Professor Stiglitz did review the role of political dysfunction such as corrupt and undemocratic governments in the resource curse and antidotes for them in the 3rd, 4th, and 5th paragraph.
He then argued that these antidotes are necessary, not sufficient. Resources-rich countries need a strategy to negotiate with MNCs to gain the biggest price for their resources and use the revenue to industrialize their economies.
Uncorrupt and democratic governments are not necessarily wise ones. And professor Stiglitz gave them his advices for free. He definitely should be proud of his Nobel prize.
Is it any wonder that economics is in such sorry state that a critic of Nobel laureate even can read a non-technical article right?
Yes, professor Johnson is too hostile against American banks.
He should restrain his criticism of the institutional flaws in the financial system until the loss is really bigger and taxpayers actually pay the price.
Let the disease kills, then take the bill, and forget about the vaccine!
Concise and excellent! I'm wondering that whether Republican presidents naively made the wrong choice or willfully bequeathed a daunting task for Democrats?
From Resource Curse to Blessing
Sorry for typing mistake, I should have written CAN NOT read!
From Resource Curse to Blessing
Professor Stiglitz did review the role of political dysfunction such as corrupt and undemocratic governments in the resource curse and antidotes for them in the 3rd, 4th, and 5th paragraph.
He then argued that these antidotes are necessary, not sufficient. Resources-rich countries need a strategy to negotiate with MNCs to gain the biggest price for their resources and use the revenue to industrialize their economies.
Uncorrupt and democratic governments are not necessarily wise ones. And professor Stiglitz gave them his advices for free. He definitely should be proud of his Nobel prize.
Is it any wonder that economics is in such sorry state that a critic of Nobel laureate even can read a non-technical article right?
Finance’s Crisis of Legitimacy
Yes, professor Johnson is too hostile against American banks.
He should restrain his criticism of the institutional flaws in the financial system until the loss is really bigger and taxpayers actually pay the price.
Let the disease kills, then take the bill, and forget about the vaccine!
How Long for Low Rates?
Does it matter? No, ideology doesn't!
The First World’s Fiscal Follies
Concise and excellent! I'm wondering that whether Republican presidents naively made the wrong choice or willfully bequeathed a daunting task for Democrats?