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How An Economy Grows And Why It Crashes
''How an Economy Grows and Why it Crashes'' (2010) is an illustrated book 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 2008 financial crisis. ''The Washington Times'' stated that the book " onveysthe often intuitive ideas of economics through an engaging, fictitious story richly illustrated with amusing cartoons." Content This book presents three important points of 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 need inflation but rather deflation for prosperity. Award The book was a 2010 winner of the getAbstract International Book Award, and a ''New York Times'' best-seller. Preceding book The book was based on an earlier "economic co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Schiff
Peter David Schiff (; born March 23, 1963; nicknamed "Dr. Doom") is an American stockbroker, financial commentator, and radio personality. He co-founded Echelon Wealth Partners in Canada (formerly Euro Pacific Canada). He is involved in other financial services companies including Euro Pacific Asset Management, as an independent investment advisor, and Schiff Gold (formerly Euro Pacific Precious Metals). He has criticized US banking and credit practices. Personal life Schiff was born to a middle-class Jewish family in New Haven, Connecticut. His father, Irwin Schiff, who was the son of Jewish immigrants from Poland, served in the US Army during World War II. Schiff's parents divorced when he was young and he moved around the country with his mother and his brother, Andrew, from Connecticut to Manhattan to Florida and finally to Southern California. Peter Schiff credits his father for introducing him to the Austrian School of economic thought. Irwin Schiff was a prominent figure ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Wiley & Sons
John Wiley & Sons, Inc., commonly known as Wiley (), is an American Multinational corporation, multinational Publishing, publishing company that focuses on academic publishing and instructional materials. The company was founded in 1807 and produces books, Academic journal, journals, and encyclopedias, in print and electronically, as well as online products and services, training materials, and educational materials for undergraduate, graduate, and continuing education students. History The company was established in 1807 when Charles Wiley opened a print shop in Manhattan. The company was the publisher of 19th century American literary figures like James Fenimore Cooper, Washington Irving, Herman Melville, and Edgar Allan Poe, as well as of legal, religious, and other non-fiction titles. The firm took its current name in 1865. Wiley later shifted its focus to scientific, Technology, technical, and engineering subject areas, abandoning its literary interests. Wiley's son Joh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hardback
A hardcover, hard cover, or hardback (also known as hardbound, and sometimes as casebound (At p. 247.)) book is one bound with rigid protective covers (typically of binder's board or heavy paperboard covered with buckram or other cloth, heavy paper, or occasionally leather). It has a flexible, sewn spine which allows the book to lie flat on a surface when opened. Modern hardcovers may have the pages glued onto the spine in much the same way as paperbacks. Following the ISBN sequence numbers, books of this type may be identified by the abbreviation Hbk. Overview Hardcover books are often printed on acid-free paper, and they are much more durable than paperbacks, which have flexible, easily damaged paper covers. Hardcover books are marginally more costly to manufacture. Hardcovers are frequently protected by artistic dust jackets, but a "jacketless" alternative has increased in popularity: these "paper-over-board" or "jacketless" hardcover bindings forgo the dust jacket in fav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allegory
As a List of narrative techniques, literary device or artistic form, an allegory is a wikt:narrative, narrative or visual representation in which a character, place, or event can be interpreted to represent a meaning with moral or political significance. Authors have used allegory throughout history in all forms of art to illustrate or convey complex ideas and concepts in ways that are comprehensible or striking to its viewers, readers, or listeners. Writers and speakers typically use allegories to convey (semi-) hidden or complex meanings through symbolism (arts), symbolic figures, actions, imagery, or events, which together create the moral, spiritual, or political meaning the author wishes to convey. Many allegories use personification of abstract concepts. Etymology First attested in English in 1382, the word ''allegory'' comes from Latin ''allegoria'', the latinisation (literature), latinisation of the Greek language, Greek ἀλληγορία (''allegoría''), "veiled ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deficit Spending
Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit, the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. A central point of controversy in economics, government deficit spending was first identified as a necessary economic tool by John Maynard Keynes in the wake of the Great Depression. Controversy Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to compensate for the shortfall in aggregate demand, but should run surpluses in boom times so that there is no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Banking
Central is an adjective usually referring to being in the center of some place or (mathematical) object. Central may also refer to: Directions and generalised locations * Central Africa, a region in the centre of Africa continent, also known as Middle Africa * Central America, a region in the centre of America continent * Central Asia, a region in the centre of Eurasian continent * Central Australia, a region of the Australian continent * Central Belt, an area in the centre of Scotland * Central Europe, a region of the European continent * Central London, the centre of London * Central Region (other) * Central United States, a region of the United States of America Specific locations Countries * Central African Republic, a country in Africa States and provinces * Blue Nile (state) or Central, a state in Sudan * Central Department, Paraguay * Central Province (Kenya) * Central Province (Papua New Guinea) * Central Province (Solomon Islands) * Central Province, Sr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (See: World economy.) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states, factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization. These organizations work towards the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Housing Bubble
The 2000s United States housing bubble or house price boom or 2000s housing cycle was a sharp run up and subsequent collapse of house asset prices affecting over half of the U.S. states. In many regions a Real-estate bubble, real estate bubble, it was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the Case–Shiller index, Case–Shiller home price index reported the largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is an important cause of the Great Recession in the United States. Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a Subprime mortgage crisis, crisis in August 2008 for the Subprime mortgage, subprime, Alt-A, collateralized debt obligation (CDO), mortgage loan, mortgage, Fixed income, credit, hedge fund, and foreign bank markets. In October 2007, Henry Paulson, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington Times
''The Washington Times'' is an American conservative daily newspaper published in Washington, D.C. It covers general interest topics with an emphasis on national politics. Its broadsheet daily edition is distributed throughout Washington, D.C. and the greater Washington metropolitan area, including suburban Maryland and Northern Virginia. It also publishes a subscription-based weekly tabloid edition aimed at a national audience. The first edition of ''The Washington Times'' was published on May 17, 1982. The newspaper was founded by Unification Church leader Sun Myung Moon, and it was owned until 2010 by News World Communications, an international media conglomerate founded by Moon. It is currently owned by Operations Holdings, which is a part of the Unification Church movement. ''The Washington Times'' has been known for its conservative political stance, often supporting the policies of Republican presidents Ronald Reagan, George H. W. Bush, George W. Bush, and Donald T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GetAbstract International Book Award
The getAbstract International Book Award is a bilingual award for nonfiction Business, business-focused books. History The getAbstract International Book Award has been presented annually since 2001 and is awarded to four authors (or Collaborative writing, co-authors) for their work in English or German. The initial focus of the award was on books from the genres economics, politics, and society. Over the years, the focus has narrowed more specifically to business-relevant books. The award intends to raise the visibility of "(...) titles that make a difference to how [people] think, work, and live.” Until 2020, the award ceremony took place at the Frankfurt Book Fair; since the COVID-19 pandemic, COVID-19 pandemic, the award has been presented virtually. In 2021, the getAbstract International Book Award will include a total financial prize of Euro, EUR 20,000. Media partners The getAbstract International Book Award has been presented in cooperation with notable business med ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
