Posted by: Dirk | April 18, 2007

Petropolitics

In a recent article in the NYT Magazine Thomas Friedman comes up with:

the First Law of Petropolitics: The price of oil and the pace of freedom always move in opposite directions in states that are highly dependent on oil exports for their income and have weak institutions or outright authoritarian governments.

His analysis is straight to the point, a very interesting read. If I remember it right, almost none of this was taught at my university. Studying Economics with specialization in development economics I wonder why not. Maybe people treated oil (energy) at low prices as given. But still, I would guess that Petropolitics is not part of the curriculum.

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