Razzak, Weshah (2006): Iraq: Private ownership of oil and the quest for democracy.
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I argue that state-ownership and state-management of oil on behalf of the Iraqi people is not conducive to democracy and inconsistent with the principles of free market. I also argue that it can adversely affect economic development and might further impoverish the average Iraqi citizen. To resolve the problems, this note proposes a change to the “political” rules; i.e., change the Iraqi constitution, and provides an economic strategy to transfer oil wealth to the Iraqi people.
|Item Type:||MPRA Paper|
|Original Title:||Iraq: Private ownership of oil and the quest for democracy|
|Keywords:||Oil; private ownership; development|
|Subjects:||Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy > Q43 - Energy and the Macroeconomy
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation > Q32 - Exhaustible Resources and Economic Development
P - Economic Systems > P1 - Capitalist Systems > P14 - Property Rights
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q4 - Energy > Q48 - Government Policy
|Depositing User:||Weshah Razzak|
|Date Deposited:||03. Oct 2006|
|Last Modified:||21. Feb 2013 01:07|
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