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NeuNeurosis
1988 days ago
This is called the Resource Trap.
https://www.investopedia.com/terms/r/resource-curse.asp
2 comments
stainforth
1988 days ago
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.
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the-dude
1988 days ago
Being Dutch, I am surprised the article doesn't mention the
Dutch disease
.
https://en.wikipedia.org/wiki/Dutch_disease
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