This Tiny Country Built the Laziest Economy in the World

Explains how heavy welfare funded by oil can weaken diversification and long-run growth.

Welfare stateExplainereconomic diversificationexport diversificationfiscal sustainabilityoil reserves depletionresource cursesubsidized housing

Recommended by

• Economics Explained · 2023-10-05

Related

• How China Is Restarting Its Economy — Economics Explained
• Living Paycheck to Paycheck? So Is Everyone Else — Economics Explained
• Australia May Have Just Solved The Housing Crisis — Economics Explained
• How Old Money Kills Economies — Economics Explained
• Why Argentina Wants the World’s Corrupt Billionaires — Economics Explained
• What Happens When AI Is Free ... South Korea Tried It — Economics Explained