The Resource Curse

The Resource Curse, also known as the "paradox of plenty," refers to the phenomenon where countries rich in natural resources, like oil or minerals, often experience less economic growth and poorer development outcomes compared to those with fewer resources. This can happen due to factors such as corruption, reliance on a single industry, and neglect of other sectors like education and infrastructure. As a result, wealth from resources can lead to inequality, political instability, and conflict, undermining the potential benefits that resource wealth could bring to the broader population.