Synopses & Reviews
If you don't have your facts straight, explaining how an economy works can be like trying to catch brook trout with your bare hands. Watching the parade of self-appointed "experts" twist logic into pretzels in order to make useless economic forecasts is enough to make the average person change the channel. Could it be that the talking heads don't have a clue? Is it possible that the "dismal science," as economics has become known, is neither as complicated nor as dismal as you've been led to believe?
According to the authors of this thoroughly entertaining introduction to economics, the answer is a resounding "Yes!" It's all a matter of where you start and how you tell the tale.
In this expanded and colorized Collector's Edition of their award-winning book How an Economy Grows and Why It Crashes, Peter Schiff, economic expert and bestselling author of Crash Proof, The Little Book of Bull Moves, and The Real Crash, once again teams up with brother Andrew Schiff to shed light on economic mysteries with an informative and extremely amusing allegory. The Schiffs' story takes place on a tropical island where hunter-gatherer cavemen struggle daily to catch fish for their basic survival. As the island economy develops and becomes increasingly dynamic, layer upon layer of institutions and government entities spring up to protect the islanders' savings and assets, leading to ever-increasing levels of complexity. But, at the core, the economic engines remain the same.
Served up with lavish portions of witand a super-sized helping of common sense on the sidethe Schiffs deftly explain many widely misunderstood aspects of economics, including the root causes of growth, the uses of capital, the destructive nature of consumer credit, the causes of inflation and deflation, and many others.
The book is an expansion and update of the celebrated cartoon book written in the early 1980s by the Schiffs' father Irwin, a renowned economist and forecaster in his own right. For this Collector's Edition, all of the book's existing illustrations (by graphic artist Brendan Leach) have been vibrantly colorized, and two new chapters (with new illustrations) have been added that wryly comment on recent economic developments. This edition also features a new introduction, in which the authors reflect on the dangers presented by the ever increasing reliance on expansive monetary policy.
A book that proves that economics can be much easier to wrap your head around than you ever imaginednot to mention rousing good funHow an Economy Grows and Why It Crashes, Collector's Edition gives you the straight answers you've always craved and spares you the mind-numbing doublespeak that experts have used to cover up their own cluelessness.
Synopsis
In How an Economy Grows and Why it Crashes, economic expert and bestselling author of Crash Proof and The Little Book of Bull Moves in Bear Markets, Peter Schiff, presents economics in two informative, yet thoroughly entertaining tales. The illustrations, now colorized in this collector's edition, were previously published by Peter Schiff's father, Irwin A. Schiff, a trader and financial expert. The book, with a new introduction by the author, takes complex economic issues and distills them into a rousing allegory. For example, a story takes place on a tropical island where hunter-gatherer cavemen struggle daily to catch fish for basic survival. As the economy of the island becomes increasingly dynamic, institutions and government entities develop to protect the islanders' savings and assets, and Schiff explains the complexities that accompany this growth. With wit and humor, Schiff explains the roots of economic growth, the uses of capital, the destructive nature of consumer credit, and many other topical principles of economic theory. The tales leave you with a powerful understanding of inflation and the abuses of the monetary system. How an Economy Grows is an insightful illustrated book that both entertains and teaches readers about the economic system.
Synopsis
Straight answers to every question you've ever had about how the economy works and how it affects your lifeIn 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 Little Book of Bull Moves in Bear Markets, once again teams up with brother Andrew Schiff, a top international media and marketing expert, to tell the story of economics in two interconnected, highly informative, extremely amusing allegories.
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 for the rest of us. Along the way, they apply their signature take-no-prisoners logic to expose the glaring fallacies and gaping holes permeating the global economic conversation.
- Provides straight answers about how the economy works, without the highfalutin jargon and mind-numbing doublespeak the experts use to cover up their utter bafflement
- A new introduction sets the stage for developing a deeper, more practical understanding of inflation and the abuses of the monetary system
- The book's celebrated cartoon illustrations, originally rendered by the Schiffs' father, a renowned trader and financial expert in his own right, have been colorized, adding new vigor to the presentation
While this 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.
Synopsis
"If you feel you want to get a decent grasp of free-market economics . . . this book is the perfect place to start."
Daniel Hannan, Telegraph.co.uk
"How an Economy Grows and Why It Crashes makes economics fun and accessible. Bestselling author and 2010 U.S. Senate candidate Peter D. Schiff and his brother Andrew J. Schiff, communications director of Euro Pacific Capital, convey the often intuitive ideas of economics through an engaging, fictitious story richly illustrated with amusing cartoons."
The Washington Times
At last, straight answers to some of economics' more vexing questions. With the help of colorful cartoon illustrations, lively humor, and deceptively simple storytelling, brothers Peter and Andrew Schiff bring the complexity of economics down to earth for all to understand. Along the way, the brothers apply their signature take-no-prisoners logic to expose the glaring fallacies and gaping holes that permeate the global economic conversation. The book is designed so that all people, even teenagers, can gain a better grasp of what turns the economic wheels of progress and what makes them stop turning.
Overflowing with wit and common sense, this new Collector's Edition of How an Economy Grows and Why It Crashes explains:
- The roots of economic growth
- Why some countries are rich and others are poor
- The importance of trade and risk taking
- The sources of inflation
- The effects of interest rates and government stimulus
- The destructive nature of consumer credit
- Why saving is better than spending as a cure for a bad economy
- And other frequently discussed, yet poorly understood, economic principles
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.
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.
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