How an Economy Grows and Why It Crashes by Peter Schiff ; Animated Book Summary
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- Опубликовано: 29 авг 2024
- How an Economy Grows and Why It Crashes by Peter Schiff ; Animated Book Summary
How an Economy Grows and Why it Crashes uses illustration, humor, and accessible storytelling to explain complex topics of economic growth and monetary systems.
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Music:
bright shining - Sparkol Music
Translation & proofreading:
Judith Grinberg
Voice-over:
Daniel Williams
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.
+Henry Hazlitt I hope so too :) thank you for your feedback. If you know there i can publish this video please let me know.
I think the book is shit and just serves as more capitalist brainwashing for me and my classmates
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
So that we should teach the youth how to build a small business instead of going to college with a nonsense degree.
And a huge debt.
Not necessarily. Just teach them to understand a nonsense degree may not be economically viable and that economies start with things pulled from the earth (fish, trees, ore, oil, etc)
What type of business could you make without knowledge?
Nicely done Peter.
Nice & quality video. Thumbs up :)
Very good awesome simple but true
Does the book really explains all this with fish and metaphors ?
yes :) "the book really explains all this with fish and metaphors"
Proper knowledge
Are you going to do one on "the real crash"? Thanks
Really an eye open :) Thank you for posting!
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.
Thank you.
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?
I think this is just to illustrate risk-aversion and the time preference of money.
cos they dont wanna starve and take the risk of dying
Great video..6:24 the illustration is a guy on a snowboard =)
excellent
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.
I think the focus should be that what makes an economy grow is the industrial production of a nation and not the services(although they are very comfortable to use) like netflix, google, twitter, cloud, delivery, health, teaching, etc.
LET ME EXPLAIN THIS SIMPLE... IF CREDIT WAS NOT INVENTED PPL WERE LAZY.. figure it out
please anybody that can send this to a communist? thank you
STOP SAYING REALITY CHECK
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.
@@Andreas4696 what about the standard oil company? Or even Microsoft? The government created them or help to create them? 🤔
facts i dont like this book.
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.
So what would they do with the other fish? They would invest it to make more money and this would increase productivity... man it's like you missed the entire point of the video.
@@firstlast5630 but it would increase the standard of living of all equally? Or they should tax the owner if the fish more and spread it to all the commons.
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.
you are correct...government , especially democracies are for the people, and 80% of people are bullshit, look around, developed or developing country..
Such weak people do need government, here comes the "welfare" state
Try googling "Auroville". Learning about it may inspire you to change your opinion.
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.
I bet you pay for our credit cards with new ones great system untill you have to pay up
This is not a counter argument...
The economy is divided in three sectors:
-government sector
-private sector
-forreign sector
They exchange money for goods and services every day, so the sum of the balances of the three sector must be zero(see the link below)
This means that all the sectors can't have a surplus in their balances at the same time. In order for one sector to have a surplus, one of the other(or the other two) must have a deficit.
Now, let's imagine an economy with exports=imports(exports+imports=0).
In this case the only way the private sector can increase its aggregate savings it's by government deficits.
So if the government has a -1000 € deficit, on the other hand the private sector has a +1000 € surplus. This is the concept.
The government can increase taxes and reduce spending to avoid inflation. Why? Because in this way the government runs a surplus and the private sector a deficit. So its savings decrease and so does demand.
I hope i explained this well, consider that i'm not english.
en.m.wikipedia.org
tizio scemo so I bet you pay credit cards with other credit cards really smart concept the story showed it worked great till you have to pay the bill dipshit