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The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
Why Nations Fail: The Origins of Power, Prosperity, and Poverty, first published in 2012, is a book by economists Daron Acemoglu and James A. Robinson, who jointly received the 2024 Nobel Economics Prize (alongside Simon Johnson) for their contribution in comparative studies of prosperity between nations.
Critics of the steady-state economy usually object to it by arguing that resource decoupling, technological development, and the operation of market mechanisms are capable of overcoming resource scarcity, pollution, or population overshoot. Proponents of the steady-state economy, on the other hand, maintain that these objections remain ...
By 2004, poverty had fallen to 10 percent, [1] suggesting that approximately 500 million people had been lifted out of poverty in one generation. At the same time, the pace of change has brought mixed results. China faces serious natural resource shortages and environmental problems. As people live in different areas, the differences between ...
Increased resource scarcity leads to increase and fluctuation of prices, which drives advances in technology for more efficient use of resources such that costs will be considerably reduced, almost to zero. They thus claim that following an increase in scarcity from now, the world will enter a post-scarcity age between 2050 and 2075. [21]
3. They Rely So Much on Convenience. In many countries, the American love for fast food and drive-thrus is seen as symptomatic of a broader cultural expectation for immediate gratification.
“They’re just illogical.” 'Dumb! Really dumb!': Dave Ramsey launches into an epic rant on 3 of the most common money mistakes people make.
Many digital resources have properties that make them vulnerable to the tragedy of the commons, including data, [47] virtual artifacts [48] and even limited user attention. [49] Closely related are the physical computational resources, such as CPU , RAM , and network bandwidth , that digital communities on shared servers rely upon and govern ...