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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]
An estimated 57% of the world's population will experience water scarcity at least one month out of the year by 2050. [21] Mitigation and updated water resource policies will require interdisciplinary and international collaboration, including government officials, environmental scientists, sociologists, economists, climate modelers, and activists.
There are two types of water scarcity. One is physical water scarcity and the other is economic water scarcity. [2]: 560 Some definitions of water scarcity look at environmental water requirements. This approach varies from one organization to another. [15]: 4 Global water consumption 1900–2025, by region, in billions m 3 per year
The countries designated as small states include some of the most and least developed nations, resource-rich and resource-scarce countries, and both island and landlocked states. The diversity of small states is significant, in terms of their circumstances, interests, policy priorities, and resources.
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution.The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.
One of the most prolific examples of resource war in history is the conflict over Chincha Island guano in the late 19th century. The Chincha Islands of Peru are situated off of the southern coast of Peru, where many seabirds were known to roost and prey on fish brought there by the currents of the Pacific Ocean . [ 3 ]
Intensive agriculture is an example of a mode of production that hinders many aspects of the natural environment, for example the degradation of forests in a terrestrial ecosystem and water pollution in an aquatic ecosystem. [5] As the world population rises and economic growth occurs, the depletion of natural resources influenced by the ...
The condition of scarcity in the real world necessitates competition for scarce resources, and competition occurs "when people strive to meet the criteria that are being used to determine who gets what". [19]: p. 105 The price system, or market prices, are one way to