May 6, 2008

IS IT REALLY THE DEVIL’S EXCREMENT? John Tierney reports on the “oil curse.” Plus, these thoughts on Iraq: “I still think that it might be better off today if American officials had insisted on a cure for the resource curse favored by development experts: giving oil revenues directly to citizens (perhaps through some sort of pension plan, or a scheme of payments like Alaska’s).”

I agree, and have from the beginning. Likewise Hillary Clinton, Vernon Smith, and Milton Friedman. I still wonder why nothing happened here.

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