resource curse
Wealth breeds stagnation
The resource curse is the paradox that countries rich in natural resources—especially oil, minerals, and gas—often experience slower economic growth, weaker democratic institutions, and more corruption than resource-poor nations.
Abundant wealth from extraction can distort economies, fund authoritarian regimes, and spark conflict over control: Nigeria exemplifies the resource curse, with decades of oil revenue failing to lift most citizens from poverty.
- oilSlippery viscous fluid
- diamondsPrecious crystallized carbon
- extractionAct of removing
- wealthAbundance of valuable resources
- easy moneyProfit gained effortlessly
corruption · Nigeria · Venezuela · poverty · mining · abundance · paradox · conflict · civil war · instability · dictator · failed state · exploitation · petroleum · boom · bust · boom and bust · inequality
- African economicsGDP, GDP growth, foreign investment, trade deficit, trade deficits
- economic problemsmarket failure, recession, inflation, deflation, stagflation
- Oil Politicsoil politics, oil embargo, oil sanctions, OPEC, petrodollars
- Niger DeltaNiger Delta, Niger River, oil spills, crude oil, oil pollution
- inequalitywealth gap, income gap, disparity, wage gap, income disparity
- oil industrypetroleum, oil fields, oil well, oil rig, oil production
resource curseknowledge economy
System valuing expertise over manufacturing
resource, resources, resourced, resourceful, resourcefulness, resourcefully, under-resourced, curse, curses