Abstract
There is a well-documented “natural resource curse” whereby the presence of immobile natural resources leads to weaker economic performance and a deterioration in the quality of economic institutions and governance. We propose the novel hypothesis that a similar curse exists for historic resources such as the Egyptian Pyramids, Roman Colosseum, and Gettysburg Battlefield. These captive wealth-producing resources are also immobile and cannot flee from oppressive or inefficient government policies, enabling governments to levy high taxes, impose burdensome regulations, and expropriate property for preservation. Historic resources are therefore also associated with weaker economic performance, increased government corruption, and lower economic freedom.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
