By Franklin Obeng-Odoom
This booklet provides a serious research of the ‘resource curse’ doctrine and a assessment of the foreign proof on oil and concrete improvement to envision the function of oil on estate improvement and rights in West Africa’s new oil city - Sekondi-Takoradi, Ghana. It seeks solutions to the next questions: In what methods did the town come into lifestyles? What alterations to estate rights are oil prospecting, explorations, and construction introducing within the 21st century? How do the results range throughout diverse social periods and spectrums? To what volume are neighborhood and nationwide associations in a position to form, restrain, and constrain trans-national oil-related accumulation and its results on estate in land, estate in housing (residential, rest, and commercial), and estate in labour? How do those methods hook up with the total city approach in Ghana?
This booklet exhibits how associations of various levels of energy engage to manipulate land, housing, and labour within the urban, and analyses how effective, sustainable, and equitable the results of those interactions are. it's a finished account of the tensions and contradictions in general sectors of the city economic system, society, and atmosphere within the booming Oil urban and should be of curiosity to city economists, improvement economists, genuine property economists, Africanists and urbanists.
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Extra resources for Oiling the Urban Economy: Land, Labour, Capital, and the State in Sekondi-Takoradi, Ghana
119), there is formidable evidence in contemporary political economy that his ideas and method remain relevant and needed (Gaffney, 1994, 2008, 2009; Stilwell and Jordan, 2004; Stilwell, 2011, 2012a, p. 92). George laid down his theory of natural resources (land), and economic development in his stimulating book, Progress and Poverty (George, 1879). He developed the theory in The Land Question (George, 1881) and The Science of Political Economy (George, 1898). As with the physiocrats and classical political economists, George put land, labour, and capital as the factors of production.
Two explanations for this paradox regularly put forward are issues relating to volatility and ‘Dutch Disease’. The former relates to volatility of natural resource prices, which is assumed to present difficulties to endowed nations making coherent plans with resource rents (Corden and Neary, 1982). Similarly, the notion of ‘Dutch Disease’ refers to the tendency of the resources sector to crowd-out non-resource sectors. This is assumed to lead to an appreciation in the value of the national currency of the resource rich countries and hence makes its exports uncompetitive and imports cheap relative to locally produced goods, leading to local firms losing business and closing down.
As such, the state may sometimes make concessions to enhance ‘legitimation’ and secure the conditions for reproduction of the political, economic and social order (Pressman, 2001; Herbert-Cheshire and Lawrence, 2002). Even Marxist political economist James O’Connor seems to concur that the role of the state in capitalist society is contingent. According to him: Although the capitalization of nature implies the increased penetration of capital into the conditions of production . . the state places itself between capital and nature, or mediates capital and nature, with the immediate result that the conditions of capitalist production are politicized.