Subsurface Wealth: Struggles for Privatization in Argentina

DECEMBER 01, 2008 by GUILLERMO YEATTS

While the oil industry brought prosperity to the United States, the same failed to happen in Argentina. The book exposes and analyzes the institutional framework that restrained the development of the oil industry in Argentina, and suggests radical change—giving surface owners title to the subsurface.

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Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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