Analysis of why some countries and cities get rich - Rated 
This is a fabulous book that provides an analysis of why some countries and cities get prosperous while others stumble.
The author says that countries and cities do not get rich by accident. They make choices that affect their economies. I liked the example of Argentina versus the United States. Before the Great Depression, Argentina was one of the top ten richest economies in the world. A century later, it is broke, and the United States has become the most powerful economy on the planet.
I really liked the analysis of why countries with natural resources, such as oil, are not rich. The author says that the reason for this is because to extract resources from the ground requires heavy machines and equipment instead of human labor. People in these countries do not have jobs. On the other hand, countries such as China and Taiwan reduced poverty because their economies provided low-paying or medium-paying jobs. Those people have money to spend, fueling the economy.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
A rather short and witty book on a vast subject - Rated 
If chronologically authored, an account or analytical narrative about economic history of the world would have taken-up many volumes. Instead, Alan Beattie, world trade Editor of the Financial Times, chose to employ his wit, knowledge and researching skills to conjure up this book comprising of short thematic chapters offering viewpoints coupled with historical contexts on anything from natural resources and agriculture to urbanisation and economic progress (or lack of it in some cases).
As for the element of surprise, Beattie is true to his word. He begins the narrative by fictionally staging the 9/11 attacks in Argentina and economic collapse of the U.S. Of course, in 2001 actual events occurred the other way round, but the author suggests it could so easily have been different. For most of the 19th century both nations held similar economic potential, yet the U.S. evolved into a superpower while Argentina went into near-terminal decline. He argues that such a trajectory was not preordained but down to differing employment of resources and political will. Both countries, he opines, were given "similar hands" at one point in history, but played them very differently.
Continuing down this path, Beattie offers a similar type of analysis about why, for instance, abundant natural resources turn out to be a curse for some nations or why religion is no hindrance to economic progress or prowess of others. Spread over ten chapters, in this short book, the auther has picked and chosen his way through history, commerce, business practices, politics and religious texts to make his arguments. Chapter 2 (on urbanisation, especially in Latin America), Chapter 3 (on trade) and Chapter 4 (on natural resources) are the ones I particularly liked.
On the other hand, one minor criticism I offer is that Beattie, at times, comes across as working needlessly overtime to live-up to the "surprising" bit in the book's title. Fictionally moving 9/11 to Argentina or opining that if the U.S. does not sort out some of its problems in the financial system, it too could head down Argentina's path is a bit over the top if not downright silly. The content of this book does not need steroid shots. However, regrettably it has escaped the author. Nonetheless, an overt eagerness to impress the reader should not be held against him.
Overall, it is a good book and by the time the reader reaches concluding pages, the author seems to have pulled ample lessons from our economic history that we ought to take note of. Rounding off with Shakespeare's words - "Our remedies oft in ourselves do lie" - is not half bad an idea, either.
Doesnt have the answers it claims - Rated 
Clearly Alan Beattie can put together a series of anecdotes well enough, but therein lies the problem. Economists like this one have all appeared as if by magic over the past couple of years claiming to have all the answers. frankly the truth is something more along the lines of being wise after the event. Some parts of this were certainly educational and interesting to read about making this more of a starting off point than a destination. One cant help but get the feeling that the author (and others of similar pop-econ books) has cherry picked anecdotes and phrases. he does come close at times to wearing his capitalist heart on his sleeve, particularly when wheeling out the well worn cliche that government should "get out of the way".
In summary, there are points of interest here and there but this book is really far too superficial to be anything other than a light read.
Counterfactually creative - Rated
This is an important book. Here's why: Beattie's insight is to show, using a deft mix of well chosen examples, that our fates are not pre-ordained, that with a slightly different mix of people, ideas and circumstances our western world could have been very much poorer. So we need to revisit our conclusions about the fate of nations (e,g, why the USA became a superpower and not Argentina) to learn lessons in surviving the changes brought on by the financial meltdown in 2008.
Read it and enjoy it.
Suitable for a broad audience - Rated
I found this book fascinating. Although, like a previous reviewer, I have no economic background and therefore couldn't comment on the soundness of the analysis, it's certainly plausible and enjoyable. The author could have written a boring book, instead it's a fascinating read with broad appeal (both myself and my father-in-law enjoyed it!). It would make a great Christmas gift for anyone interested in how the world works (or doesn't), or for those with a curious mind.
|
