Natural Resource Cartels Such as OPEC Are Inherently Unstable Because

question 104

True/False

Natural resource cartels such as OPEC are inherently unstable because their members operate with excess capacity and have an incentive to cheat on their output quotas.

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Definitions:

Routinization of Charisma

The transition of charismatic authority into a bureaucratic or organizational form of governance.

Secularization Thesis

The theory that as societies progress, particularly through modernization and rationalization, religion loses its authority and influence over social life and governance.

Inequalities

The situation where different social statuses or positions within a society or group have unequal opportunities and advantages.

Social Solidarity

The bonds that unite members of a society, including shared values, beliefs, and behaviors that contribute to social cohesion and a sense of belonging.