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Showing posts from May, 2013

Why The Three Lions Won’t Have too Many More Good Players: The Dutch Disease

Until recently, England were never short on talent. The Man United Class of 92 saw the birth of quite a lot of talent like Scholes, Beckham, and the Nevilles. The Academy of Football (also known as the West Ham academy) fabricated players such as Carrick, Lampard, and Joe Cole. They also have stars like Rooney, Ashley Cole and Gerrard. But these talents are either retired or aging, and the new breed of stars don’t look like they are half as good as the generation they are replacing.
What’s happening to them? In Economics, it is problem called Dutch Disease.
Dutch Disease is a term coined by The Economist to refer to the decline in Dutch manufacturing after the exploitation of a large oil reserve in the North Sea. The large revenue generated from oil export made the Gulden stronger to a point where their manufacturing output became uncompetitive in foreign markets. The Dutch Disease has been an issue anywhere there is a large inflow of money towards a country due to a sudden event.