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How an Economy Grows and Why it Crashes Hardcover – 21 Feb 2014

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Product details

  • Hardcover: 288 pages
  • Publisher: John Wiley & Sons; Collector's Edition edition (21 Feb. 2014)
  • Language: English
  • ISBN-10: 1118770277
  • ISBN-13: 978-1118770276
  • Product Dimensions: 23.6 x 2.1 x 23.9 cm
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 567,230 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Product Description

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 wit—and a super-sized helping of common sense on the side—the 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 imagined—not 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, " 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 .

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Most Helpful Customer Reviews

By pawelgonzalez on 6 July 2014
Format: Hardcover Verified Purchase
There was so many names that after a while I got lost who was who. However a big chunk of the book illustrates clearly what makes economy grow and what makes it crash.
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Most Helpful Customer Reviews on (beta) 44 reviews
10 of 12 people found the following review helpful
My favorite book, of all time, for sure. 31 Dec. 2013
By Peter Neufeld - Published on
Format: Hardcover Verified Purchase
I have recommended this book to people with whom I've debated economics with in the past, and they have all thoroughly enjoyed it and now more fully understand the arguments that I've been making. The strength of the book really lies in the beginning and how it starts from the simplest situation and layers the concepts on one by one. As a story by itself it is entertaining, quite humorous at times, and there is a poignancy to it all that borders on poetic (or ironic, depending on your mood). As a learning tool, however, it is invaluable. The pace is set well, and the illustrations help to lighten what is normally very dense and potentially complicated material. For those who haven't delved too deeply into economics, this book should be a delight and an eye opener. For those already acquainted with Austrian economics and worry that it simply preaches to the choir: read it you will not be sorry; it reads like an inside joke and will amuse you the whole way through.
8 of 9 people found the following review helpful
Great book for kids 18 Dec. 2013
By Amazon Customer - Published on
Format: Hardcover Verified Purchase
Easy to understand, it has pictures and its very entertaining. I am glad I bought this version of the book even though I already have the other one, this is something that can engage my kids and help teach them the principles they should be learning in school.

Thanks Peter and keep it coming!

9 of 11 people found the following review helpful
Everyone Should Read This Fun Book! 19 Dec. 2013
By Michael Cordon - Published on
Format: Hardcover Verified Purchase
I was anxiously awaiting my copy of the collector's edition of How an Economy Grows and Why it Crashes ... and it didn't disappoint. The book is AWESOME!

Economics is not a difficult subject, when it is explained in plain, simple terms. In fact, economics can be logical and even beautiful - provided that it is not being twisted and manipulated by Keynesians.

The Schiff brothers, Peter & Andy, received an invaluable educational foundation from their father, the principled and prescient Irwin Schiff. Thank you Irwin for all that you have done for the cause of liberty and freedom, including teaching your boys to carry on, and even improve upon, the important truths that you discovered long ago in the Austrian school of economics.

One final comment, I cannot recommend more highly Peter Schiff's radio podcast. I'm a busy litigator, but it's the one thing I try to listen to daily because it's freaking fantastic!
7 of 9 people found the following review helpful
Manages to present serious topics of economic growth and monetary systems in a funny format 20 Dec. 2013
By Denis Vukosav - Published on
Format: Hardcover
“How an Economy Grows and Why It Crashes” by Peter D. and Andrew J. Schiff manages to present serious topics of economic growth and monetary systems in a funny comic format.

This comic book is in some way a continuation of the book that has same title and it was released several months ago.
Peter D. Schiff who is former Senate candidate together with his brother Andrew, an economic expert, in their previous work communicated different economical ideas and analysis, and with this one they wanted to further expand their audiences by providing same topics in a bit more casual tone, with lots of funny drawings.

The book is made in easy to understand way together with nice and entertaining comic pictures because one picture says more than 1000 words.
For this reason the book can be used also by younger readers that will, using these different presentation techniques, more easily understand some concepts and principles that otherwise sometimes sound abstract and difficult to read.

Among other principles and economic definitions, the authors discussed trading, poverty, inflation, loans, recession and many other words that you often hear about, and now you'll be able to better understand what they mean with the examples authors provided.

Overall, “How an Economy Grows and Why It Crashes” is interesting book delivered using humorous approach that enables reader to find inside many useful and good information packaged in funny and nicely designed edition, although some things were a bit oversimplified in order to be understandable to a wider audience, not just economists.
So if you don’t expect Samuelson, you’ll be more than satisfied with this release.
8 of 11 people found the following review helpful
easy to understand economics at the most fundamental level 13 Dec. 2013
By Shanan Levin - Published on
Format: Kindle Edition Verified Purchase
This book is a wonderful explanation of basic economics at the least common denominator. It's what should be taught in economics in high school.
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