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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]
Despite being rich in natural resources, the Democratic Republic of Congo is one country in the global south suffering from the effects of the resource curse. Its valuable copper and cobalt mineral deposits make Congo vulnerable to local and international conflict over the distribution of resources.
Many scholars see the natural resource wealth in some countries as a blessing, while others have referred to it as a natural resource curse. [3] A vast body of resource curse literature has studied the role of governance regimes, legal frameworks and political risk in building an economy based on natural resource exploitation.
Three years ago, the U.S. Geological Survey said some of the resources in. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us ...
Resource justice (also referred to as "resource equity" or "resource governance") is a term in environmentalism and in environmental ethics.It combines elements of distributive justice and environmental justice and is based on the observation that many countries rich in natural resources such as minerals and other raw materials nevertheless experience high levels of poverty (resource curse).
A resource boom affects this economy in two ways: In the "resource movement effect", the resource boom increases demand for labor, which causes production to shift toward the booming sector, away from the lagging sector. This shift in labor from the lagging sector to the booming sector is called direct deindustrialization.
The resource consumption rate of a nation does not usually correspond with the primary resource availability, this is called resource curse. Unsustainable consumption by the steadily growing human population may lead to resource depletion and a shrinking of the earth's carrying capacity. [1]
Contrary to the theory of the comparative advantage, many mineral resource-rich countries are often outperformed by resource-poor countries. [17] This paradox, where natural resource abundance actually has a negative impact on the growth of the national economy is termed the resource curse. After an initial economic boost, brought on by the ...