Comment by scrollaway
17 hours ago
“The resource curse” is what you’re looking for. There’s a lot of counter examples - Norway is the odd one out.
17 hours ago
“The resource curse” is what you’re looking for. There’s a lot of counter examples - Norway is the odd one out.
I think the resource curse didn't apply to Norway because they had an established post-industrial economy for hundreds of years before they got into oil exporting (they didn't even start drilling until the 1960s, 50 years after Venezuela or the Arab states).
While being an established post-industrial economy is part of it, Norway was also keenly aware of the resource curse at that point. The "Dutch disease" comes from what happened when the Dutch, a liberal democracy, found oil in the 1950s — just a little before Norway did.
A lot is thanks to Farouk Al-Kasim [1], who helped develop the fundamental plan for Norway's petroleum industry. As far I know, his task group's plan, developed while at the Department of Industry, was essentially accepted wholesale by the government. Part of it was ensuring the government retained control, and another part of it was ensuring oil revenue was carefully managed rather than flooding every level of society and government.
[1] https://archive.ph/lEYl7
Or even the USA historically. Pre 1900s, America was a country of continual economic crises, and fractured politics.
It was sitting at the time in the latest supply of easily exploited natural resources in the world, yet somehow could not pay its troops pensions lost Civil war, could not keep its strategic oil supply from being raided by the executive branch corruption, and could not keep it plutocrats from directing military action for the sake of bananas of all things.
|Or even the USA historically. Pre 1900s, America was a country of continual economic crises, and fractured politics.
Have you read about the US post-1900? I think you can leave off pre 1900s…