How an Economy Grows and Why it Crashes uses cartoon illustration, humor, and accessible storytelling to explain complex topics of economic growth and monetary systems. In it, the 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, 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 original publication in question here was a highly successful presentation of Rothbardian-style economic logic, a reduction of Man, Economy, and State with cartoons and stories to help make the point. It had a wide influence in the 1970s and 1980s. Irwin, in fact, put together a wonderful package that brought macroeconomics to the masses.
This revision, re-application, and re-issue is in the same tradition. It is entertaining without losing precision. It has great explanatory power without leaving out important detail. It helps too that the credibility here is obvious: Schiff stood nearly alone in warning about the housing bubble and the coming crash.
The tales told here may appear simple on the surface, but they will leave you with a powerful understanding of How an Economy Grows and Why it Crashes.
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.
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
Chapter 17: The Fish Hit the Fan.
About the Authors.
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Austrian Economics, Freedom and Peace