6/8/2023 0 Comments False Economy by Alan BeattieArgentina, meanwhile, has spent much of the past 15 years as possibly the most unreliable sovereign debtor in the world.īeattie is a former Bank of England economist and world trade editor at the Financial Times so he is well qualified to theorise on why some countries thrive while others fail – one of the biggest questions in economics. The downturn left Greece teetering on the verge of collapse while Spain and Ireland both struggled. This week, we look at Alan Beattie’s book, False Economy: A Surprising Economic History of the World, which examines this issue and discusses what the world’s poorer nations can do to catch up with the rest.ĭuring the most recent global financial crisis, some countries felt the heat more than others. Sadly, it has become an accepted cost of capitalism that, on both micro- and macroeconomic levels, some people lose while others gain. The inequitable distribution of global wealth is no new phenomenon.
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