How an Economy Grows and Why It Crashes

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How an Economy Grows and Why it Crashes
AuthorPeter Schiff and Andrew Schiff
IllustratorBrendan Leach
CountryUnited States
LanguageEnglish
SubjectFinance/Economics
PublisherWiley
Publication date
May 3, 2010 (1st edition)
Media typePrint (Hardback)
Pages256
ISBN0-470-52670-X

How an Economy Grows and Why it Crashes (2010) is an illustrated polemic on various economic topics by Peter Schiff and Andrew Schiff. The book allegorically explores such topics as inflation, deficit spending, central banking, international trade, and the housing bubble and credit collapse of 2008. The Washington Times stated that the book "[conveys] the often intuitive ideas of economics through an engaging, fictitious story richly illustrated with amusing cartoons."[1]

Content

This book presents three important points of the Austrian economics: First, the fundamental reason for promoting economic growth is production, not consumption; second, improving the deteriorating economic situation requires savings rather than consumption; third, the economy does not When it comes to prosperity, it needs deflation, not inflation. Also,there are three important points from the book: First, the fundamental reason for promoting economic growth is production, not consumption. Second, to improve the deteriorating economic situation, it should be savings, not consumption. Third, when the economy is in a downturn, what is needed is deflation, not inflation.


Award

The book was a 2010 winner of the getAbstract International Book Award,[2] and a New York Times best-seller.[3]

Preceding book

The book was based on an earlier "economic comic book" by the authors' father Irwin Schiff, titled How an Economy Grows and Why it Doesn't.

References

  1. ^ Lott, Roger (2010-06-30). "BOOK REVIEW: 'How an Economy Grows and Why It Crashes'". Washington Times. Retrieved 2013-08-18.
  2. ^ "getAbstract". getAbstract. Retrieved 2013-08-18.
  3. ^ Dixler, Elsa. "Best Sellers - The New York Times". Nytimes.com. Retrieved 2013-08-18.

External links


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