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The Paradox of Plenty: Oil Booms and Petro-States (Studies in International Political Economy) - Hardcover
The Paradox of Plenty explains why, in the midst of two massive oil booms in the 1970s, oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia chose common development paths and suffered similarly disappointing outcomes. Meticulously documented and theoretically innovative, this book illuminates the manifold factors—economic, political, and social—that determine the nature of the oil state, from the coherence of public bureaucracies, to the degree of centralization, to patterns of policy-making.
Karl contends that oil countries, while seemingly disparate, are characterized by similar social classes and patterns of collective action. In these countries, dependence on petroleum leads to disproportionate fiscal reliance on petrodollars and public spending, at the expense of statecraft. Oil booms, which create the illusion of prosperity and development, actually destabilize regimes by reinforcing oil-based interests and further weakening state capacity.
Karl's incisive investigation unites structural and choice-based approaches by illuminating how decisions of policymakers are embedded in institutions interacting with domestic and international markets. This approach—which Karl dubs "structured contingency"—uses a state's leading sector as the starting point for identifying a range of decision-making choices, and ends by examining the dynamics of the state itself.
Karl contends that oil countries, while seemingly disparate, are characterized by similar social classes and patterns of collective action. In these countries, dependence on petroleum leads to disproportionate fiscal reliance on petrodollars and public spending, at the expense of statecraft. Oil booms, which create the illusion of prosperity and development, actually destabilize regimes by reinforcing oil-based interests and further weakening state capacity.
Karl's incisive investigation unites structural and choice-based approaches by illuminating how decisions of policymakers are embedded in institutions interacting with domestic and international markets. This approach—which Karl dubs "structured contingency"—uses a state's leading sector as the starting point for identifying a range of decision-making choices, and ends by examining the dynamics of the state itself.
"synopsis" may belong to another edition of this title.
About the Author:
Terry Lynn Karl is Associate Professor of Political Science and Director of the Center for Latin American Studies at Stanford University.
Review:
"After benefiting from the largest transfer of wealth ever to occur without war, why have most oil-exporting developing countries suffered from economic deterioration and political decay? [Karl's] complex argument offers a sophisticated cross-cultural reply to this question, focusing on the capital-deficit countries of Algeria, Indonesia, Iran, Nigeria, and Venezuela. Though a Latin American specialist, Karl understands the Algerian and Iranian encounters with oil and has insights to offer all those who study Middle Eastern oil states - as well as those that lead them." -- Middle East Quarterly, Issue 12/98
"Brings new theoretical and methodological insights...merits the close attention of students of rentier states...As a bonus, Karl contributes to the literature on the structure-agency problem, arguing for what she calls 'structured contingency' or the highly biased preference of certain types of decisions. The Paradox of Plenty, in any respect, deserved to be placed at the top of our reading lists and should become a staple in courses on political and economic development." -- David Waldner, University of Virginia, quoted in MESA Bulletin, n. 32, 1998
"Karl clearly understands and explains . . . that a period of . . . high prices [is[ . . . as damaging as a period of . . . low ones." -- Modern African Studies
"Karl understands the Algerial and Iranian encounters with oil and has insights [for] . . . those who study Middle Eastern oil states." -- Middle East Quarterly
"The implications Karl draws from this [story]are provocative...In what is perhaps the most important contribution a book can make, Karl provides a number of interesting propositions and hypotheses that can be empirically tested. If done correctly, such an exercise could go a long way toward specifying in exacting terms the extent to which politicians' actions are constrained... Her observations regarding democracy are important... Karl articulates a very clear set of hypotheses that lend themselves to serious empirical examination over a broad set of cases. Until we are able to specify more clearly the interaction between structure and agency, concepts will remain too slippery, arguments will remain unfalsifiable, and practical answers, which are so badly needed, will remain out of reach. Terry Lynn Karl's book, The Paradox of Plenty: Oil Booms and Petro-States, pushes the debate in the right direction." -- David Brown, Rice University, quoted in Comparative Political Studies, April, 1998
"This . . . book promises to redefine the debate on the rentier state and to draw . . . attention [to] . . . comparative politics." -- Middle East Journal
"This is a stimulating and thought provoking book." -- Latin American Studies
"Thorough, knowledgeable and convincing...worth reading." -- George Philip, London School of Economics, quoted in Modern African Studies, 36:2, 1998
"[This book] . . . deserves to be placed at the top of our reading lists." -- MESA Bulletin
"Brings new theoretical and methodological insights...merits the close attention of students of rentier states...As a bonus, Karl contributes to the literature on the structure-agency problem, arguing for what she calls 'structured contingency' or the highly biased preference of certain types of decisions. The Paradox of Plenty, in any respect, deserved to be placed at the top of our reading lists and should become a staple in courses on political and economic development." -- David Waldner, University of Virginia, quoted in MESA Bulletin, n. 32, 1998
"Karl clearly understands and explains . . . that a period of . . . high prices [is[ . . . as damaging as a period of . . . low ones." -- Modern African Studies
"Karl understands the Algerial and Iranian encounters with oil and has insights [for] . . . those who study Middle Eastern oil states." -- Middle East Quarterly
"The implications Karl draws from this [story]are provocative...In what is perhaps the most important contribution a book can make, Karl provides a number of interesting propositions and hypotheses that can be empirically tested. If done correctly, such an exercise could go a long way toward specifying in exacting terms the extent to which politicians' actions are constrained... Her observations regarding democracy are important... Karl articulates a very clear set of hypotheses that lend themselves to serious empirical examination over a broad set of cases. Until we are able to specify more clearly the interaction between structure and agency, concepts will remain too slippery, arguments will remain unfalsifiable, and practical answers, which are so badly needed, will remain out of reach. Terry Lynn Karl's book, The Paradox of Plenty: Oil Booms and Petro-States, pushes the debate in the right direction." -- David Brown, Rice University, quoted in Comparative Political Studies, April, 1998
"This . . . book promises to redefine the debate on the rentier state and to draw . . . attention [to] . . . comparative politics." -- Middle East Journal
"This is a stimulating and thought provoking book." -- Latin American Studies
"Thorough, knowledgeable and convincing...worth reading." -- George Philip, London School of Economics, quoted in Modern African Studies, 36:2, 1998
"[This book] . . . deserves to be placed at the top of our reading lists." -- MESA Bulletin
"About this title" may belong to another edition of this title.
- PublisherUniversity of California Press
- Publication date1997
- ISBN 10 0520071689
- ISBN 13 9780520071681
- BindingHardcover
- Number of pages380
- Rating
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