of cartoon illustrations. The improved images, executed by artist Brendan Leach from the original book, add new vigor to the presentation
  • Has a larger format that has been designed to fit most coffee tables.  

While the story may appear simple on the surface, as told by the Schiff brothers, it will leave you with a deep understanding of How an Economy Grows and Why It Crashes.

Product Details

ISBN-13: 9781118770276
Publisher: Wiley
Publication date: 12/23/2013
Edition description: Collector's Edition
Pages: 304
Sales rank: 764,592
Product dimensions: 11.20(w) x 11.50(h) x 1.00(d)

About the Author

Peter D. Schiff is CEO and Chief Global Strategist of Euro Pacific Capital, an SEC-Registered Investment Advisor and a full-service broker/dealer, and Chairman of Euro Pacific Precious Metals. He is a widely followed opponent of debt-fueled growth policies and known for his advocacy of emerging market and commodity-focused investments in countries with positive economic and fiscal characteristics. Mr. Schiff has been quoted hundreds of times in leading news outlets around the world, including the Wall Street Journal, Barron's, Die Zeit, Tokyo Shimbun, South China Morning Post, Investor's Business Daily, the Financial Times, the New York Times, the Los Angeles Times, and the Washington Post. He appears regularly on CNBC, CNN, BBC, Al Jazeera, Fox News, and Fox Business.

Andrew J. Schiff, a veteran media and marketing consultant in the financial services industry, leads the communications and media effort at Euro Pacific Capital. Andrew has worked closely with his brother Peter for nearly a decade, first as an outside consultant and then as a key member of the Euro Pacific team. He has helped develop, refine, and target Euro Pacific strategic communications for media and clients.

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Table of Contents

Disclosure ix

Author’s Note xi

Introduction to the Collector’s Edition xiii

Introduction xvii

Chapter 1 An Idea Is Born 1

Chapter 2 Sharing the Wealth 13

Chapter 3 The Many Uses of Credit 27

Chapter 4 Economic Expansion 39

Chapter 5 Prosperity Loves Company 49

Chapter 6 Put It in the Vault 67

Chapter 7 Infrastructure and Trade 81

Chapter 8 A Republic Is Born 95

Chapter 9 Government Gets Creative 105

Chapter 10 Shrinking Fish 121

Chapter 11 A Lifeline from Afar 131

Chapter 12 The Service Sector Steps Up 143

Chapter 13 Closing the Fish Window 159

Chapter 14 The Hut Glut 167

Chapter 15 The Hut Rut 185

Chapter 16 Stepping on the Gas 203

Chapter 17 A Reprieve 215

Chapter 18 Occupy Wharf Street 227

Chapter 19 The Fish Hit the Fan 241

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How an Economy Grows and Why It Crashes 4.3 out of 5 based on 0 ratings. 44 reviews.
Svetoslav-Elenkov More than 1 year ago
Very easy to read. It's enjoyable, and informative. Even if you understand austrian economics, you'll still get a kick out of reading this. I also recommend it as a gift or educational tool. As an author I appreciate the ability to balance the content of the book so anyone could enjoy it.
WSMtrumpet More than 1 year ago
Wonderful book. It makes economics very easy to understand to somebody of any age. It's a very eye-opening book by an expert on the subject.
RolfDobelli More than 1 year ago
Talk about economics for even a few minutes, and watch your listeners' eyes glaze over. But tell them a story that grabs their attention and makes them smile - then you can teach them anything. That's the tactic controversial Libertarian Irwin Schiff used to teach his sons - brokers Peter D. Schiff and Andrew J. Schiff - the basics of economics. The Schiff brothers have cleverly updated their dad's "fish story," first published in 1979, to show how decades of political and economic blunders have led to financial crisis. With cute cartoons and witty, though deliberately imprecise, characterizations, their picture book presents a fable about the ways that politics and human frailty can lead people to violate the rules of supply and demand - thus creating fishy fiscal headaches. Inserted "reality checks" relate the story's ideas to current events to explain the tale's metaphors to readers at all levels of financial sophistication. While some may disagree with the authors' libertarian views, others may recognize underlying realities in their allegory. getAbstract recommends this fine fable to anyone seeking a simple presentation of a complicated subject. To learn more about this book, check out the following link:
Anonymous More than 1 year ago
This book put the basics of economics into an easy to read, entertaining, and surprisingly humorous story of an island and how it's economy grew from three people fishing with their hands, to how the US's economy is now. Peter Schiff takes what most people view as a very complicated subject, and boils it down to a very simple and easy to read story. I knew very little about economics and loved the book just as much as my boyfriend did, who spends his spare time reading up on everything about economics and knows a lot. This book is eye opening, and really helps you get a grasp on how our economy got to be how it is now.
Anonymous More than 1 year ago
I don’t want to do this. Do I have to this every time I read a book in my account.
buchowl on LibraryThing More than 1 year ago
Peter Schiff is at it again. Yet this time instead of explaining how to invest in an uncertain economy he does something much more basic; he explains what an economy is and how it functions. And not in the snoozefest manner of economic professors (who, as a group, seem to have the same attribute as my college econ profs of being able to make the subject more confusing rather than less). Instead he uses the manner of a favorite first grade teacher of telling a story with line drawing and everything. Bear with me here. From anyone else this method might be insulting to one's intelligence but Schiff manages to pull it off without making his audience feel stupid. This book is not only imminently readable but also full of information; an alternate title could be "Everything You Thought You Knew About the Economy But Were Afraid to Ask". As Schiff tells the story he also puts it in context by sprinkling "Realty Check" boxes throughout and ends each chapter with a "Takeaway" summary to bring the points home. There is also a great deal of poking fun at pundits and politicians with thinly veiled name changes (naw, Peter, tell us how you really feel about TV personality Barry Codroe).This a book that every voting American should read (as a democracy requires an informed electorate) and also should be required reading for every elected official (why do I have a sneaking suspicion that Congress should have read this before passing the hastily passed financial reform bill). I have a child taking economics next year in high school - this will be summer reading for her so she has a solid grasp of the subject. Highly, highly recommended but only if you want to understand the US economy (or any economy for that matter) AND have a sense of humor.
GShuk on LibraryThing More than 1 year ago
This audio does a great job of simplifying some complicated economic topics using a story format. Unfortunately, he interjects his view of free enterprise good government bad within the story, and makes it sound as if it is the only option. Wish I read this book in high school with a teacher pointing out where the author takes liberties.
Anonymous More than 1 year ago
Schiff has a firm grasp on the basics and few people are better-equipped than him to explain the basics to the masses. I just wish he was a little more flexible in his beliefs, especially about gold and silver. He sometimes sounds like a broken clock... but this doesn't change the fact that this book is very good. Because it is.
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