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False Economy, a new book by Financial Times writer Alan Beattie is both ambitious in its geographic and historical scope and quite reserved in drawing monumental judgments. Written for a the general reader, it is light on the economic theory and, when raised, explained clearly and succinctly.
The book’s basic treatise could be summarized thus: a nation’s economic fortunes rise or fall based on a wide variety of variables, typically due to domestic actions and often not those promoted by conventional wisdom. Over the course of the book, Beattie rejects many oft-blamed reasons for nations staying poor: religion, culture, natural resources and other such stalwarts. His reasoning is frequently compelling, rarely relying on abstract economic theory, instead elucidating his point through provocatively eye-opening examples.