Explain What Is Meant By The

NameInstructor s NameCourseDateResource CurseThe Resource Curse , which is also known as the paradox of Plenty describes a state whereby resource rich countries , til now an abundance of natural resources , ar economically weak and woe stricken . As such , these resources be an economic call down what should be a source of wealth and prosperity for countries unfeignedly make them weaker . The reasons for this are widely debated . One of the common reasons cited is that the make-up agencies of these countries , which are often third world , are obnubilate and mismanage resources for their own benefit . Other reasons include shaky marketplaces for the resources the rude produce , a lack of competitiveness in other economic sectors and poor management of resources by a countries leadershipIt is clear that , in to o vercome this phenomenon , some of the profits that are made from the mining need to be re drapeed into the unsophisticated itself .

some people cite Norway s handling of their oil exportation notes as an example of how resource rich countries could handle themselves . They empower a large share of their wealth in a national pension that is worth billions of pounds . Joseph Stiglitz in the book modesty Globalization Work addresses the issues related to the Resource Curse and describes how the graduate(prenominal) hat way for the global society to assist in overcoming this phenomenon is to see to it that a share of the value of the resources with the people of the country . Whils t this is truly difficult due to...If you w! ant to get a extensive essay, order it on our website: OrderEssay.net

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