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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]
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.--
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).
Warner Max Corden AC (13 August 1927 – 21 October 2023) [1] was an Australian economist. He was mostly known for his work on the theory of trade protection, including the development of the Dutch disease model of international trade. [2]
The Dutch hypothesis was originally proposed by Dick Orie and his team in 1961 at the University of Groningen. [ 2 ] [ 3 ] According to Orie, "Bronchitis and Asthma may be found in one patient at the same age but as a rule there is a fluent development from bronchitis in youth to a more asthmatic picture in adults, which in turn develops into ...
Extractivism is the removal of large quantities of raw or natural materials, particularly for export with minimal processing. [3] The concept emerged in the 1990s (as extractivismo) to describe resource appropriation for export in Latin America. [17]