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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]
Economic gains from natural resources are mostly beneficial when directed towards initiatives such as job creation, skill enhancement, capacity building, and pursuit of long-term developmental objectives. Thus, reliance on one or more natural resources holds financial risk when aiming for a stable economic growth. [28]
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.
Conflict resources are natural resources extracted in a conflict zone and sold to perpetuate the fighting. [13] There is both statistical and anecdotal evidence that the presence of precious commodities can prolong conflicts (a " resource curse ").
The motivation for individuals to contribute is reflective of the theory because, if humans act in their own immediate interest and no longer participate, then the resource becomes misinformed or depleted. Arguments surrounding the regulation and mitigation requirements for digital resources may become reflective of natural resources. [53] [54]
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).
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 booming minerals economy, negative impacts linked to the boom surpass the positive, causing economic activity to fall below the pre-resource windfall ...
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]