Discover and read the best of Twitter Threads about #petrodollars
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Skill harvesting is akin to cropping agriproducts.
You till the fertile place, select the seeds, provide exposure to sunlight, start the soil sowing process, apply fertilizers, waters, and other chemicals, wait for the germination to turn into a crop, & start harvesting.
You till the fertile place, select the seeds, provide exposure to sunlight, start the soil sowing process, apply fertilizers, waters, and other chemicals, wait for the germination to turn into a crop, & start harvesting.
Governments that invest in Human Capital have benefited a lot in terms of socio-economic development.
It is not just about making money to sustain oneself, but, liberating a human being from slavery.
The political dividends reaped from such a policy are immense!
E.g. Singapore.
It is not just about making money to sustain oneself, but, liberating a human being from slavery.
The political dividends reaped from such a policy are immense!
E.g. Singapore.
Compare #Singapore or other SE-Asian Nations with the Energy Rich Nations, which rely on #petrodollars in addition to Natural Gas/LNG Exports, such as the #GCC Nations.
The quality of economic development is completely different, in nations where knowledge capital exists
The quality of economic development is completely different, in nations where knowledge capital exists
The #ZanzibarRevolution was a “lumpen uprising” that was given leadership and strategic direction by the radical socialist / PanAfricanist Umma People’s Party led by #AbdulrahmanBabu. Source: jpanafrican.org/docs/vol1no9/A… #Babu #EastAfrica #BritishColonialism 
OPEC was formed in the 1970s and the cartel could control prices - because the global economy runs on oil, and bulk of the reserves were in the Middle East.
They figured out, Oil Demand is inelastic. People have to buy no matter what price. It’s the most dense form of energy.
They figured out, Oil Demand is inelastic. People have to buy no matter what price. It’s the most dense form of energy.
Price Elasticity if Demand in the short run was 8x.
1% cut in Oil production would lead to 8% rise in price.
But if prices are too high, then people start saving energy and demand falls.
1% cut in Oil production would lead to 8% rise in price.
But if prices are too high, then people start saving energy and demand falls.
The Green New Deal uses some legalese to describe its coalition of "frontline and vulnerable communities," says @adam_tooze.
Almost bizarre to see FDR and enviro mantel invoked for this very different coalition.
Almost bizarre to see FDR and enviro mantel invoked for this very different coalition.
The confusion at the launch over foundational enviro issues like what is the new coalition's stance on nuclear power and carbon capture is telling of how this is a different movement, says @adam_tooze.
Sanders, with his longer record, has helped reanchor these concerns.
Sanders, with his longer record, has helped reanchor these concerns.
The China Shock in the Midwest plus collapse of coal mines in Kentucky v. Corporatist smoother transition in Germany shows how much more poorly US manages adjustment process, says @adam_tooze
#Burkas are like wearing a crusifix&should b defended,said Scots leader liberal+lesbian,irresponsibly ignoring that a crusifix is a symbol of #Christianity,which holds t western civilisation,while #nijab is a symbol of oppression enforced recently in #Islam by the #Saudi #Wahhabi
#Liberals accusing #Iranian govt of"oppressing women" who must wear a lose scarf,but do not protest against the #Saudi #Wahhabi reactionary dogma,while it's creeping as political #Islam to combat western #civilisation at the end.If it's sounds like fiction,think Saudi investments
Serious problem wth "western civilisation"mental health.Giving up easily to full veil wearing wthout asking what the cover symbolises,wthout questioning why it came from archaic #Saudi #Wahhabi #Sharia #Regime by force,is👉rejection of progressive western values.Period
