Thursday, May 05, 2005

Saving Iraq From Its Oil

Heard about this Foreign Affairs article (pdf) in Tom Friedman's The World is Flat book. Then I saw the authors on Charlie Rose last night.

Oil and mineral wealth can be bad for growth and democracy, since they tend to impede the development of institutions and values critical to open, market-based economies and political freedom: civil liberties, the rule of law, protection of property rights and political participation.
Lots of really interesting examples and insights on this topic. I highly recommend reading this.

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