[willwashburn]

States within the US are an interesting example however. The timber lands of southern states (e.g. Alabama, Mississippi) are some of the most profitable in the world, yet you have some of the worst poverty. I'm also thinking of the coal fields of Appalachia. And off the top of my head, major oil and gas regions are also relatively poor (e.g. Texas panhandle, the Dakotas, the Louisiana petrochemical alley).

[NeuNeurosis]

This is called the Resource Trap. https://www.investopedia.com/terms/r/resource-curse.asp

[stainforth]

I don't see any mention of how in reality its because the profits are cordoned off by a select few. Consider the Alaska Permanent fund - Appalachia and its industry could provide for its poor, but it doesn't.

[the-dude]

Being Dutch, I am surprised the article doesn't mention the Dutch disease.

https://en.wikipedia.org/wiki/Dutch_disease