Daniel Yergin - The author points to the impact of what he called...

The author points to the impact of what he called Dutch disease, where the discovery of found wealth from a particular commodity causes a culture to atrophy with respect to work ethic and broader development. Continuing wealth from the single commodity is taken for granted. The government, flush with wealth, is expected to be generous. When the price of that commodity drops, a government which would remain in power dare not cut back on this generosity.

Daniel Yergin

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Daniel Yergin Quotes

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The author points to the impact of what he called Dutch disease, where the discovery of found wealth from a particular commodity causes a culture to atrophy with respect to work ethic and broader development. Continuing wealth from the single commodity is taken for granted. The government, flush with wealth, is expected to be generous. When the price of that commodity drops, a government which would remain in power dare not cut back on this generosity. Daniel Yergin

They Said So®

Keywords

author points impact called dutch disease discovery found wealth commodity culture atrophy respect work ethic broader development continuing single granted government flush expected generous price drops remain power dare cut back generosity

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