2 of 2 people found the following review helpful
Clear and understandable - not like economics at all,
Verified Purchase(What is this?)
This review is from: How an Economy Grows and Why It Crashes: Two Tales of the Economy (Hardcover)
If you've ever been baffled by economic theory then take heart. The reason is probably that the person explaining it didn't really understand what was going on either.
Yes, there is a lot of complexity in the details and many tomes on economics would have you wade through graphs, calculus and statistics until your ears bled and yet never give you a birds eye view of what an economy actually is.
Peter Schiff is a man who, in 2006 (and even before that), was forecasting with great accuracy, the recent/current financial crisis while loftier economists scoffed at his warnings.
This book offers a clear and understandable overview of what an economy is, what makes it grow and what can go wrong. It does this by relating the tale of a fictional island, whose main natural resource is fish, and follows the development of its economy from its inhabitants first attempts at wealth creation through to the islands rise to inter-island trade dominance and subsequent fall.
Despite being a 200+ page book about economics it is easily read within a day and, surprisingly for so easy a read, will leave you feeling much wiser. In fact you'll probably finish with the thought "surely economics can't be that easy?". It may take you a bit more time to realize that it is, and that the complexity offered up by some economists is merely a smokescreen for their own lack of understanding (after all, how many of them saw the recent troubles coming?).