How an Economy Grows and Why It Crashes
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In the beginning, there are only three men. Each man catches and eats one fish per day. Then, one man decides to forgo his meal for the day to build a net, which proves successful and su ...more
This book is pure, unadulterated genius.
It explains where we’ve come from and where we’re headed. It explains how Keynesian ideas have prospered over Austrian economics, even though they are utterly, hopelessly wrong and are ruining our country. I cannot recommend this highly enough to anyone who cares about America. I read it in two days, easily, and so can you. Who doesn’t have two days to change their life?
We are told that we must go deeper into debt to fix out debt crisis, and that we ...more
Economic theories need to be de-jargonized every now and then to understand the stupidity of some of the things that policymakers do or are recommended to do. Extremely few people, with many experts excluded, tend to understand the basic meaning of some their pet economic solutions or policies. Complex theories effectively lead to equivocation, obfuscation of ...more
As a basic primer on the evolution of economies, this book is a light and fluffy start for the layman. Where it is flawed, however, is that it's written with a conclusion already in mind and the analogy on which it builds is therefore twisted to suit that view. The trouble is that the gold standard, which this book extols, is not the same as an economy based on fish - fish being a resource which can be replenished and grown. A real economy, based on gold, can only be stifled by t ...more
Schiff is a very good writer and opinion-maker and he follows reasonings that are simple and therefore may sometimes be simplistic. It still is a good book if you are looking to learn about a different economic point of view than the Keynesian crap they feed y ...more
The book walks you through the basics of "island economics," in which FUNDAMENTAL ECONOMIC PRINCIPLES in a hypothetical three-man (initially) economy are explained.
It is basically an allegory of the US economic history riddled with lots of illustrations that add visual dimension to the humor in which the authors present the story. No, a touch of humor does not at all downplay the seriousness of the subject matter, nor does it detract anything fr ...more
اگر علاقه مند به اقتصاد هستید و دنبال پیش زمینه ای در این موضوع هستید این کتاب رو از دست ندهید
داستان یک جزیره خیالی که با سه نفر شروع به رشد میکند ، رونق میگیرد ، وارد رکود میشود و سپس به بحران کشیده میشود
نکته زیبایی که در این کتاب وجود داشت این بود که نویسندگان با ظرافت تمام ، به مشکلات اقتصادی کشور خود پرداخته بودند و از طنز و تصویر توامان بهره برده بودند
ایکاش ازین دست کتابها درباره ی مسائل مختلف کشور ما ، نوشته شود
This richly illustrated allegory traces the economic history of the United States through to its inevitable conclusion. The story takes place on a tropical island where hunter-gatherers struggle daily to catch fish by hand for their basic survival. One person takes the personal risk of forgoing his daily fish to make a net, and the resulting increase in productivity is the start of an island economy which develops and becomes increasingly dynamic and complex.
The key thought, emphasised repeatedl...more
Now that I’ve said that, this book is a must read for everyone. I say everyone because we all deserve to understand how an economy works. The authors lay out the principles of economics and call bullshit on the idea that micro economics is essentially different from macro economics. They do i ...more
I am really really disappointed in this book. Peter tells a tale of a city that is based on the currency of fish while adding in simple economic ...more
I think people expected too much out of this and thus maybe THEY should be writing? ;)
Read this bo ...more
Talk about economics for even a few minutes, and watch your listeners’ eyes glaze over. But tell them a story that grabs their attention and makes them smile – then you can teach them anything. That’s the tactic controversial Libertarian Irwin Schiff used to teach his sons – brokers Peter D. Schiff and Andrew J. Schiff – the basics of economics. The Schiff brothers have cleverly updated their dad’s “fish story,” first published in 1979, to s ...more
I just finished reading this witty, entertaining, and informative work, authored by one of the most talented and astute investment advisors in the country. The story, told as an allegory, traces the rise of a free-market economy and its eventual destruction by Keynesian and other socialistic fallacies.
The g ...more
Why does parts of the economy and parts of the world thrive?
Why do parts of the economy and the world struggle so greatly.
Schiff tells it in such a down to earth fashion that anyone wanting to learn more about economics, what happened in the crash of 2008-2009 and wha ...more
It begins with three men on an island who are able to catch one fish per day with their bare hands, and goes on to describe how through savings, risk and increasing productive capacity through specialization and tech ...more
Starts off with three men stranded on an island. All they do is fish by hand, at first, and things grow from there. So simple, but a good way to learn about the big picture!
"The best thing about private capitalism is that it forces those who may only be motivated ...more
The story begins with explaining the nascent of an economy through Crusoe Economics. Economic growth is expanding the use of land and labor through production and savings by restraining present consumption for future consumption in support of more efficient uses by investing in ...more
Personally, I felt like I would have preferred a more general viewpoint, instead of going through US history exactly, complete with actual historical figures. Also, I felt like the fish metaphor started running into problems once the government had to debase the currency to keep funding things. It started turning a little too much into a running jo ...more
Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City. ...more