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The Oil Curse: How Petroleum Wealth Shapes the Development of Nations

Thursday, March 1, 2012 8:00 AM to 9:15 AM

The Oil Curse: How Petroleum Wealth Shapes the Development of Nations


Countries that are rich in petroleum have less democracy, less economic stability, and more frequent civil wars than countries without oil. What explains this oil curse? And can it be fixed?

In The Oil Curse, Michael L. Ross, a professor of political science at UCLA, traces this phenomenon back to the 1970s, when oil prices soared and governments across the developing world seized control of their countries' oil industries.

He explains why why oil wealth typically creates less economic growth than it should; why it produces jobs for men but not women; and why it creates more problems in poor states than in rich ones.

Speaker: Michael L. Ross


Carnegie Council for Ethics in International Affairs
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March 2012
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