georgiospap

Dear prof. Sachs

I wonder if you consider the following case a "resource curse"

Since the end of WWII, Greece (actually its elites) has received various money injections. Marshal Plan, "Jacques Delors" assistance, EEC and EU money, and €300bn on cheap loans.

We have a situation with of great malfunctioning of institutions and citizens having no trust in them. We also have countless fraud cases, as well as a largely destroyed production base, since all our growth was on imports with borrowed money.

Would you consider easy money as kind of a resource curse?

But my question was about the "resource curse" :-(

Based your study on the abundance of natural resources and its grave outcomes...

Dear professor Sachs

You have written about "The curse of natural resources"

in the past decades, my country has received various money injections. Marshal Plan, EEC and EU money, and hundreds of billions on cheap loans.

All this had great consequences, similar to what you describe in your curse of natural resources work.

Would you consider easy money as kind of a resource curse?