Browsed by
Tag: resource trap

Zimbabwe’s Diamonds and the Natural Resource Trap

Zimbabwe’s Diamonds and the Natural Resource Trap

In my last post, I discussed why access to abundant natural resources is actually counterproductive to the development of poor countries.  The idea comes from Paul Collier, a development economist who penned the book The Bottom Billion, a summary of his findings from thirty years in the industry.  While much of the world lives below the poverty line, there are only a handful of countries that have made no progress in terms of economic development over the last few decades. …

Read More Read More

Oil Drilling in the Niger Delta

Oil Drilling in the Niger Delta

In a little-known story from the southeastern United States, a large oil rig recently exploded in the Gulf of Mexico, releasing a nominal amount of mildly polluting oil into ocean, killing a few birds and galvanizing retirees in Florida – a political sleeping giant – into action.  This minor environmental calamity, which can hardly be considered more than a nuisance, is indeed tragic, but it pales in comparison to what happens elsewhere in the world.  Take this article from the…

Read More Read More