HISTORY 250 Lecture 24: Poverty
9 Dec 2016
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Ww rostow"s (cid:373)oder(cid:374)izatio(cid:374) theor(cid:455) a(cid:374)d marti(cid:374) wolf"s glo(cid:271)alizatio(cid:374) theor(cid:455: everyone can get rich if they modernize, compare to horatio alger. If modernization theory was true, you would predict that per capita gdp might converge. Nigeria: one of the most populous countries in the planet, 15% of black people in the world live here, 1960: nigeria becomes independent, 1958: oil starts flowing in nigeria. Seems to be a very good thing. Gdp per capita rises some but drops and is still fairly low still: one problem is that oil does not accrue to people in the form of wages. It does(cid:374)"t take a lot of la(cid:271)or to (cid:373)ai(cid:374)tai(cid:374) a(cid:374) oil i(cid:374)dustr(cid:455) Less than 0. 1% of nigerians employed in oil: state revenue could potentially support citizens through infrastructure, jobs, etc. Federal revenues from oil is almost 100% Frederi(cid:272)k cooper: (cid:862)spigot e(cid:272)o(cid:374)o(cid:373)ies(cid:863) ha(cid:448)e a high likelihood of leadi(cid:374)g to (cid:862)gatekeeper. Just running itself with its share of oil states(cid:863)
