💀 Who Is Under The Resource Curse? | 2 Causes of Curse

What is the resource curse? What are the causes of the resource curse? What are the consequences? What is dutch disease? Other names: the rent curse, the paradox of plenty.
Learn Austrian Economics in a fun way!
LINKS
BLOG: econclips.com/the-resource-cu...
ANIMATIONS: toin.pl/en/
SUPPORT our project: bit.ly/2fgJR9e
Visit our website: econclips.com/
Like our Facebook page: bit.ly/1XoU4QV
Subscribe to our KZbin channel: bit.ly/1PrEhxG
★★★★★★★★★★★★★★★★★★★★★★★★★★
Music on CC license:
Kevin MacLeod: Home Base Groove - na licencji Creative Commons Attribution (creativecommons.org/licenses/...)
Źródło: incompetech.com/music/royalty-...
Wykonawca: incompetech.com/
★★★★★★★★★★★★★★★★★★★★★★★★★★
#Economics #Capitalism #Finance
#EconClips
Econ Clips is an economic blog. Our objective is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, inflation, money, investing, monetary systems, financial markets, financial institutions, cental banks, wealth, financial crises and business cycles. If you want to know how the economy works and understand why it works this way - join us on econclips.com and learn Austrian Economics in a fun way!
00:00 Introduction
00:28 What is the resource curse?
01:02 What are the causes of the resource curse?
02:02 Political and social
03:01 Institutional
03:26 Which countries are “cursed”?
05:18 What are the consequences of the resource curse?
06:46 How to help?
07:30 Outro
Relevant Tags:
econ clips, econclips, austrian economics, austrian school of economics, capitalism, free market, the resource curse, the rent curse, paradox of plenty, economics, economics explained, market inflation, price index, macroeconomics, economic crisis, economic crisis 2022, 2022 economic crisis explained, finance

[@nesdanziger3741]

Hey EconClips, it would be amazing if y'all made a reading list for people who want to learn the basics of austrian economics.

[@powerslave6944]

That king, that goose and this video subject describe my country perfectly.

[@freesk8]

Wow! Good one! Always wondered about this! Thanks! :)

[@EconClips]

Thanks!

[@Azraiel213]

Seems logical to me. Abundant resources both discourages ingenuity and makes it easy for governments to centralize power.

[@loodi3138]

I've seen this curse happening here in saudi arabia I start to be more concern when I see the price of oil rising up day after day and thus going to make the country more dependent on oil. Thanks for this video

[@marunio435]

Did that affect only Spain? What about England, France and Netherlands?

[@jijovj3808]

Does private education encourage better quality than public education? If yes, what? Does competition exist in private education?

[@joesamson8666]

The Republic of Congo is not the country you've shown. That's the DRC! Poor research but you have the guts to ask for support and donations!?

[@Anti-CornLawLeague]

Botswana did it right.

[@claudiodeugenio]

The most important aspect of resources being more a curse than a blessing - colonialism and neo-colonialism - have been left out completely. Why ingnoring this historical perspective?

[@voswouter87]

You haven't proven a causal relationship. A problem I have with your explanation is that plenty of people will keep working for more money no matter how much wealth they have. I have another idea of what the causal relationship could be. Parents spoiling their kids. This is possible to the extent the people have wealth. Through an evolutionary mechanism (I'd like to test this) those kids become more and more progressive. And progressive values lead to a collapse in civilization.

[@austinbyrd1703]

You're just repeating the old saying _'hard times create strong men, strong men bring easy times, easy times create weak men, weak men bring hard times'._

[@voswouter87]

@@austinbyrd1703 I'm much more specific.