- Paperback: 108 pages
- Publisher: Freedom Books (May 1985)
- Language: English
- ISBN-10: 0930374061
- ISBN-13: 978-0930374068
- Product Dimensions: 0.2 x 6 x 9 inches
- Shipping Weight: 6.4 ounces
- Average Customer Review: 8 customer reviews
- Amazon Best Sellers Rank: #1,738,084 in Books (See Top 100 in Books)
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How an Economy Grows and Why It Doesn't
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"The inside front cover and title page have white adhesive to cover an inscription. The outside cover and all other pages are in excellent condition." - This is a seller's description of their item's condition, not a description of the product. Product description should be the text from the back of the book, as follows: "In "How an Economy Grows (And Why It Doesn't)" Irwin Schiff, America's leading expert on the Federal Income Tax, presents economics in his thoroughly informative, yet always entertaining manner; proving that the only thing -dismal- about the "dismal science" must be those who normally teach and write about it. Without a doubt, anyone reading Schiff's hilarious allegory will have a far better understanding of economics than many who have pursued the subject full time at our nation's universities."
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The main point of the book is that very simple principals are all that is needed to understand the overall workings of any sized economy.
Economic theory is explained in the narrative of a series of approximately 300 comic frames. The setting is a tropical island where hunter/gatherer cavemen struggle daily to collect fish to eat. The concepts of risk, creation of capital assets, return, consumption, saving and borrowing are explained.
The economy of the island becomes increasingly dynamic as the story goes on. Institutions develope to protect the islanders' savings and captial assets from theives and disasters. The concepts and purposes of government, public works projects, welfare, inflation are progressively treated in context of this island economy.
Some people may not like the comic format but I think it would be difficult to explain the subject better or more concisely.
Regardless of Amazon's claim to my work, I retain copyright to this review.
Steven Thomas, Copyright 1997.
Schiff has taken a lifetime's experience and observation and distilled it into a comic book that can be read in an hour or so, but the lessons learned are immeasurable. It will teach you about investment, savings, capital and inflation, faster and with greater enjoyment than all the textbooks and position papers stretching from here to Jupiter and back. It will also arm you mentally for all future encounters with politicians or government spokesmen when they try to "explain" why America's economy is in such a bad way, and why we keep paying more and more for less and less.
Schiff has done a great public service in giving us a cheap and painless way to learn the basics of how an economy grows and why it doesn't. The pain will come in trying to reverse generations of misguided and uninformed economic policy.