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throwaway27448yesterday at 8:25 PM3 repliesview on HN

What are the counterexamples? Maybe Nigeria?

EDIT: yes, also Iraq and Venezuela


Replies

GeneralMayhemyesterday at 8:58 PM

Norway is pretty much the only country with oil wealth that can reasonably be considered well run (unless you count Canada or the US, which, while resource-rich, have a lot of other things going on and aren't dependent on their petroleum resources).

Of the other countries where petroleum is >10% of the national economy, I think Norway might be the only one that isn't a brutal dictatorship, a failed state, or both?

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scrollawayyesterday at 8:29 PM

“The resource curse” is what you’re looking for. There’s a lot of counter examples - Norway is the odd one out.

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cyberaxyesterday at 8:29 PM

Honestly, pretty much every other resource-rich country: Russia, Saudi Arabia, Iran, Iraq, Venezuela, ...

Norway is an outlier.

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