How an Economy Grows and Why It Crashes

Written with his brother Andrew and illustrated throughout, this book explains macroeconomics through a parable: three men on an island who start by catching fish and gradually build saving, lending, investment, and eventually a currency and a government. The fable format lets the Schiffs argue their Austrian-school case, that saving and production drive real growth while credit expansion and manipulation cause crashes, in terms a complete beginner can follow. Funny and pointed, it is their most accessible book.