Zócalo Public Square (Video)

Why Is Oil Wealth a Bad Thing?


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UCLA political scientist Michael Ross, author of The Oil Curse: How Petroleum Wealth Shapes the Development of Nations, explains why oil wealth is bad for developing countries: because of the extraordinary power and kinds of revenue it generates for governments, and because of the industry's lack of transparency. It's not a coincidence that the world's most volatile countries are rich in oil, he argues.
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Zócalo Public Square (Video)By Zocalo Public Square