"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.
Author′s Note IX
Chapter 1 An Idea Is Born 1
Chapter 2 Sharing The Wealth 13
Chapter 3 The Many Uses Of Credit 27
Chapter 4 Economic Expansion 37
Chapter 5 Prosperity Loves Company 47
Chapter 6 Put It In The Vault 63
Chapter 7 Infrastructure And Trade 77
Chapter 8 A Republic Is Born 91
Chapter 9 Government Gets Creative 101
Chapter 10 Shrinking Fish 119
Chapter 11 A Lifeline From Afar 129
Chapter 12 The Service Sector Steps Up 141
Chapter 13 Closing The Fish Window 153
Chapter 14 The Hut Glut 161
Chapter 15 The Hut Rut 177
Chapter 16 Stepping On The Gas 193
Chapter 17 The Fish Hit The Fan 209
About The Authors 231
About The Illustrator 233
Peter D. Schiff is CEO and Chief Global Strategist of Euro Pacific Capital, an SEC–Registered Investment Advisor and a full–service broker/dealer, and Chairman of Euro Pacific Precious Metals. He is a widely followed opponent of debt–fueled growth policies and known for his advocacy of emerging market and commodity–focused investments in countries with positive economic and fiscal characteristics. Mr. Schiff has been quoted hundreds of times in leading news outlets around the world, including the Wall Street Journal, Barron′s, Die Zeit, Tokyo Shimbun, South China Morning Post, Investor′s Business Daily, the Financial Times, the New York Times, the Los Angeles Times, and the Washington Post. He appears regularly on CNBC, CNN, BBC, Al Jazeera, Fox News, and Fox Business.
Andrew J. Schiff, a veteran media and marketing consultant in the financial services industry, leads the communications and media effort at Euro Pacific Capital. Andrew has worked closely with his brother Peter for nearly a decade, first as an outside consultant and then as a key member of the Euro Pacific team. He has helped develop, refine, and target Euro Pacific strategic communications for media and clients.