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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]
Natural resources can be a substantial part of a country's wealth; [7] however, a sudden inflow of money caused by a resource extraction boom can create social problems including inflation harming other industries ("Dutch disease") and corruption, leading to inequality and underdevelopment, this is known as the "resource curse".
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.
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Peak production poses a problem for resource rich countries like Australia, which have developed a comparative advantage in the global resources sector, which may diminish in the future. The costs of mining, once primarily reflected in economic terms, are increasingly being considered in social and environmental terms, although these are yet to ...
Some troops leave the battlefield injured. Others return from war with mental wounds. Yet many of the 2 million Iraq and Afghanistan veterans suffer from a condition the Defense Department refuses to acknowledge: Moral injury.
In new satellite imagery, Russia's military appears to be packing up equipment at a key airbase in Syria. The images show transport aircraft ready to load cargo at the Hmeimim Air Base on Friday.
New research indicates students are paying significantly less to attend public universities than they were a decade ago. And tuition increases at private colleges have finally slowed after years ...