Birth of a Nation

Dave Killion — July 9, 2011

Al Jazeera reports that after decades of war, a referendum has led to the creation of the Republic of South Sudan –

“The Republic of South Sudan has become the world’s newest nation by officially breaking away from Sudan after two civil wars and over five decades of conflict with the north. It is the 193rd country recognised by the UN.

A mood of joy and celebration swept through its capital Juba at midnight on Friday, with scenes of jubilation and sounds of church bells ringing.

Thousands of people gathered with friends and family on the streets singing, dancing, banging drums and honking horns in celebration.”

Governments are monopolies, and I’m glad to see a big monopoly broken down into two smaller ones. Unfortunately, there is still a lot that could go wrong –

“Northern and southern leaders have still not agreed on a list of sensitive issues, most importantly the exact line of the border and how they will handle oil revenues, the lifeblood of both economies.”

There are not many countries that do well when the state is heavily reliant on oil revenues, and since most of the oil is located in the south, it will be a source of endless contention. My advice to North Sudan? Let the oil go. Privatize your own reserves and let the market diversify your economy. Take my counsel, and I promise your people will know peace and prosperity all their days.

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