Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
False Economy summary
Alan Beattie
A Surprising Economic History of the World
16 mins
Table of Contents
False Economy
summarized in 7 key ideas
Audio & text in the Blinkist app
Key idea 1 of 7
Important choices, not fate, determined the economic state of Argentina and the United States.
Have you ever wondered why a country like the United States is a giant in the world economy, while a country like Argentina has continually struggled? As we’ll see, this was not something that happened by chance.
As a matter of fact, Argentina and the United States started out in very similar situations.
The United States officially became an independent nation when its constitution came into effect in 1789. Argentina was particularly inspired by the American revolution, and in 1816 Argentinian rebels took control of their government to establish their own independence. And as these two countries started out, both nations had similar economic outlooks based on rich agricultural promise and plenty of fertile land.
But the two paths diverged when the countries made different choices on how to develop their land.
America chose to divide their land up between skilled individuals and families. Capable farmers from Europe arrived to make the most of the opportunity, and they helped expand and settle America’s western frontier.
Conversely, Argentina decided to divide its land among a select few rich and powerful landlords. As a result, its agricultural potential was stunted because the policy failed to attract skilled laborers and farmers to develop the land.
The two nation’s paths continued to diverge following twentieth-century industrialization.
While the United States embraced the manufacturing industries and the foreign trade possibilities they presented, Argentina shut itself off in an effort to become self-sufficient. Argentina rejected the interests of foreign investors and the risky business of globalization, preferring instead to protect its government monopolies.
So, as the US economy flourished in the twentieth century, Argentina continued to seal off its manufacturing businesses by keeping out imports and heavily taxing exports. In 2001, in its efforts to be self-reliant, Argentina was forced into one of the largest government bankruptcies in history.
Want to see all full key ideas from False Economy?
Key ideas in False Economy
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is False Economy about?
False Economy (2009) offers a fresh perspective on how and why some nations of the world have become economic powerhouses and others have ended up as financial disasters. You’ll see that nations aren’t handcuffed by fate. Rather, their economic success or failure is based on the choices they make.
Best quote from False Economy
It was history and choice, not fate, which determined which became which.
—Alan Beattie
Who should read False Economy?
- Anyone interested in economics
- Readers who want to learn about the politics of money
- People interested in international business
Categories with False Economy
Books like False Economy
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked
Start growing with Blinkist now
26 Million
Downloads on all platforms
4.7 Stars
Average ratings on iOS and Google Play
91%
Of Blinkist members create a better reading habit*
*Based on survey data from Blinkist customers