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In economics, Dutch disease is the apparent causal relationship between the increase in the economic development of a specific sector (for example natural resources) and a decline in other sectors (like the manufacturing sector or agriculture).
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]
The latter amounted to 15 million guilders annually by 1770, and twice that by 1790. The consequence was a preview of the "Dutch disease" of the 20th century, where a strong guilder (also caused by a structural balance-of-payments surplus) discouraged exports, as it did in the 18th century. [41]
According to the Dutch disease theory, the sudden discovery of oil may cause a decline in the manufacturing sector. The consequences will vary from country to country, depending on the country's economic structure and stage of development. [1]
The resource curse is the paradoxical lack of growth in countries with strong natural resources. Dutch disease is one mechanism which might contribute to this lack of growth. I think this article does a good job of illustrating the differences. Dutch disease is listed as one of three explanations for the resource curse.--
Norway has avoided the “oil curse” or “dutch disease” Dutch disease that many oil producing countries have experienced, in part because it began to harvest petroleum resources at a time when the government regulation was well developed and already in an economically strong position: “Norway had the advantage of entering its oil era ...
Dutch disease – Theory in economics, the apparent causal relationship between the increase in the economic development of a specific sector (for example natural resources) and a decline in other sectors (like the manufacturing sector or agriculture). Externality – In economics, an imposed cost or benefit
In economics, the Jevons paradox (/ ˈ dʒ ɛ v ə n z /; sometimes Jevons effect) occurs when technological advancements make a resource more efficient to use (thereby reducing the amount needed for a single application), however, as the cost of using the resource drops, overall demand increases causing total resource consumption to rise.