Political Science 231 - Polit Econ of Petro-States

This is a modified version of POSC 232, The Political Economy of Development. The first half of the course is identical to 232, but the second half will have a different focus: the political economy of oil. This section will explore the extent to which oil is a “resource curse,” the neo-structuralist notion that an abundance of a natural resource, in this case oil, is detrimental for development because it distorts economic incentives (away from diversification) and distorts politics (by facilitating corruption, raising the stakes of power-holding, increasing the chance for abuse of state power, and weakening society’s capacity to hold the state accountable). We will examine these hypotheses by focusing on Venezuela, one of the world’s leading oil producers. Until the 1980s, Venezuela was considered an example of democratization. In the 1990s, Venezuela became instead a paradigmatic case of policy incoherence. In the early 2000s, under the Hugo Chávez administration, Venezuela became a case of political polarization, and some argue, rising authoritarianism. The second half of this course will assess whether the resource-curse theory provides the best account of Venezuela’s politics since the 1980s. To address this question, we will: (1) compare the resource-curse argument with other competing theories of development that might account for Venezuelan politics; and (2) compare the Venezuelan case with other cases in Latin America, Asia, the Middle East, and Africa. This course fulfills requirements for the Five College Certificates in Latin American Studies and International Relations.

Not open to students who have taken POSC 232. Admission with the consent of the instructor. Limited to 35 students. Fall semester. Professor Corrales.