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Smart Countries, Foolish Choices

A CGS Working Paper

Authors: , Former Hayek Senior Fellow for Political Economy, and Gaurav Tiwari

Smart Countries, Foolish Choices - smart-countries-foolish-choices

Publisher Council on Foreign Relations Press

Release Date April 2008

22 pages


Intuition tells us that oil-rich countries are not friendly to the United States, and that entreprenurial—or “smart”—countries are not endowed with oil.

In this Center for Geoeconomic Studies Working Paper, the authors find a triangular relationship between oil wealth, entrepreneurial spirit, and friendliness to the United States. They confirm the idea that “oily” countries are not U.S.-friendly, in contrast to smart countries, which are friendly to the United States and do not have oil. The authors conclude that it is in the U.S. interest to support education and economic diversification in petro-states so those states can become more entrepreneurial and friendly.

More About This Publication

Amity Shlaes is a senior fellow for economic history in the Center for Geoeconomic Studies at the Council on Foreign Relations.

Gaurav Tiwari is a research associate for geoeconomics at the Council on Foreign Relations.

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