Post by Iain Dooley on Jan 1, 2017 10:10:40 GMT
I'm reading a book called "Why Australia Prospered".
In the opening chapter it discusses the fact that Australia is a counter example to the resource curse hypothesis however reading the Wikipedia page on the resource curse it seems our dependence on export lead growth over the past 20 years or so may be changing that.
There is a lot of orthodox economics on the page but I find this discussion interesting anyway and I'm sure there is work here upon which we could base a sensible policy where we export sufficiently to justify our import requirements and consume everything we can locally or something like that (which reactionary neoliberals would probably call protectionism ...)
Also it's interesting to read this article in the context of the books by John Perkins on his work as an "economic hit man" - that is, there seems to be an argument being made that a resource curse is somehow a naturally organically occurring phenomenon where as it may well be the case that the situation has been deliberately engineered in many cases specifically for the economic advantage of the US and her allies (us included):
en.m.wikipedia.org/wiki/Resource_curse
In the opening chapter it discusses the fact that Australia is a counter example to the resource curse hypothesis however reading the Wikipedia page on the resource curse it seems our dependence on export lead growth over the past 20 years or so may be changing that.
There is a lot of orthodox economics on the page but I find this discussion interesting anyway and I'm sure there is work here upon which we could base a sensible policy where we export sufficiently to justify our import requirements and consume everything we can locally or something like that (which reactionary neoliberals would probably call protectionism ...)
Also it's interesting to read this article in the context of the books by John Perkins on his work as an "economic hit man" - that is, there seems to be an argument being made that a resource curse is somehow a naturally organically occurring phenomenon where as it may well be the case that the situation has been deliberately engineered in many cases specifically for the economic advantage of the US and her allies (us included):
en.m.wikipedia.org/wiki/Resource_curse