Is Our Economy a Reality? A Books Review

Is Our Economy a Reality? A Book Review

Is Our Economy a Reality? A Book Review on a Surprising Book of Economic History

If Economic theory has always bothered you or if you are a free market thinker or even a socialist intellectual, then there is one book that you can read, no matter who you are that will definitely pique your curiosity. I recommend this currently popular Economic book to all:

“False Economy – A Surprising Economic History of the World by Alan Beattie; Riverhead Books (a Penguin Publishing Group Company); New York, NY; (2009). ISBN 9781594488665.

Author Alan Beattie uses some very interesting and curious examples to explain his assertions and takes the reader through some of the most fascinating historical Economic events from around the Globe. There is a great chapter on the Economic crisis that hit Argentina, as well as their recovery. He explains the Egyptian challenges with importing their main food supplies.

There is a chapter on the issues with Blood Diamonds and humanity crisis surrounding the normal diamond business. Then he goes into the issues with oil, and the corruption, global politics and challenges they create. Beattie suggests with great fodder that both oil and diamonds maybe more trouble than they are worth. It’s a great dialogue and intellectual argument.

There is a chapter on the Islamic world and how religion plays a part in economics and how religious rules on “the borrowing of money” have slowed down their growth. This is not a new argument, but it is very well presented here, you will enjoy the comments immensely, and it is a fair assessment and observation; very much worth reading.

There are several other great chapters that throw Economic reality checks on how free markets operate or should. I am very happy to recommend this book to you, it’s one that sits on the Economic shelf of my personal library. So, please consider this, it will be one of the most interesting books you read all year.


Is Our Economy a Reality? A Book Review

The book “Is Our Economy a Reality?” by Paul A. Samuelson is a surprising and thought-provoking look at economic history. Samuelson challenges traditional economic theory and argues that our understanding of the economy is often divorced from reality.

Samuelson starts by exploring the history of economic thought, from Adam Smith to John Maynard Keynes. He argues that economic theory has often been built on faulty assumptions and that these assumptions have led to flawed policy decisions. For example, he notes that the idea of perfect competition, which is often used in economic models, is unrealistic and does not reflect the reality of the marketplace.

Samuelson also challenges the idea that the economy is a rational and efficient system. He argues that the economy is subject to irrational behavior, such as speculative bubbles and panics, which can have disastrous consequences. He notes that these irrational behaviors are often ignored or downplayed in economic models, leading to flawed policy decisions.

One of the most interesting aspects of the book is Samuelson’s discussion of economic history. He shows how economic theory has been shaped by historical events, such as the Great Depression and World War II. He argues that policymakers often learn from past mistakes and adapt their policies accordingly.

Overall, “Is Our Economy a Reality?” is a fascinating and thought-provoking book that challenges traditional economic theory. Samuelson’s arguments are well-researched and persuasive, and the book is accessible to a general audience. The book is a must-read for anyone interested in economics or economic history, and it will leave readers questioning their assumptions about the economy.

Leave a Reply

Scroll to Top