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Saving Iraq From Its Oil

Author: Arvind Subramanian
July/August 2004
Foreign Affairs

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Of all the pressing questions facing Iraq today, perhaps the most important in the long run is what to do with the country's oil. Vast wealth from natural resources can often be a curse, not a blessing, corrupting a nation's political and economic institutions and impeding the growth of democracy. There is only one way for Iraq to resist the oil curse: by handing over the proceeds directly to the Iraqi people.

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