How an Economy Grows and Why It Crashes - by Peter D Schiff & Andrew J Schiff (Hardcover)

Book Synopsis

An engaging introduction to the fundamental elements of an economy

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 published book by the Schiffs' father Irwin, a widely published economist and activist, How an Economy Grows and Why It Crashes incorporates the spirit of the original while tackling the latest economic issues. With wit and humor, the Schiffs explain the roots of economic growth, the uses of capital, the destructive nature of consumer credit, the source of inflation, the importance of trade, savings, risk, and many other topical principles of economics.

• An insightfully illustrated book that both entertains and educates readers about our economic system
• A guide to understanding the concepts of risk, creation of capital assets, return, consumption, saving, and borrowing
• A witty and humorous approach to learning key economic concepts for beginners and professionals alike

The tales told here may appear simple on the surface, but they will leave you with a powerful understanding of How an Economy Grows and Why it Crashes.

From the Back Cover

EVER WONDER . . .

• Why governments can spend without ever seeming to run out of money?
• Why some countries are rich while others are poor?
• Whether spending or saving is the best cure for a bad economy?
• Where inflation comes from?
• Why it's so hard to catch a fish with your bare hands?

HOW AN ECONOMY GROWS AND WHY IT CRASHES

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.

Review Quotes

Using illustration, humour and storytelling, the authors... take economics off its lofty shelf and place it back on the kitchen table." (TheStar.com, September 2010)

"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/Blog, July 2010

About the Author

PETER D. SCHIFF is the bestselling author of Crash Proof 2.0: How to Profit from the Economic Collapse and The Little Book of Bull Moves in Bear Markets. This is his first collaboration with his brother ANDREW J. SCHIFF, a recognized expert in economic and financial communications.