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It takes a special kind of talent to impoverish countries as blessed with natural resources as Venezuela and Argentina.
by gaius 9y ago
It takes a special kind of talent to impoverish countries as blessed with natural resources as Venezuela and Argentina.
- realusername 9y agoCountries with massive natural resources generally have a poor redistribution of money, it's not always a disaster like Venezuela but it's more a curse than a blessing.
- cdancette 9y agoMaybe we can thank the multiple economic sanctions that the US decided against Venezuela. And sometimes, too much natural resources and not diversified enough can be a curse, not a blessing. We saw it here with the drop of the oil price.
- worldsayshi 9y agoThe richness in natural resources is kind of part of the problem though? It allowed a small group of rulers to maintain control without caring that much about the country as a whole. Well, that's my interpretation of the situation? It seems like the common way for this kind of situations to arise. The political ideology that the rulers choose as costume for their kleptocracy seems only marginally relevant.
- rayiner 9y agoNot really. Most resource-rich countries are terribly governed. Google “the resource curse.”
- thesmallestcat 9y agoArgentina isn't even resource-rich, it's just large. Great for ranching, few mineral or energy resources. And it's not exactly a secret that petro states like Venezuela have fallen on hard times in the past decade.
- gaius 9y agoThere was once a saying "as rich as an Argentine"