By Franklin Obeng-Odoom
This e-book offers a serious research of the ‘resource curse’ doctrine and a evaluate 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 town come into life? What alterations to estate rights are oil prospecting, explorations, and construction introducing within the 21st century? How do the consequences range throughout various social sessions and spectrums? To what quantity 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, relaxation, and commercial), and estate in labour? How do those methods hook up with the full city approach in Ghana?
This e-book indicates how associations of various levels of strength have interaction 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 accomplished account of the tensions and contradictions basically sectors of the city financial system, society, and setting within the booming Oil urban and may 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
From this perspective, I do not fetishise land as a narrowly conceived ‘economic’ category separate from the institutions in which it is ‘embedded’ as it does not possess qualities that may be expressed in the formal rationality of the market. Rather, land is embedded in social and cultural institutions and norms and, thus, subject to (competing) political and moral consideration, religious beliefs, and community management (Polanyi, 2001). I further develop these features by drawing on the philosophical and empirical ideas of Henry George, David Harvey, Hossein Mahdavy, and Chibuzo Nwoke, who have extensively analysed questions of natural resources, rent, and economic development.
The present chapter attempts to close this gap. It makes the case for developing a theoretical framework of natural resources (land) and economic development that draws on Henry George’s emphasis on problems resulting from the public creation, but private capture of increased site values arising from economic development; David Harvey’s analysis of capital accumulation and its spatial expression; Hossein Mahdavy’s analysis of the state based on the radical interpretation of the concept of ‘rentier state’; and insights from Chibuzo Nwoke’s analysis of varieties of economic rent.
Finally, concluding remarks highlight key aspects of the work of George, Harvey, Mahdavy, and Nwoke and shows the conceptual tokenism in mainstream theories of natural resources and economic development. Mainstream accounts of oil and economic development Neoclassical economists have several models to explain the relationship between resource boom and economic development. One popular explanation is derived from the ‘open access exploitation thesis’, which predicts that without private and formal property rights, a resources boom will inevitably lead to widespread socio-economic problems in a resource-rich economy (Barbier, 2005, pp.