4 ms·

But may be soon with all those natural resources!

• bergie 15y ago
  Generally it seems natural resources only stunt the state of a country and benefit very few. Norway appears to be one of the only places with rich natural resources and a working society.
  • ohashi 15y ago
    Australia? USA? Canada? There are many different resources besides simply oil (I am making an assumption that's what is in your mind because of the Norway example). Mongolia doesn't simply have oil (and they rank #92 in the world for oil production - so they don't even have much of it), they have richer mineral deposits.
    • westicle 15y ago
      Those examples don't necessarily refute grandparent's point. See link below regarding "two speed economies" in which resource booms can actually have a negative structural impact on production. http://www.treasury.gov.au/documents/1421/HTML/docshell.asp?URL=02%20The%20resources%20boom%20and%20the%20two%20speed%20economy.htm http://www.treasury.gov.au/documents/1421/HTML/docshell.asp?...
      • ohashi 15y ago
        I am aware that natural resources have caused trouble for a lot of countries. Just stating that it isn't an automatic death sentence to have them.
        • bergie 15y ago
          Australia, Canada and USA had reasonably well functioning economies to start with. And many of the resources were discovered outside the scope of globalization or colonialism, allowing much of it to feed back into the local ecosystem.