4 ms·
Dutch disease is only one aspect of the resource curse and classical "Dutch disease" has little has little to do with overexploitation post colonial or otherwis
by JackFr 4y ago
Dutch disease is only one aspect of the resource curse and classical "Dutch disease" has little has little to do with overexploitation post colonial or otherwise -- I don't think many people were claiming that the Netherlands were being exploited in the 1960's. What it does mean though, is that a resource rich country may find is currency strong and any manufacturing or agriculture less competitive on world markets - again this has little to do with overexploitation.
Other aspects of the resource curse that are relevant to resource rich African nations are economies that fluctuate wildly with world commodity prices which lead to whipsaw effects and difficulties in planning and investment, a lower return to investments in human capital and natural resource development being more amenable to corrruption than other industries.