4 ms·
When a government... 1) owns a profitable state company 2) that does not require the cooperation of the population in order to be profitable ...the result is
by 29athrowaway 5y ago
When a government...
1) owns a profitable state company
2) that does not require the cooperation of the population in order to be profitable
...the result is a dictatorship.
https://www.youtube.com/watch?v=rStL7niR7gs https://www.youtube.com/watch?v=rStL7niR7gs
- lucb1e 5y agoThat sounds a lot like Norway though, didn't they have this massive amount of money from some natural resource (oil I think) and made a big pension fund for the population? There are obviously also counter-examples, but a currently-democratic country finding a new way to make money from natural resources, I wouldn't expect we have a large enough sample size to really say anything about that with certainty. Edit: The Norway thing being (for those interested): > [The oil fund] was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. It has over US$1.3 trillion in assets, including 1.4% of global stocks and shares, making it the world’s largest sovereign wealth fund. In May 2021, it was worth about $248,000 per Norwegian citizen. https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...
- 29athrowaway 5y agoBecause oil was discovered in modern times when Norway was already a developed society with strong institutions and an educated populace. In contrast, El Salvador right now is still fighting barbarism and anarchy.