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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]
Scarcity involves making a sacrifice—giving something up, or making a trade-off—in order to obtain more of the scarce resource that is wanted. [ 19 ] 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 ...
The unique Norwegian farm culture, sustained to this day, has resulted not only from scarce resources and a harsh climate but also from ancient property laws. In the 19th century, it brought about a strong romantic nationalistic movement, which is still visible in the Norwegian language and media .
The globalization era began with the end of World War II and the rise of the U.S. as the world's leading economic power, along with the United Nations. To prevent another global depression, the victorious allies countries forgave Germany its war debts and used its surpluses to rebuild Europe and encourage reindustrialization of Germany and Japan.
Most important source of revenue: land, then scarce resources, then merchandise; Political economy—Most varied and easiest “The economy of the city” Truly the economy of the city; Economy at a smaller level; Sources of revenue involve merchandise, scarce resources, and taxes; Personal economy— Least important, quite varied
Natural resource allocations can be at the centre of many economic and political confrontations both within and between countries. This is particularly true during periods of increasing scarcity and shortages (depletion and overconsumption of resources). Resource extraction is also a major source of human rights violations and environmental damage.
In the future, international cooperation in sharing scarce resources will become increasingly important. Where scarcity is concentrated on the non-renewable resources that play the most important role in meeting needs, the most essential element for the realisation of human rights is an adequate and equitable allocation of scarcity. Inequality ...
The United Nations Development Programme says economic water scarcity is the most common cause of water scarcity. This is because most countries or regions have enough water to meet household, industrial, agricultural, and environmental needs. But they lack the means to provide it in an accessible manner. [23]