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Overall it seems like a well reasoned article. But as a side note, I have often seen people say something like "despite being blessed with natural resources" w
by rmah 5y ago
Overall it seems like a well reasoned article.
But as a side note, I have often seen people say something like "despite being blessed with natural resources" when talking about poor nations. While it feels reasonable to think that a nation with lots of natural resources should be relatively well off, it's not.
Or rather, it is 19th century (and earlier) thinking. Sure, natural resources can help a nation reach wealthy status. But only by 19th century standards. Not by modern standards (unless they have a truly astounding amount per capita). Contemporary levels of wealth only come from manufacturing and knowledge industries.
- ZeroGravitas 5y ago"The Resource Curse" explains why its even worse than that. If a dictator can get rich by letting foreigners come in and take your resources then they dont need to invest in the country beyond building a road to the nearest port.