The Conquering of the 'Resource Curse' by Private Enterprise and Private Property
Article from: OGEL 3 (2004), in Taxation
Abstract
There is an intimate linkage between the process of industrialisation and the possession of a secure energy source. In Europe both of these incidents were connected to the institution of private property. However this is not to say that private property is an essential component of industrialisation since until the 1980s the Soviet Union, at that time the world's second economic power, had developed much of its industrial capacity and its great oil and gas industry according to the methods established in the Five Year Plan and by means of the Command Economy. Nevertheless it is ...