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The Oil Curse: How Petroleum Wealth Shapes the Development of Nations

One may argue three law-like generalizations in political science: “no bourgeois, no democracy,” “democracies do not go to war with each other,” and “natural resources are a curse.” Although each of these highly contested arguments is important, the last one has the broadest impact—the negative effects of oil, natural gas, and mineral production go beyond authoritarianism and have economic, military, and societal consequences.

 

One may argue three law-like generalizations in political science: “no bourgeois, no democracy,” “democracies do not go to war with each other,” and “natural resources are a curse.” Although each of these highly contested arguments is important, the last one has the broadest impact—the negative effects of oil, natural gas, and mineral production go beyond authoritarianism and have economic, military, and societal consequences. Recently, some important publications have challenged the “resource curse” argument, creating doubts about these negative effects. In this regard, Michael Ross’s book is an extremely timely work.

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