Resource Curse Thesis
Ten years from now, twenty years from now, you will see: oil will bring us ruin … Oil is the Devil’s excrement. —Venezuelan politician Juan Pablo Pérez Alfonzo, one of the founders of OPECThe idea that natural resources might be more an economic curse than a blessing began to emerge in the 1980s. In this light, the term resource curse thesis was first used by Richard Auty in 1993 to describe how countries rich in natural resources were unable to use that wealth to boost their economies and how, counter-intuitively, these countries had lower economic growth than countries without an abundance of natural resources. Numerous studies, including one by Jeffrey Sachs and Andrew Warner, have shown a link between natural resource abundance and poor economic growth. This disconnect between natural resource wealth and economic growth can be seen by looking at an example from the petroleum-producing countries. From 1965 to 1998, in the OPEC countries, gross national product per capita growth decreased on average by 1.3%, while in the rest of the developing world, per capita growth was on average 2.2%. Some argue that financial flows from foreign aid can provoke effects that are similar to the resource curse.
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Famous quotes containing the words resource, curse and/or thesis:
“Your kind doesn’t just kill men. You murder their spirits, you strangle their last breath of hope and freedom, so that you, the chosen few, can rule your slaves in ease and luxury. You’re a sadist just like the others, Heiser, with no resource but violence and no feeling but fear, the kind you’re feeling now. You’re drowning, Heiser, drowning in the ocean of blood around this barren little island you call the New Order.”
—Curtis Siodmak (1902–1988)
“The curse of hell upon the sleek upstart
That got the Captain finally on his back
And took the red red vitals of his heart
And made the kites to whet their beaks clack clack.”
—John Crowe Ransom (1888–1974)
“Some have said that the thesis [of indeterminacy] is a consequence of my behaviorism. Some have said that it is a reductio ad absurdum of my behaviorism. I disagree with this second point, but I agree with the first. I hold further that the behaviorism approach is mandatory. In psychology one may or may not be a behaviorist, but in linguistics one has no choice.”
—Willard Van Orman Quine (b. 1908)