How an Economy Grows and Why It Crashes by Peter Schiff ; Animated Book Summary 

I love these kinds of videos. I've read the book myself and can say it is a wonderful eye opener that anyone can read and understand. Hopefully this video helps others understand you can't tax and/or spend your way into prosperity.

this was super helpful to summarize the book & take notes off of thank youuu

This is an amazing book that I’ve read several times and would recommend to anyone

Nicely done Peter.

So that we should teach the youth how to build a small business instead of going to college with a nonsense degree.

Very good awesome simple but true

Nice & quality video. Thumbs up :)

Really an eye open :) Thank you for posting!

Are you going to do one on "the real crash"? Thanks

Does the book really explains all this with fish and metaphors ?

Proper knowledge

Thank you.

Great video..6:24 the illustration is a guy on a snowboard =)

excellent

Good effort but this goes over too many topics too quickly for the layman to understand. Jumps straight from fishes to money. Should emphasis that money is a derivative of risk taking, sacrafic, and savings. Peter does a better job explaining in the book.

1:16 the question is, would they have always been able to do the same thing the way Able did when he didn’t eat for a day? Why do they need to take a loan?

Wow!

A little bit yea

Peter doesn't value services. But services like Google Cloud or Netflix are also a valuable thing. I like Peter Schiff but it doesn't mean that I agree with all he says. USA specialize in exports of weapons, aircrafts, agricultural products, movies and software products.

LET ME EXPLAIN THIS SIMPLE... IF CREDIT WAS NOT INVENTED PPL WERE LAZY.. figure it out

STOP SAYING REALITY CHECK

Reality check: You don't need 20 fish a day to satisfy your hunger. Reality check: Economic recessions are numbers on a board for some, destroyed families for others.

please anybody that can send this to a communist? thank you

The book seems to be putting Capitalism up on a very high pedestal without acknowledging the problems with monopolies and other pitfalls. It also seems to dislike government in general. Interesting.

Smoke and mirrors. Without governement, we would be throwing stones at each other. No knowledge of history as far as I can tell. Government is not the only reason for the destruction of economies. It can play a part, but people are wealthier even when a government is lousy (other than maybe the North Koreans). When you don't understand why government is the catalyst of economies, you can't really figure out how the economy works and grows. Markets are only part of how the economies work.

this video is so stupid. of course the government should not own buisnesses or abolish private proprety, because this would mean socialism(a shitty system). but in time of economic recession it should boost demand by deficit spending. i'm gonna explain this in a second. this video focus too much on production of goods(supply) as if it is enough to determine the economic conditions. it forgets DEMAND for goods and services wich is necessary because without it buisnesses would just create products witout selling them and make any profit. in times of recession it is created a vicious cycle in wich (because there is a drop in demand) industries cannot sell so they cut on production and jobs, in this way more unemployement is created and demand drops even more! the government should spend more money than it collects in taxes, increasing savings and demand. this will create DEBT, right? no, because in a country with monetary sovereignty government can create money witout borrowing them. now you will reply: "But this would lead to INFLATION!". well, absolutely not. 'cause the government then uses taxation as a tool of monetary policy, so it keeps the price stable.

Great book... highly recommended. 7:29 is where you got it wrong: A healthy economy can have a service sector. Early hollywood (and current) is a good example. The fact that the economy was so healthy that you could get paid to pretend to be a character just for entertainment, is mind boggling. When "fish" are so cheap you can start entertaining the rich. Cleaning their homes. Produce skateboard videos... fucking skateboard videos is a real thing. It's mad. Giving cooking lessons is a thing... Not looking for food all day... actually getting paid by people to show them how to cook their piles and piles of food. That's what inventions and automation and a free economy lead to. We all have enough money and free time to pay someone to teach you yoga poses. Something that's absolutely insane to a third world or second world country.