"In 1959, the Netherlands found petroleum on the shores of the North Sea. Money gurgled into the country. To general surprise, the flood of cash led to an economic freeze. Afterward, economists realized that salaries in the new petroleum industry were so high that nobody wanted to work anywhere else. To keep employees, companies in other parts of the economy had to jack up wages, in turn driving up costs. Meanwhile, the surge of foreign money into the Netherlands raised the exchange rate. Soaring costs and currency made it harder for Dutch firms to compete; manufacturing and agriculture faltered; unemployment climbed, except in the oil industry. The windfall led to stagnation—a phenomenon that petroleum cognoscenti now call “Dutch disease."
"It’s about moments in life that are great but don’t last. They don’t go on, but you always have the memory and they have an effect on you. That’s what I was thinking about."
Sofia Coppola on Lost In Translation
(via parislemon)Source: fuckyeahsofia-coppola