U.S. Economy Russiafied: Following the President's Orders - Econ Lessons

[rampartd]

2. he mentioned the resource curse

https://en.wikipedia.org/wiki/Resource_curse

The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources.[1] There are many theories and much academic debate about the reasons for and exceptions to the adverse outcomes. Most experts believe the resource curse is not universal or inevitable but affects certain types of countries or regions under certain conditions.[2][3] As of at least 2024, there is no academic consensus on the effect of resource abundance on economic development

I explain this phenomema a little differently.

on a tropical island with happy people oil (or gold, or "raw earth&quot is discovered. this product has value, and the happy people will want their share. best to kill them off (or move them from the gold filled black hills to starve on a reservation somewhere in the most humane way imaginable.) before they start to interfere with profit.