A Failed State in Latin America?

A Failed State in Latin America?

Venezuela is at the mercy of its fluids. For a country that depends on oil for 95 percent of its exports, the prolonged drop in the price of crude has been a serious financial blow. If nothing else, though, Venezuela should be able to use its oil resources to keep the...
Africa’s Success Story

Africa’s Success Story

The most impressive person I met in Botswana barely said a word. She was an older woman, small in stature. We were sitting next to each other at a table during lunch at a conference about Botswana’s economic model. In a quiet voice, she told me that she was a former...
Foreign Aid Is Afghanistan’s Resource Curse

Foreign Aid Is Afghanistan’s Resource Curse

Rebellious American colonists once proclaimed that “taxation without representation is tyranny.” A corollary is more significant in the modern world: “government without taxation results in tyranny.” This phenomenon is primarily observed in...