Human Capital Stock
I have three nits to pick. "Oil has become a zero-sum market where the developing world???s gain will be the OECD???s loss" In the short term all commodities are zero-sum. In the long term, commodities run out or lose their utility and are replaced: flint, wood, iron, brass, steel, carbon nanotubes...; whale oil, pitch, coal, crudeoil, nuclear...
I would submit that rising oil prices are the non-OECD's bain not gain; because non-OECDs lack the human capital structure to either develop or make substitutions as quickly as OECD's with their larger economies and better human capital stock.
You also accept growth in the non-OECD as a given without any consideration of what drives it. So what does drive and sustain non-OECD growth.
