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  • Author: Jose W. Fernandez
  • Publication Date: 12-2013
  • Content Type: Journal Article
  • Journal: Foreign Affairs
  • Institution: Council on Foreign Relations
  • Abstract: International development has moved beyond charity. Gone are the days when the United States would just spend its seemingly bottomless largess to help less fortunate or vanquished countries, as it did after World War II. International development has reached a new, globally competitive stage, bringing with it enormous strategic and economic implications for the United States in the years ahead.
  • Topic: Development, War
  • Political Geography: United States
  • Author: Mike Wenstrup
  • Publication Date: 12-2013
  • Content Type: Journal Article
  • Journal: Foreign Affairs
  • Institution: Council on Foreign Relations
  • Abstract: Scott Borgerson (“The Coming Arctic Boom,” July/August 2013) is right to argue that “Alaska should invest its considerable wealth in its underdeveloped university system, finance ambitious infrastructure projects, and create policies that attract talented immigrants and encourage them to start new businesses, such as renewable energy ventures.” Unfortunately, the recently passed Alaskan Senate Bill 21 reduces the income Alaskans receive from oil produced on public lands. Alaska has already begun to run deficits, is unable to finance university investments, and, for the fourth straight year, has frozen funding for basic classroom instruction. Oil companies have high profit margins yet pay less for extracting oil in Alaska than in Norway or countless other countries. Alaskan Governor Sean Parnell is squandering an opportunity to convert oil wealth into human and physical capital. Alaska's oil resources are finite, and the state should invest the profits now in capital development and economic diversification.
  • Topic: Development, Economics, Oil
  • Political Geography: Norway, Alaska