What is RESOURCE CURSE? What does RESOURCE CURSE mean? RESOURCE CURSE meaning - RESOURCE CURSE definition - RESOURCE CURSE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. The resource curse, also known as the paradox of plenty, refers to the paradox that countries with an abundance of natural resources, specifically non-renewable resources like minerals and fuels, tend to have less economic growth, less democracy, and worse development outcomes than countries with fewer natural resources. This is hypothesized to happen for many different reasons, and there are many academic debates about when and why it occurs. Most experts believe the resource curse is not universal or inevitable, but affects certain types of countries or regions under certain conditions. The idea that resources might be more of an economic curse than a blessing began to emerge in debates in the 1950s and 1960s about the economic problems of low and middle-income countries. The term resource curse was first used by Richard Auty in 1993 to describe how countries rich in mineral resources were unable to use that wealth to boost their economies and how, counter-intuitively, these countries had lower economic growth than countries without an abundance of natural resources. An influential study by Jeffrey Sachs and Andrew Warner found a strong correlation between natural resource abundance and poor economic growth. Hundreds of studies have now evaluated the effects of resource wealth on a wide range of economic outcomes, and offered many explanations for how, why, and when a resource curse is likely to occur. While "the lottery analogy has value but also has shortcomings", many observers have likened the resource curse to the difficulties that befall lottery winners who struggle to manage the complex side-effects of newfound wealth. The IMF classifies 51 countries as “resource-rich.” These are countries which derive at least 20% of exports or 20% of fiscal revenue from nonrenewable natural resources. 29 of these countries are low- and lower-middle-income. Common characteristics of these 29 countries include (i) extreme dependence on resource wealth for fiscal revenues, export sales, or both; (ii) low saving rates; (iii) poor growth performance; and (iv) highly volatile resource revenues. A 2016 meta-study finds weak support for the thesis that resource richness adversely affects long-term economic growth. The authors note that "approximately 40% of empirical papers finding a negative effect, 40% finding no effect, and 20% finding a positive effect" but "overall support for the resource curse hypothesis is weak when potential publication bias and method heterogeneity are taken into account." Natural resources are a source of economic rent which can generate large revenues for those controlling them even in the absence of political stability and wider economic growth. Their existence is a potential source of conflict between factions fighting for a share of the revenue, which may take the form of armed separatist conflicts in regions where the resources are produced or internal conflict between different government ministries or departments for access to budgetary allocations. This tends to erode governments' abilities to function effectively. Even when politically stable, countries whose economies are dominated by resource extraction industries tend to be less democratic and more corrupt. According to one academic study, a country that is otherwise typical but has primary commodity exports around 5% of GDP has a 6% risk of conflict, but when exports are 25% of GDP the chance of conflict rises to 33%. "Ethno-political groups are more likely to resort to rebellion rather than using nonviolent means or becoming terrorists when representing regions rich in oil." There are several factors behind the relationship between natural resources and armed conflicts. Resource wealth may increase the vulnerability of countries to conflicts by undermining the quality of governance and economic performance (the "resource curse" argument). Secondly, conflicts can occur over the control and exploitation of resources and the allocation of their revenues (the "resource war" argument). Thirdly, access to resource revenues by belligerents can prolong conflicts (the "conflict resource" argument).
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Jeffrey Sachs and Tyler Cowen discuss the resource curse, why Russia failed and Poland succeeded, charter cities, Sach's China optimism, JFK, Paul Rosenstein-Rodan, whether Africa will be able to overcome the middle income trap, Paul Krugman, Sach's favorite novel, premature deindustrialization, and how to reform graduate economics education. Transcript and related readings: https://medium.com/conversations-with-tyler/jeffrey-sachs-on-the-future-of-economic-development-2650c27b2776 iTunes: https://itunes.apple.com/us/podcast/conversations-with-tyler/id983795625 Audio link: https://soundcloud.com/conversationswithtyler/jeffrey-sachs-on-the-future-of-economic-development Stay Connected Facebook: http://www.facebook.com/mercatuscenter/ Twitter: http://www.twitter.com/mercatus Email: http://www.mercatus.org/newsletters
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This is an audio version of the Wikipedia Article: Resource curse 00:00:34 1 Resource curse thesis 00:02:22 2 Economic effects 00:03:49 2.1 Dutch disease 00:06:14 2.2 Revenue volatility 00:08:45 2.3 Enclave effects 00:09:54 2.4 Human resources 00:10:53 2.5 Incomes and employment 00:12:20 3 Political effects 00:13:09 3.1 Violence and conflict 00:18:26 3.2 Democracy and human rights 00:24:12 3.3 Distribution 00:25:06 3.4 Gender inequality 00:25:35 3.5 International cooperation 00:26:02 3.6 Foreign aid 00:26:52 4 Criticisms 00:31:23 5 See also Listening is a more natural way of learning, when compared to reading. Written language only began at around 3200 BC, but spoken language has existed long ago. Learning by listening is a great way to: - increases imagination and understanding - improves your listening skills - improves your own spoken accent - learn while on the move - reduce eye strain Now learn the vast amount of general knowledge available on Wikipedia through audio (audio article). You could even learn subconsciously by playing the audio while you are sleeping! If you are planning to listen a lot, you could try using a bone conduction headphone, or a standard speaker instead of an earphone. You can find other Wikipedia audio articles too at: https://www.youtube.com/channel/UCuKfABj2eGyjH3ntPxp4YeQ You can upload your own Wikipedia articles through: https://github.com/nodef/wikipedia-tts "The only true wisdom is in knowing you know nothing." - Socrates SUMMARY ======= The resource curse, also known as the paradox of plenty, refers to the paradox that countries with an abundance of natural resources (such as fossil fuels and certain minerals), tend to have less economic growth, less democracy, and worse development outcomes than countries with fewer natural resources. There are many theories and much academic debate about the reasons for, and exceptions to, these adverse outcomes. Most experts believe the resource curse is not universal or inevitable, but affects certain types of countries or regions under certain conditions.
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Cap, Auction, and Trade: Auctions and Revenue Recycling Under Carbon Cap and Trade - Select Committee on Energy Independence and Global Warming - 2008-01-23 - Going Once, Going Twice . . . Select Committee to Examine Auction System in Climate Cap-and-Trade Bill. On Wednesday, January 23rd 2008, Chairman Edward Markey (D-Mass.) and the Select Committee on Energy Independence and Global Warming held a hearing entitled "Cap, Auction, and Trade: Auctions and Revenue Recycling Under Carbon Cap and Trade." This hearing examined the potential role of auctioning tradable pollution allowances under a cap-and-trade system to reduce global warming pollution, instead of giving them away for free to polluters - and potential uses for the tens of billions of dollars that could be generated through such auctions. PANEL: Hon. Ian Bowles, Secretary of Energy and Environmental Affairs, Commonwealth of Massachusetts; Peter Zapfel, Coordinator for Carbon Markets and Energy Policy, European Commission - Environment Directorate General; Dallas Burtraw, Senior Fellow, Resources for the Future; John Podesta, President and Chief Executive Officer, Center for American Progress; Robert Greenstein, Executive Director, Center on Budget Policies and Priorities. Video provided by the U.S. House of Representatives.
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Washington DC Free Consumer Credit Counseling Service call (800) 254-4100 Credit Repair, Bankruptcy Counseling, Foreclosure Prevention, https://youtu.be/I03zi331RrU Stopping Wage Garnishment, Student Loan Bankruptcy, stopping Vehicle Repossession, Mortgage Loan Modification, and Debt Settlement through chapter 13. https://www.youtube.com/channel/UC0g9QA7SRkhQX7Ri0NEE6nw Credit counseling starts with the parent and may include intermediaries later in life empowered by the individual debtor to act on their behalf to negotiate with creditors and resolve debt that is beyond a debtor’s ability to pay. Credit counseling is a generic name and is not a brand name owned or controlled by any agency or company. Consumer credit counseling services are provided by attorneys, accountants, finance and tax professionals, for-profit, and non-profit credit counseling companies. Regulations on credit counseling and credit counseling agencies varies by country and sometimes within regions of the countries themselves. In the United States, individuals filing Chapter 13 bankruptcy are required to receive counseling from a designated credit counseling agency.
Conspiracy theorists are insane in the spam! We were spammed this video, so we sped it up for your enjoyment and laughter at the conspiracy theorist crazies falsely accusing whole industries of somehow being a part of some hand-sign-symbolism agenda to influence and subvert all people. What a joke! They're just not that organized and why would they do such a thing? Conspiracy Theorists are INSANE. Such BS. It's all fake and a joke. POSTING THIS VIDEO TO SHOW HOW RIDICULOUS THEY ARE! THE HAND SIGN MEANS PEACE. GET OVER YOURSELF FOOLS. THEY LIKE MAKEUP. THEY LIKE TATTOOS WHAT'S WRONG WITH THAT. IT'S JUST ART, STOP SAYING IT'S THE DEVIL OR SATAN. PAUL ELAM IS SATAN Are you Satan? You need "The Rational Male" by Rollo Tomassi Link to his book: http://wp.me/p3P5mL-65 Paul Elam, SATAN, comes clean with the truth, and this sends Elizabeth Vargas to rehab. You're a Rational Male, therefore, you are Satan, not Santa. http://www.youtube.com/watch?v=ij69NeNgdB8 ... THERE IS NO SUCH THING AS YOUR NONSENSE. 1. He´s got the whole world in His hands, |: He´s got the whole world in His hands, :| He´s got the whole world in His hands. 2. He´s got the wind and the rain in His hands, |: He´s got the wind and the rain in His hands, :| He´s got the whole world in His hands. 3. He´s got the the tiny little baby in His hands, |: He´s got the the tiny little baby in His hands, :| He´s got the whole world in His hands. 4. He´s got you and me, brother, in His hands, |: He´s got you and me, brother, in His hands, :| He´s got the whole world in His hands. 5. He's got ev'rybody here in His hands. |: He's got ev'rybody here in His hands. :| He's got the whole world in His hands. 1. He´s got the whole world in His hands, |: He´s got the whole world in His hands, :| He´s got the whole world in His hands. He's got the earth and sky in his hands; He's got the night and day in his hands; He's got the sun and moon in his hands; He´s got the whole world in His hands. 2. He´s got the whole world in His hands, |: He´s got the whole world in His hands, :| He´s got the whole world in His hands. He's got the land and sea in his hands; He's got the wind and rain in his hands; He's got the spring and fall in his hands; He´s got the whole world in His hands. 3. He´s got the whole world in His hands, |: He´s got the whole world in His hands, :| He´s got the whole world in His hands. He's got the young and old in his hands; He's got the rich and poor in his hands; Yes, he's got ev'ry one in his hands; He´s got the whole world in His hands. He´s got the whole world in His hands, |: He´s got the whole world in His hands, :| He´s got the whole world in His hands. Does this mean peace? Hand signs are just innocent get over it. These people don't worship satan. C'mon it's not like that don't be a fool. - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - -just will there juniorsmomma we so hey am woman man his an lol how out up would one when by has more them marriage get time hagmann hi itsme know good h sex think than o had don robomom here even then should turtlesays Sleepingsome daughters any down being muffin these old into well us really rickynlucy botta having traditional such actually far ve christian roseybud female money own getting reply ll college it's withdrawing point needs society keep free ever red dr wrong makes told both anonymous probably end push expect twenties different kids career means nice school few When you're young, you look at television and think, there's a conspiracy. The networks have conspired to dumb us down. But when you get a little older, you realize that's not true. The networks are in business to give people exactly what they want. Steve Jobs Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob and degrade them, neither persons nor property will be safe. Frederick Douglass Society, Ignorance, Justice When you're young, you look at television and think, there's a conspiracy. The networks have conspired to dumb us down. But when you get a little older, you realize that's not true. The networks are in business to give people exactly what they want. Steve Jobs Business, True, Give People love conspiracy theories. Neil Armstrong Love, Theories The only time I commit to conspiracy theories is when something way retarded happens. Like Lee Harvey Oswald acting alone. Joe Rogan Time, Alone, Acting Secrecy, being an instrument of conspiracy, ought never to be the system of a regular government. Jeremy Bentham Government, System, Instrument Money doesn't mind if we say it's evil, it goes from strength to strength. It's a fiction, an addiction, and a tacit conspiracy. Martin Amis Money, Strength, Mind
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