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Reverse the Curse

How Can Oil Help the Poor?

Authors: Karol Boudreaux, Tiernan Mennen, Larry Diamond, and Jack Mosbacher
January/February 2014
Foreign Affairs


Larry Diamond and Jack Mosbacher ("Petroleum to the People," September/October 2013) rightly observe that the coming oil boom in Africa is, paradoxically, a frightening prospect for the continent's poor and marginalized. If the so-called resource curse holds, this new surge of easy money will indeed "poison the prospects for development," fueling corruption, inflation, and authoritarian regimes.

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