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How an Economy Grows and Why It Crashes

ISBN: 978-0-470-52670-5
256 pages
May 2010
How an Economy Grows and Why It Crashes (047052670X) cover image
How an Economy Grows and Why it Crashes uses illustration, humor, and accessible storytelling to explain complex topics of economic growth and monetary systems. In it, economic expert and bestselling author of Crash Proof, Peter Schiff teams up with his brother Andrew to apply their signature "take no prisoners" logic to expose the glaring fallacies that have become so ingrained in our country s economic conversation.

Inspired by How an Economy Grows and Why It Doesn t a previously published book by the Schiffs father Irwin, a widely published economist and activist How an Economy Grows and Why It Crashes incorporates the spirit of the original while tackling the latest economic issues.With wit and humor, the Schiffs explain the roots of economic growth, the uses of capital, the destructive nature of consumer credit, the source of inflation, the importance of trade, savings, and risk, and many other topical principles of economics.

The tales told here may appear simple of the surface, but they will leave you with a powerful understanding of How an Economy Grows and Why it Crashes.

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Introduction.

In the Beginning…

Chapter 1: An Idea is Born.

Chapter 2: Sharing the Wealth.

Chapter 3: The Many Uses of Credit.

Chapter 4: Economic Expansion.

A Few Generations Later.

Chapter 5: Prosperity loves Company.

Chapter 6: Put it in the Vault.

Chapter 7: Infrastructure and Trade.

Chapter 8: A Republic is Born.

A Few Generations Later.

Chapter 9: Government Gets Creative.

Chapter 10: Shrinking Fish.

Chapter 11: A Lifeline from Afar.

Chapter 12: The Service Sector Steps Up.

Chapter 13: Closing the Fish Window

Chapter 14: The Hut Glut.

Chapter 15: The Hut Rut

Chapter 16: Stepping on the Gas

A Few Generations Later.

Chapter 17: The Fish Hit the Fan.

Epilogue.

Acknowledgments.

About the Authors.

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Peter D. Schiff is the bestselling author of Crash Proof 2.0: How to Profit from the Economic Collapse and The Little Book of Bull Moves in Bear Markets. This is his first collaboration with his brother Andrew J. Schiff, a recognized expert in economic and financial communications.
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October 14, 2010
How an Economy Grows and Why It Crashes

Understanding how all the pieces of an economy fit together can be a daunting task—especially when the experts can't seem to do it. But when you get down to the basics, it is much easier than you may think. 

In their new book How an Economy Grows and Why It Crashes (Wiley, $19.95, 978-0-470-52670-5, May 2010) brothers Peter and Andrew Schiff use illustrations, humor, and accessible storytelling to take economics off its lofty shelf and put it back on the kitchen table where it belongs.  For those who would normally prefer watching paint dry than delving into economic concepts, the book could not have come at a more opportune time.  

To illustrate (literally) their reasoning why the direction of our current economic policy is hopelessly misguided, the Schiffs have conjured a straightforward story of fish, nets, savings, lending, trade, job creation and inflation. 

The tale is set on a tropical island where three stone-age inhabitants scratch out a meager existence by catching fish with their bare hands. But when one enterprising islander discovers how to make a net, the entire island economy begins growing and diversifying. The economy expands until an activist government, worthless “Fish Reserve Notes” and runaway consumer spending eat away at the island’s economic foundation. When a runaway “hut glut” of island dwellings finally gives way, things fall apart very quickly.  

With wit and humor, the book discusses the roots of economic growth, the uses of capital, the destructive nature of consumer credit, the proper duties of banks, the role of interest rates in regulating economic activity, the advantages of free trade, the causes of inflation, the origins of the asset bubbles, and many other topical principles of economic theory. Along the way, they lampoon those politicians and economists who they believe are the source of our current difficulties.

The 220 page book, which includes more than 150 original illustrations by artist Brendan Leach, is partially based on a work previously published in 1985 by the Schiff's father, Irwin A. Schiff, an economist and anti-tax crusader. The younger Schiffs have expanded and updated the central allegory for a new generation.

The book may appear simple on the surface but it will leave readers with a powerful understanding of How an Economy Grows and Why it Crashes.

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How an Economy Grows and Why It Crashes (US $19.95)

-and- Crash Proof 2.0: How to Profit From the Economic Collapse, 2nd Edition (US $16.95)

Total List Price: US $36.90
Discounted Price: US $27.67 (Save: US $9.23)

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