How an Economy Grows and Why It Crashes

How an Economy Grows and Why It Crashes

by Peter D. Schiff, Andrew J. Schiff

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Overview

Understanding how all the pieces of an economy fit together can be a daunting task—especially when the experts can't seem to do it. But when you get down to the basics, it is much easier than you may think. How an Economy Grows and Why It Crashes uses illustrations, humor, and accessible storytelling to take economics off its lofty shelf and put it back on the kitchen table where it belongs.

This straightforward story of fish, nets, saving, and lending exposes the gaping holes that lie hidden in our global economic conversation. With wit and humor, the Schiffs explain the roots of economic growth, the importance of trade, savings, and risk, the source of inflation, the effects of interest rates and government stimulus, the destructive nature of consumer credit, and many other economic principles that are so frequently discussed and so poorly understood.

The story may appear simple on the surface but it will leave you with a powerful understanding of How an Economy Grows and Why It Crashes.

Product Details

ISBN-13: 9780470526705
Publisher: Wiley
Publication date: 05/03/2010
Pages: 256
Sales rank: 156,119
Product dimensions: 6.00(w) x 9.10(h) x 0.90(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 viii

Author's Note ix

Introduction xi

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 37

Chapter 5 Prosperity Loves Company 47

Chapter 6 Put it in the Vault 63

Chapter 7 Infrastructure and Trade 77

Chapter 8 A Republic is Born 91

Chapter 9 Government Gets Creative 101

Chapter 10 Shrinking Fish 119

Chapter 11 A Lifeline From Afar 129

Chapter 12 The Service Sector Steps Up 141

Chapter 13 Closing the Fish Window 153

Chapter 14 The Hut Glut 161

Chapter 15 The Hut Rut 177

Chapter 16 Stepping on the Gas 193

Chapter 17 The Fish Hit the Fan 209

Epilogue 223

Acknowledgments 229

About the Authors 231

About the Illustrator 233

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