From the Inside Flap
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 fun How 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.
From the Back Cover
"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 .