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How an Economy Grows and Why It Crashes

4.15  ·  Rating details ·  3,073 ratings  ·  321 reviews
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 ing ...more
Hardcover, 233 pages
Published May 3rd 2010 by Wiley (first published January 1st 2010)
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4.15  · 
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 ·  3,073 ratings  ·  321 reviews


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Yousef Chavehpour
Jan 07, 2015 rated it it was amazing
Shelves: economic
همین ابتدا بنویسم که کتاب یک داستان است که با سه نفر در یک جزیره و ماهیگیری آنها شروع میشود و تا چند نسل بعد از آنها جلو می رود. پر از تصاویر کارتونی است . فکر میکنم کسی ترجمه پارسی این کتاب را بخونه تا تمومش نکنه کتاب را زمین نمیزاره(با توجه به اینکه حجم کتاب هم زیاد نیست!) اگر چه من متن اصلی را خوندم و خیلی کم فرصت میشد سراغش برم اما ذهنم زیاد درگیر داستان کتاب بود همچنین به نیش و کنایه هایی که کتاب به شخصیتهایی که می شناختمشون(اسمشون هم مشابه اسمهای واقعی بود!) میزد . کتاب نقد شدیدی به کینزین ...more
Mehrdad
Aug 20, 2017 rated it really liked it  ·  review of another edition
انصافا داستانی جذاب برای روایت اقتصاد انتخاب شده بود
اگر قصد دارید اقتصاد رو به شیوه شیرینی یاد بگیرید از این کتاب غافل نشید
Jay Roberts, CFP®, CRPC ®
Aug 09, 2011 rated it did not like it
Shelves: economics
If you read this one book, and then formulate your opinions about the market with this material alone, you are a moron. This book will forever stick in my memory as a yardstick to determine intelligence by. I told my wife that it isn’t bad, per se. It’s just stupid, wrong, and written for a 5th grader. Admittedly, it simplifies a huge problem in a concise manner… but that’s the problem.

It is such an oversimplification that it allows the author to subtly interject erroneous beliefs into the narr
...more
Syd Amir
به نظرم عنوان اصلی کتاب بهتر بود
How an Economy Grows and Why It Crashes
این کتاب اصلا کتابی برای اموختن اقتصاد نیست بیشتر کتابی است برای اشنایی با تاریخ اقتصاد ایالات متحده و اینکه چطوره سر دیگر کشورها کلاه گذاشته و مشکلات داخلی خودش رو بیرون فرستاده ک البته برای این منظور کتاب خوبی بود

نثر کتاب و داستانی بودن و طنزش خیلی دلنشین بود و باعث می شه به واقع همون طور ک مترجم هم گفته ادم نتونه کتاب رو زمین بذاره و یهو تا اخر کتاب می خونه و تمومش کنه.
Mohammad
داستانی جذاب و ساده برای بیان مسائل اقتصاد کلان
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
Toe
Nov 25, 2012 rated it liked it
Shelves: nonfiction
Peter Schiff exposes the flaw in Keynesian economics through the use of an extended allegory or parable. His story involves an island nation that grows from subsistence living to great prosperity and then declines. The island nation represents the United States. The story serves as a warning against Keynesianism.

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
sepehrdad
در اصل نویسنده ی کتاب ایروین شف است. پدر پیتر و اندرو. او یک اقتصاددان بود و هنگام مسافرت و در ترافیک برای پسرهایش قصه های اقتصادی تعریف می کرد. قصه هایی خنده دار که مهم ترین مفاهیم اقتصاد کلان را در مغز پسرهایش حک می کردند. داستان جزیره ی اوسونیا در نگاه اول خنده دار و جالب است، ولی بعد که نگاه می کنی می بینی چه قدر با ظرافت مفاهیم غیرقابل تصور اقتصاد کلان را توضیح داده. ایروین این داستان ها را اولین بار در کتاب "بزرگ ترین کلاه بردار دنیا: چگونه دولت شما را لخت می کند، غارت می کند و می چاپد" چا ...more
Saeed Ramazany
Apr 30, 2018 rated it really liked it  ·  review of another edition
قبلا چند صفحهای از نسخهی ترجمهی دکتر ارباب رو خونده بودم و گذاشته بودم کنار.
اما این یکی ترجمه «سهند حمزهئی» رو همین که شروع کردم به خوندن، تا آخر خوندم.
نه این که خیلی جذاب باشه، بلکه ترکیب جذابیت و روان بودن و وقت آزادم باعث شد یک ریز تا آخر برم. مخصوصا که یه طنز کوچولویی هم داره.

کتاب ویژگیهایی داره که برا اقتصاد آمریکا مناسبترش میکنه. مثلا خرید و فروش وام و شرکتهایی که تضمین وام میدن و این تا چند سطح میتونه بره. یا سیستم وام مسکن و وام دانشجویی و هزینههای دانشگاه آمریکا با سیستم ایران خیلی فرق
...more
Jeremy
Apr 18, 2011 rated it it was amazing
Shelves: econ

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?

Quotes:

We are told that we must go deeper into debt to fix out debt crisis, and that we
...more
Andrew Fish
Nov 26, 2012 rated it liked it
Shelves: economics
Fun, but flawed.

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
awwsalah
Apr 03, 2018 rated it it was amazing
Shelves: economics
well, If you are destined to become a successful person, then facing your personal issues wouldn’t be a problem for you. People in general, have very little knowledge of how the economy affects our daily lives, regardless of our interests.
Sometimes, the lower-class citizens are entirely neglected by the government, which makes it even hard for people with their set of skills to find a job. In the final analyses, Schiff is convinced that the countries should eradicate the concept of minimum wage.
...more
Nilesh
Mar 23, 2012 rated it it was amazing
This book reflects my views and style more than anything I have read that's not my own. Hence the rating could not have been any different!

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
Miroslav Krajnak
This is my review on Amazon dated October 22, 2013:

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
Mark Rosemaker
Worum ging es in dem Buch?
Dieses Buch erklärt den Verlauf der Wirtschaft der USA mithilfe einer Parabel: Drei Männer leben auf einer Insel. Die Wirtschaft wächst und es kommen mehr Menschen hinzu, weil immer wieder Unternehmer Opfer und Risiken auf sich nehmen, um Werte zu schaffen. Es entsteht ein Staat, der den Markt immer mehr verzerrt. Es erfolgt der Übergang zur Papierwährung, Blasen und Crashs.

Was habe ich gelernt?
Ich habe leider nicht viel gelernt, was ich vorher schon wusste. Allerdings
...more
Nathaniel
Feb 10, 2013 rated it really liked it
Very entertaining and a remarkably easy read. Schiff argues compellingly that the basic principles of an economy remain basically the same between large and small economies. He allegorizes how an economy grows in the story of small fishing economy, providing many clear insights in economics along the way.
Ashish Joshi
Feb 04, 2016 rated it it was amazing
This book must be read at an age when your mind is ready to differentiate between the prevalent economic ideologies and their merits/demerits but certainly not before an age where you cannot locate the fallacies in the author's arguments. Without any background in economics, I personally wish I could have read it before my post-graduation in business management.
V K
Dec 06, 2015 rated it it was amazing
A really good easy explanation for what's happening with our economy and why, for people who couldn't be further from economic theory. Perfect. Can this be required reading for our federal government and ALL high school seniors? This instead of a standardized test please.
Marcelo Advíncula
Mar 18, 2019 rated it really liked it
It’s an over simplified explanation of how a regular economy works and its cycles (boom and bust). But it is focused on the united states economy (mainly the recession part [housing and educational bubbles])

The book’s characters also have names very similar to the real life people behind the real events (e.g. George W. Bass, Ben Barnacle e Barry Obuda).

I think the book is aimed for beginners in economy studies but at the same time you have to have a certain knowledge on economics subjects such a
...more
Marie
Aug 19, 2017 rated it liked it
The allegory in this book is useful for understanding economic principles, but the author's main message seems to be that an unregulated market economy is always the best thing for everyone, and problems occur only when government steps in to try to help. Everyone on the island seems to benefit equally from advances in technology; somehow the guy catching fish still earns a livable wage even when there's someone who owns all the nets and boats. It seems to me it's easy to say "look where Keynesi ...more
Amir HP
Sep 20, 2018 rated it it was amazing  ·  review of another edition
Shelves: management-mind
از بهترین کتابهایی که درباره اقتصاد خوندم. منطق اصلی اقتصاد رو در قالب یک داستان ساده بیان میکنه. اینکه چطوری ثروتمندتر میشیم؟ اصلا منطق اینکه بعضی ها ثروتمندتر هستند چیه؟ چرا خونه نباید گرون بشه. سرمایه گذاری چیه و از کجا پیداش شد. منطق تمام اینها هم ساده است. هرجا به بهرهوری اضافه کنیم و با انرژی کمتر کارهای بیشتری بکنیم ثروتمندتر شدیم. هرچند گرایشهای خاصی در داستان هست اما به هر حال مرور کلی سیاستهای اقتصادی آمریکا درش جذابه. ...more
Michał Józef Gąsior
Mimo uproszczeń, wciąż świetna książka, która wyjaśnia przyczyny i skutki globalnego kryzysu z lat 2007-2010. W jasny sposób opisuje dlaczego ten problem nie został jak dotąd rozwiązany i dlaczego jego przykre konsekwencje zostały jedynie odroczone w czasie.
Mohammad nima Eslamian
به طور کلی کتاب در مورد اصول شکل گیری اقتصاد و سپس اقتصاد آمریکاست، اما خیلی جالب بود که اشتباهات اقتصادی آمریکا توسط ایران مو به مو در حال اجراست.
کتاب بسیار جذابه که اگه بگیرید دستتون واقعا سخته دوباره زمین بزاریدش.
Chris
Jun 08, 2018 rated it it was amazing  ·  review of another edition
A real eye-opener

Reading this book will show you what is really going on with both our domestic and global economies. It's written in a simple story form but also contains additional information that digs a little deeper.
Mehdy Khoshnoody
خیلی ساده و روان اقتصاد رو توضیح میده

به شکل جالبی من رو یاد این جملهی انشتین میندازه: «اگر نمیتونی به سادگی توضیحش بدی، یعنی خودت خوب نفهمیدیش»

به نظرم اونایی(!) که اقصادی رو جوری توضیح میدن که آدم با خودش فکر میکنه اقتصاد پیچیدهتر از اونیه که من بفهممش همونهایین که دارن گند میزنن به اقتصاد
...more
Massgreen
Mar 12, 2017 rated it it was amazing
Economy will be better off by running free market. Artificially low interest rate to stimulate spending is not the way to boost/recover the economy. The governments attempts to smooth out the volatility of free markets by expanding the supply of money and running large budget deficits when times were tough set a greater fall in the future.

good fact: "Inflation is simply a means to transfer wealth from anyone
who has savings in a particular currency to anyone who has
debt in the same currency. With
...more
Mark Geise
Feb 10, 2015 rated it it was amazing
“How an Economy Grows and Why it Crashes” is an enjoyable read by Peter and Andrew Schiff. It is obviously a simple allegory, but I think it does a great job to illustrate things that have happened and continue to happen on a global scale. Due to the economics profession, most people believe that macroeconomics is beyond their understanding. Much of the economics profession has (I believe) intentionally obfuscated basic concepts to put them out of reach of the layman. I laughed out loud a few ti ...more
Lynda
Feb 06, 2015 rated it it was amazing
This is the first book I have read two times back to back. For economics majors who were (only) exposed to Keynesian economics, this book serves as a wake-up call. The book's substance and argument are profound despite its 'fun' tone with the wonderful cartoons displayed throughout and its compact size and accessible language; no American should go about their lives without reading it. When reading the news about how Fed pondering raising interest rates later in 2015 since they claim the economi ...more
Mustafa Abdelrahman
Feb 16, 2015 rated it it was amazing
Shelves: economics, favorites
With the simplest and most interesting approach, the author demonstrated the main economic principles staring from microeconomics to the international trade with a highlight on the relationship between china and the US.

The book starts by a tale of three men living on an island with one requirement to live,Each one has to catch at least one fish.For simplicity, they spend the whole day to catch that fish.After that, one of them came up with an idea ,that would boost the productivity of the entire
...more
Bill Peacock
Peter and Andrew Schiff wrote this book based on the book by the father Irwin. It combines simple explanations and cartoon-like illustrations on almost every page to lay out clearly the effects of government intervention in the market. It begins with three men on a Pacific-style island who work all day to catch one fish with their bare hands--just enough to survive. One of them, Abel, finally gets tired of sustenance living and his desire for more leads him to invent a net. Abel has to go withou ...more
Clinton
Jan 27, 2012 rated it it was amazing
Although the book only briefly illustrates the philosophy of Austrian Economics, How an Economy Grows and Why It Crashes is a wonderfully concise and entertaining story for those who are unfamiliar with Austrian Economics.
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
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Peter David Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the United States Senate seat from Connecticut.

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
“In Keynes’s time, physicists were first grappling with the concept of quantum mechanics, which, among other things, imagined a cosmos governed by two entirely different sets of physical laws: one for very small particles, like protons and electrons, and another for everything else. Perhaps sensing that the boring study of economics needed a fresh shot in the arm, Keynes proposed a similar world view in which one set of economic laws came in to play at the micro level (concerning the realm of individuals and families) and another set at the macro level (concerning nations and governments).” 3 likes
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