An economic Manifesto for the oil exporting countries of the Persian Gulf
The oil-exporting countries of the Persian Gulf have failed economically and socially. It is time for a radical new approach to managing oil revenues while oil and gas reserves last. We propose an approach to cut the level of oil revenues available to governments to zero while incorporating a forma...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2012-04-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9874 |
| _version_ | 1811172363030495232 |
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| author | Hossein Askari Faranghees Abbas George Jabbour Dohee Kwon |
| author_facet | Hossein Askari Faranghees Abbas George Jabbour Dohee Kwon |
| author_sort | Hossein Askari |
| collection | DOAJ |
| description |
The oil-exporting countries of the Persian Gulf have failed economically and socially. It is time for a radical new approach to managing oil revenues while oil and gas reserves last. We propose an approach to cut the level of oil revenues available to governments to zero while incorporating a formal "Oil Fund for All Generations". Others have proposed and implemented oil funds but in our proposal the government would (in time) lose all access to oil revenues; by taking easy money away from governments and rulers, waste, corruption, military expenditures and wars will be reduced, there will be better chance of adopting and implementing rational economic policies, and equity across generations may be enhanced. Hope may be slowly restored to a region that has lost hope.
JEL Codes: O11, O13, O53, Q32, Q33
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| first_indexed | 2024-04-10T17:29:50Z |
| format | Article |
| id | doaj.art-053a498c6bda4916adfd372a5a4325fe |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:29:50Z |
| publishDate | 2012-04-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-053a498c6bda4916adfd372a5a4325fe2023-02-03T16:48:28ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432012-04-015923910.13133/2037-3643/9874An economic Manifesto for the oil exporting countries of the Persian GulfHossein AskariFaranghees AbbasGeorge JabbourDohee Kwon The oil-exporting countries of the Persian Gulf have failed economically and socially. It is time for a radical new approach to managing oil revenues while oil and gas reserves last. We propose an approach to cut the level of oil revenues available to governments to zero while incorporating a formal "Oil Fund for All Generations". Others have proposed and implemented oil funds but in our proposal the government would (in time) lose all access to oil revenues; by taking easy money away from governments and rulers, waste, corruption, military expenditures and wars will be reduced, there will be better chance of adopting and implementing rational economic policies, and equity across generations may be enhanced. Hope may be slowly restored to a region that has lost hope. JEL Codes: O11, O13, O53, Q32, Q33 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9874Oil |
| spellingShingle | Hossein Askari Faranghees Abbas George Jabbour Dohee Kwon An economic Manifesto for the oil exporting countries of the Persian Gulf PSL Quarterly Review Oil |
| title | An economic Manifesto for the oil exporting countries of the Persian Gulf |
| title_full | An economic Manifesto for the oil exporting countries of the Persian Gulf |
| title_fullStr | An economic Manifesto for the oil exporting countries of the Persian Gulf |
| title_full_unstemmed | An economic Manifesto for the oil exporting countries of the Persian Gulf |
| title_short | An economic Manifesto for the oil exporting countries of the Persian Gulf |
| title_sort | economic manifesto for the oil exporting countries of the persian gulf |
| topic | Oil |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/9874 |
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