Friday, April 3, 2009

EITI´s unacceptable principle.

The Extractive Industries Transparency Initiative states as its 2nd EITI Principle the following:

“We affirm that management of natural resource wealth for the benefit of a country’s citizens is in the domain of sovereign governments to be exercised in the interests of their national development.”

That, to me, a resource cursed citizen, is an unacceptable principle.

I hold that the individual citizens will always be better, on average, at making the most out of any resource blessings than any government managing all of them.