Monday, April 11, 2011
Here's a video of Paul Collier discussing a few steps toward reversing the downward trend for the bottom billion. Note the importance of governance and the perils of "instant democracy". These have obvious implications for transitions currently underway in north Africa and the middle east. He also discusses the resource curse, and mentions "verified auctions" as a potential way to prevent backroom deals for extraction rights. The idea is that anyone interested in being a buyer or seller of the commodity must be backed by an objective third party (hence verified as a legitimate participant). The third party would presumably be an international agency.