False Economy – Rich Content 8.5


 

I don’t know how to summarize this book. Every word serves an inseparable function in this 300 pages book. Be it a sheer statistic argument, ingenious satire or vivid historical anecdotes, Mr. Alan Beattie demonstrated his mastery usage of language and extensive knowledge of world history in his maiden book.

One moment he makes you observe as he performs anatomy on the Rome economy; Sooner than you can digest the early market mechanism in Vienna, he teleports you to Mumbai’s crowded slums. On one page he shows how Dutch disease has destroyed a country; on the other one, he shows how honest president failed to bring prosperity to his countrymen. Mr. Beattie explored in retrospective why some countries are rich and others are poor and how each has reached its current stage. He also proposes that economic development is path dependent. What a country had experienced before a certain turning point could play a significant influence for decision making at that point. Abundant natural resources, if managed efficiently, do not always result in corrupted government.

Mr. Beattie vigorously defies fatalism and the predicate that certain religion or culture are economically inferior to others. He points out even though expatriates carry with them the strong cultural signature; they performed quite differently outside of their native residence.

There is so much to learn from his unique way of understanding the world economy. My word may have barely covered 1% of its essence. It is an immensely rich content book with beautiful sentences. It is a must read for contemporary world economy.

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