A quote from this piece which might apply to our country: What’s happening in Papua New Guinea is not rare. In fact, it is so common that it has its own term (first coined by British economist Richard Auty): the Resource Curse. The idea is that developing countries with vast natural resources are twenty times more likely to have civil unrest, a sort of paradox of abundance. Perhaps curse is the better catchall label given that the blame for the terrible outcomes in countries like Chad, Nigeria, and Burma can be attributed to multiple factors: corrupt politicians, internal ethnic conflict, and multinationals throwing around money and swag.
Posted on: Sat, 10 May 2014 09:42:42 +0000
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