Extreme Economies: Survival, Failure, Future - Lessons from the World's Limits (2019)

I was honoured with a gifted copy of this book as my sister was a research assistant for the author, Richard Davies. I'm reviewing it, as with all my reviews, primarily as a personal record of my thoughts of the book and secondly to share my impressions with others who seek to read or may have already read the book in order to provoke constructive discussion. This non-fiction work was published by Transworld Publishers, Bantam Press (Penguin). I have a hardback copy, which comprises of 337 pages (without Notes and References) although the book is also available as an e-book and audiobook. I will discuss the structure of the book as well as the writing style and recurring themes or "lessons". 

Extreme Economies: Survival, Failure, Future - Lessons from the World's Limits is divided into three main parts, as the title suggests. Each part uses three case studies to illustrate distinct extreme scenarios. The first part explores "Survival: The Economics of Resilience", which is explored through three locations namely Aceh, Zaatari and Louisiana. The second part delves into "Failure: The Economics of Lost Potential", covering Darien, Kinshasa and Glasgow and finally, the third part examines the "Future: The Economics of Tomorrow", taking in example Akita, Tallinn and Santiago. Therefore we are given nine core chapters to discover the workings of poor and successful economies around the world. The heart of the book is dedicated to a collection of photos that Davies took and collected during his travels researching the locations described in each chapter. They are vivid, high-quality photos that add a valuable visual element to his detailed descriptions.

In my brief readings of texts related to economics, I have felt that it is a somewhat "cut-throat" field of study where humans are objects required to produce desired financial results and it only wants to know the statistics and numerical value of things. I definitely had my own bias against the field for such reasons and was thankfully pleasantly surprised when this presumably stats-and-figures book managed to maintain a human connection and relevance. Davies does this primarily by incorporating valuable interviews concerning the economic condition of a place with locals. 

Something I particularly liked about Davies' presentation of an economic scenario is the historical context he provides of the places he visited in order for us to better understand how they became what they are today. I found these historical "flashbacks" to be both interesting and informative. These dips into history are also rich and varied as this research offers a broad and international analysis, since the focus areas are dotted in widely different points in the world. 

I found that Davies actively seeks to find a balance to present a fair analysis of the positives and negatives of each scenario, highlighting where they counter-balance each other, or not. Significantly, Davies also explores the value and utility of informal economies and markets, which are often overlooked or even frowned upon. Often this insight opens up a window into human resilience, creativity and resourcefulness. 

To conclude, I found that it was easy and fascinating to read even for someone with no economics background. If anything, I found myself recommending the book to various people I know because of its relevance and significance to our everyday lives as well as the societies we are living in. An important lesson from this research is to recognise that human bonds are vital for prosperous societies and thus economies. 

Have you read this book? What did you think of it? Comment your thoughts below, I'd love to hear what you thought. 

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