Aka "Dutch disease"
> coined in 1977 by The Economist to describe the decline of the manufacturing sector in the Netherlands after the discovery of the large Groningen natural gas field in 1959
> coined in 1977 by The Economist to describe the decline of the manufacturing sector in the Netherlands after the discovery of the large Groningen natural gas field in 1959
When billions are raining from the sky, whether you do good work or not, the rational plan is to fight over those free resources, rather than work to create new ones.