The Paradox of Plenty: Oil Booms and Petro-States (Studies by Terry Lynn Karl

By Terry Lynn Karl

The Paradox of Plenty explains why, in the course of large oil booms within the Nineteen Seventies, oil-exporting governments as assorted as Venezuela, Iran, Nigeria, Algeria, and Indonesia selected universal improvement paths and suffered equally disappointing results. Meticulously documented and theoretically cutting edge, this booklet illuminates the manifold factors—economic, political, and social—that verify the character of the oil nation, from the coherence of public bureaucracies, to the measure of centralization, to styles of policy-making.

Karl contends that oil international locations, whereas likely disparate, are characterised via related social periods and styles of collective motion. In those nations, dependence on petroleum results in disproportionate monetary reliance on petrodollars and public spending, on the fee of statecraft. Oil booms, which create the appearance of prosperity and improvement, really destabilize regimes by means of reinforcing oil-based pursuits and extra weakening country capacity.

Karl's incisive research unites structural and choice-based techniques by means of illuminating how judgements of policymakers are embedded in associations interacting with household and overseas markets. This approach—which Karl dubs "structured contingency"—uses a state's best zone because the place to begin for determining quite a number decision-making offerings, and ends by way of reading the dynamics of the country itself.

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