How an Economy Grows and Why It Crashes

by Peter D. Schiff; Andrew J. Schiff

• ISBN13: 9780470768006
• ISBN10: 0470768002
• Format: eBook
• Copyright: 2010-04-01
• Publisher: Wiley

Summary

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.

Table of Contents

Introduction

In the Beginning...

An Idea is Born

Sharing the Wealth

The Many Uses of Credit

Economic Expansion

A Few Generations Later

Prosperity loves Company

Put it in the Vault

Infrastructure and Trade

A Republic is Born

A Few Generations Later

Government Gets Creative

Shrinking Fish

A Lifeline from Afar

The Service Sector Steps Up

Closing the Fish Window

The Hut Glut

The Hut Rut

Stepping on the Gas

A Few Generations Later

The Fish Hit the Fan

Epilogue

Acknowledgments

About the Authors

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