How an Economy Grows and Why It Crashes

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 show more 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. show less

Lovely book... great way of explaining about economy with a simple concept of using fish. I felt, the introduction of economy crash wasn't handled well but again that's my opinion. Worth a read even for those without any prior knowledge of anything about economy.

The book discourses the subject of Economics in a highly comical way. The 'story', so to say, correlates with real life examples of the growth and fall of the US economy. I was disinterested / disinclined in Economics during my school days probably because my teachers made the arcane and boring subject it even more torturous. The authors on the other hand transformed it into a highly entertaining and enlightening topic.

The mantra "Productivity, not spending, is the key for economic growth" stands out for me in the entire book. "If you want its stuff, you need its currency." - how ingeniously well-stated.

The author encourages global free-trade and suggests that although some businesses might close due to inefficient practices in show more producing some goods, the countries involved will nevertheless grow in the long run.

The latter part of the book concentrates on the interaction between US and China and shows how China is playing a bigger role than what meets the eye.

I'd like the authors to extend this book to show how '$' affects the economies of the rest of the countries. show less

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.

A good basic explanation of economics, but incredibly biased towards supply-side theory.

Muy interesante y completo