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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
Verified account
@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    1. Noah Smith‏Verified account @Noahpinion Oct 16

      Today's @bopinion post is about Nigeria. I expect its conclusions will not come as a surprise to most Nigerians, but it's good for Americans to be thinking about Nigeria and its problems.https://www.bloomberg.com/view/articles/2018-10-16/how-nigeria-can-escape-the-natural-resource-curse …

      12 replies 204 retweets 302 likes
      Show this thread
    2. Noah Smith‏Verified account @Noahpinion Oct 16

      Nigeria is very dependent on oil, for its government revenues and for its foreign exchange earnings. When oil prices fall, Nigeria's people suffer.pic.twitter.com/wUwZGT2nkC

      2 replies 37 retweets 24 likes
      Show this thread
    3. Noah Smith‏Verified account @Noahpinion Oct 16

      And like many oil-rich countries, the government tries to cushion the blow by subsidizing fuel (this is more expensive than you might think, since Nigeria can't refine all of its own oil). When oil prices rise again, this puts a strain on govt. budgets.pic.twitter.com/lJni9SVorO

      3 replies 24 retweets 22 likes
      Show this thread
      Noah Smith‏Verified account @Noahpinion Oct 16

      Meanwhile, fewer and fewer Nigerians have jobs, which could portend a rise in social instability.pic.twitter.com/xUj2UYVQNJ

      10:00 AM - 16 Oct 2018
      • 31 Retweets
      • 19 Likes
      • Nnamani sixtus 'Deyemi. Adesola Adebiyi ik Olajide Alex-Oni CWM Hamed Ö Salam Ozymandias Kelvinbagwell® Ifeanyi😁
      3 replies 31 retweets 19 likes
        1. New conversation
        2. Noah Smith‏Verified account @Noahpinion Oct 16

          To escape the doom spiral of the Resource Curse, Nigeria should look to a country that seems to have beaten the curse: Botswana. https://openknowledge.worldbank.org/bitstream/handle/10986/18304/multi0page.pdf?sequence=1&isAllowed=y …

          4 replies 33 retweets 51 likes
          Show this thread
        3. Noah Smith‏Verified account @Noahpinion Oct 16

          Botswana's approach is basically: 1. Pour resource revenues into a Sovereign Wealth Fund 2. Depreciate the currency 3. Use SWF to stabilize the budget 4. Invest a bunch in education, health and infrastructurepic.twitter.com/4igm6XIQvn

          4 replies 46 retweets 63 likes
          Show this thread
        4. Noah Smith‏Verified account @Noahpinion Oct 16

          Nigeria is already taking some of these steps, which is great.pic.twitter.com/oaEc1lfhW9

          2 replies 26 retweets 21 likes
          Show this thread
        5. Noah Smith‏Verified account @Noahpinion Oct 16

          But Nigeria is missing one big piece: Investment in education. (It could also stand to invest more in health.)http://thenationonlineng.net/nigerias-disappointing-investment-education/ …

          2 replies 32 retweets 29 likes
          Show this thread
        6. Noah Smith‏Verified account @Noahpinion Oct 16

          Instead of subsidizing fuel, Nigeria needs to subsidize education (which doubles as child care) and health. This will provide jobs, relieve poverty, and - most importantly - build human capital. (end)pic.twitter.com/h2tiCL0cyA

          14 replies 163 retweets 138 likes
          Show this thread
        7. End of conversation
        1. New conversation
        2. Yellojkt‏ @yellojkt Oct 16
          Replying to @Noahpinion

          You love graphs without a 0 on the y-axis. That is a 2% drop over decades. Not exactly a precipitous decline.

          1 reply 0 retweets 0 likes
        3. Noah Smith‏Verified account @Noahpinion Oct 16
          Replying to @yellojkt

          That's just the way our in-house graphics utility does things.

          1 reply 0 retweets 0 likes
        4. Yellojkt‏ @yellojkt Oct 16
          Replying to @Noahpinion

          It's just one of my pet peeves. Misleading y-axes is a major journalistic innumeracy hot button to me. Not that I'm saying you are innumerate, but surely you can see the problem.

          0 replies 0 retweets 0 likes
        5. End of conversation
        1. M.a.xxx 😊‏ @iamnii1 Oct 17
          Replying to @Noahpinion @ToluStover

          Kil

          0 replies 0 retweets 0 likes
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