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Book Review: How Rich Countries Got Rich and Why Poor Countries Stay Poor

Zing

One of the best books I've ever read is definitely "How Rich Countries Got Rich and Why Poor Countries Stay Poor" by Erik S. Reinert.

Erik S. Reinert is Norwegian economist who specialized in Development Economics and Economic History. In this book, he tried to explain heavy economical theories with simple words for the general public who doesn't have higher level knowledge in economics whatsoever and those theories are actually hiding mysterious truth about the topic of the book.

From the very first chapter, you'd surely notice that he blames International Organization for such inequal economic situation between the countries. So he explained how international organizations such as IMF, and ADB works, what's main goal of their specified plans for a certain countries etc,. In fact, he claimed that there is no specific agenda or plan for a country but they do have single plan and they force it to apply to the countries.

Moving on, he'll explain both traditional and modern aspects as well theories of economics and their cons and pros. To fully understand the chapter, a reader may need to have basic knowledge in terms of economics. However, I liked the way he linked almost each theories with real examples. One of the instances was about Mongolia and he explained how inappropriate political transmission could affect to economics and move the country back in decades.

Lastly, the main purpose of his book as I understood is to help people to realize that what they see is not exactly what it is. Even tho we have thousands of economic theories, and hundreds of international financial organizations, we still have 3rd world countries including Mongolia. Those countries still struggling to rescue their economy and seeking a little help from big players. But is it worth it?

I gotta say that I've read quiet a lot books related with economics yet none of em' was as clear as this book nor as interesting as this. If you're in to economics, I'm highly suggesting to read it.

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