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    How an Economy Grows and Why It Crashes
    How an Economy Grows and Why It Crashes
    How an Economy Grows and Why It Crashes
    Audiobook3 hours

    How an Economy Grows and Why It Crashes

    Written by Andrew J. Schiff and Peter D. Schiff

    Narrated by Andrew J. Schiff and Peter D. Schiff

    4.5/5

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    About this audiobook

    In How an Economy Grows and Why it Crashes, economic expert and bestselling author of Crash Proof and The Little Book of Bull Moves in Bear Markets, Peter Schiff, presents economics in two informative, yet thoroughly entertaining tales. The illustrations were previously published by Peter Schiff's father, Irwin A. Schiff, a trader and financial expert. The book takes complex economic issues and distills them into a rousing allegory. For example, a story takes place on a tropical island where hunter-gatherer cavemen struggle daily to catch fish for basic survival. As the economy of the island becomes increasingly dynamic, institutions and government entities develop to protect the islanders' savings and assets, and Schiff explains the complexities that accompany this growth. With wit and humor, Schiff explains the roots of economic growth, the uses of capital, the destructive nature of consumer credit, and many other topical principles of economic theory. The tales leave you with a powerful understanding of inflation and the abuses of the monetary system. How an Economy Grows is an insightful illustrated book that both entertains and teaches readers about the economic system.
    LanguageEnglish
    PublisherAscent Audio
    Release dateJul 20, 2020
    ISBN9781469083674

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    Reviews for How an Economy Grows and Why It Crashes

    4.5/5

    75 ratings8 reviews

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    • 5/5
      I loved it! Economics explained in an easy and funny way!!
    • 5/5
      The story draws the reader in and simplifies economic concepts into relatable terms.
    • 5/5
      This is all about the austrian school. They point the results of a keynesian politics in the american economy, arguing how bad this is for the economy.
    • 5/5
      You won't believe how much I love analogies, and you guys just nailed it thank you. ??
    • 3/5
      A good basic explanation of economics, but incredibly biased towards supply-side theory.
    • 5/5
      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 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.
    • 4/5
      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.
    • 5/5
      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 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.