How an economy grows and why it crashes
by Peter D. Schiff · first published 2010
67% recommend25% neutral8% critical
Why HN recommends it
A short, plain-language introduction to economics from a libertarian, Austrian-leaning perspective. It covers the basics of how wealth is created and why economic downturns happen.
Summarised by Claude from recommending comments
"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
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…economists are just blown away in surprise that it even happened. Mises and Hayek wrote big and hard to read books about it, but two that explain this to the layman are "Meltdown" by Tom Woods[0] and "How An Economy Grows And Why It Crashes" by Peter Schiff[1]. The first is an explanation using the 2008 crisis, and the second is a very amusing yet educating economy lesson told as a kids' story. Another book that can help grasp this, although…
on “Ask HN: What are you reading to make sense of the economy?” ↗…Hazlitt http://mises.org/books/economics_in_one_lesson_hazlitt.pdf This book is an outstanding place to start. It addresses a myriad of economic concepts in simple language. It's available for free through the Mises Institute. "How an Economy Grows and Why It Crashes" by Peter Schiff http://www.amazon.com/How-Economy-Grows-Why-Crashes/dp/04705... This book gives a simple overview of macro issues and is an interesting and well-presented tale about how economies grow…
on “Low pay and the rise of the machines” ↗…Lambert, and how Milken developed their junk bond trades. I don't know of one, perhaps someone else can recommend. For broader economic picture stuff, I recommend Hazlitt _Economics in One Lesson_; Schiff _How an Economy Grows and Why It Crashes_; Soros, _The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means_.
on “Facebook Derivatives: Wall Street Goes Rogue-er” ↗…fiction, which I don't read. But if you learn how wealth can be created from simple exchange between two people, that's the aha moment. I'd recommend PraxGirl's Praxeology series on youtube, and Schiff's How an Economy Grows and Why it Crashes.
on “Ireland to close corporate tax loophole used by Google and others” ↗How an Economy Grows and Why It Crashes from Peter Schiff: https://www.amazon.com/How-Economy-Grows-Why-Crashes/dp/0470... Very short read - economics basics from libertarian view.
on “Ask HN: What are the must-read books about economics/finance?” ↗1. How an Economy Grows and Why it Crashes (2010) by Peter Schiff and Andrew Schiff 2. A Template For Understanding Big Debt Crises (2018) by Ray Dalio 3. Capitalism: The Unknown Ideal by Ayn Rand 4. Basic Economics: A Citizen's Guide to the…
on “Ask HN: What are you reading to make sense of the economy?” ↗See also Schiff's How an Economy Grows and Why It Crashes
on “Finance is Not the Economy” ↗Peter D. Schiff "How an Economy Grows and Why It Crashes"
on “Don't get caught up in blockchain hype” ↗…palantir new joiner - not fantastic but has some thought provoking ideas; i.e. which very important truth would very few people agree with you on?) Economy/finance === - Basic economics (Thomas Sowell) - How an economy grows and why it crashes - Know the city Math === - Coffee time in Memphis - Real analysis (mathematics textbook) - Problems from the book (Halfway through this one, and I found it really enjoyable, even with only a CS…
on “Ask HN: Books you plan to read in 2020?” ↗Irwin Schiff's sons recently wrote "How an Economy Grows and Why It Crashes", a book inspired by their father's book.
on “Ask HN: Best book(s) to learn about the basics of economics?” ↗That's really interesting. It reminds of me Schiff's parable story: How An Economy Grows And Why It Crashes
on “Finance is Not the Economy” ↗…surprisingly, a lot of overlap in my have-read/wants-to-read: Master and Margarita: Very recommendable. Three body problem: Got bored. Enten-Eller: Delightful. Basic economics (Sowell): Very recommendable. How an economy grows and why it crashes: Childish and grossly simplifying. I read this one while taking a year's of economics on top of my CS. My impression is that some economists have a bad habit of not stating their basic scholastic assumptions.…
on “Ask HN: Books you plan to read in 2020?” ↗