The Resource Curse (Paradox of Plenty) Explained: Definition/Meaning, Examples (Dutch Disease), etc.

[@OneMinuteEconomics]

GiganticWebsites.com is a project through which I make it possible for people to build truly gigantic websites (thousands of articles each!) at ridiculously low prices. If you have a great domain you want to turn into an amazing website or an existing site you'd like to upgrade/scale, visit our website or check out the One Minute Economics presentation video below: kzbin.info/www/bejne/nXabqniFhquArNE Please note that this comment is not an ad for a third-party service provider. GiganticWebsites.com is my baby 100% and I will personally be involved in each and every project so as to ensure the website turns out great :)

[@pinkbunnypanda]

Love this video and so happy you're still actively posting!!! Best economics channel on KZbin!! 😊😊

[@OneMinuteEconomics]

These words of encouragement mean the world to me, thank you so much! :)

[@frankstevens92]

You mentioned an IOS working paper (2016), could you provide a link for it? Thanks for the video.

[@OneMinuteEconomics]

If you liked this video, I think you'll love The Age of Anomaly, my Wall Street Journal and USA Today best-selling book about preparing for financial calamities (whatever they may involve). You can buy it over at: 1) Amazon: www.amazon.com/Reasonable-Case-Bitcoin-Andrei-Polgar-ebook/dp/B09G6Z45QB 2) Barnes & Noble: www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970 3) Apple Books: books.apple.com/us/book/the-age-of-anomaly-spotting-financial-storms-in/id1331704265 4) Kobo: www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty

[@nathaliacarpio4051]

Great explaining!

[@OneMinuteEconomics]

Thanks Nathalia :)

[@slamdunk1759]

Thank you for this educational video... Malaysia is the prime example of paradox of plenty.. and does it come hand in hand with the rise of corruption in a country ??

[@OneMinuteEconomics]

Heh, I feel your pain because my country (Romania) is not exactly a role model :(

[@slamdunk1759]

@@OneMinuteEconomics i guess we're the same. It's difficult to live in a country that is rich in natural resources but at the same time, people r struggling to even survive due to difficulty in looking for employment and also the rise of standard of living. Btw, thanks dude for replying...

[@OneMinuteEconomics]

Yep! And thank YOU for taking the time to say something nice, it helps waaaaay more than folks realize :)

[@puddintame7794]

In his famous book, Notes On The State Of Virginia, Thomas Jefferson posited that climate makes a big difference. Tropical climates are too easy to live so people don't have to work hard and therefore a work ethic isn't developed. A temperate climate is hard enough so people have to work hard but have sufficient off time (in winter) to innovate. Harsh climates however leave no time to innovate.

[@OneMinuteEconomics]

One Minute Economics needs your help! Please give me a minute (heh) of your time by watching the following video if you find the channel useful, literally anyone can help (either financially or by spreading the word about my work): kzbin.info/www/bejne/n6CTZZahppaLZ68

[@asdanjer]

OR MAYBE ist is just cheaper to exploit recorded in country's with no regulations a week goveremnt and basically free laber...

[@OneMinuteEconomics]

Unfortunately, yes, quite a few less than ethical actors do indeed take advantage of such vulnerabilities, doing "business" in a certain country while low hanging fruit abound and then leaving without looking back :(

[@RhiiRhiiQtee]

so can somebody give me a list of causes? I'm still trying to wrap my head around this because it's not my strong suit, although I have an essay due where I have to show knowledge of this.

[@Blackgriffonphoenixg]

it's probably too late for your essay, but a few reasons are: •Imperialist / Neoliberal Western powers will either suck the resource-rich country dry and threaten to / succsessfully turn the country into a puppet dictatorship if they don't obey (see: everywhere in South America, Iran until 1979) •Where that didn't work, said countries will impose enough trade sanctions / embargos to force said resource rich nation into economic hardship and pressures (see: Cuba) •The leaders of those countries themselves decide to just coast on the riches without planning anything long term until it's too late (See: Saudi Arabia, UAE etc.) • or just have no incentive to learn how to manage the riches while eating empanadas (see: Venezuela) •The oligarchs in the country with or without politicians' help decide to just enrich themselves while the nations' populations suffer poverty (see: Brazil, Russia) Plenty of reasons. Plenty of fingers to point at plenty of culprits. Not as plenty solutions sadly.

[@mohammedhanifa8259]

saudi arebia is the perfekt example

[@OneMinuteEconomics]

There are other even "better" for lack of a more precise term examples, especially African nations :(

[@shaniaandre1540]

Good video but you talk wayyyy too fast

[@OneMinuteEconomics]

I do get carried away sometimes, sorry 'bout that :(

[@sakeriyasaleh4820]

.