How Population Scarcity Shaped Africa

Ethnic violence, the Resource Curse and civil wars are often quoted to explain the development deficit in Africa. But a relatively little-known factor that can explain Africa’s position today is its historically low population density and its eventual role in facilitating the slave trade . Africa was historically a chronically underpopulated continent. In 1900, the … Continue reading How Population Scarcity Shaped Africa

The Dutch Disease

In the 1960s, the discovery and development of Europe’s largest natural gas field in the Netherlands triggered an unexpected structural shift in the Dutch economy. The surge in export revenues brought in large inflows of foreign currency, leading to an appreciation of the Dutch guilder. A stronger currency made Dutch manufactured goods more expensive in … Continue reading The Dutch Disease