Among the many many frustrations in growth, maybe none looms bigger than the "useful resource curse." Perversely, the worst growth outcomes--measured in poverty, inequality, and deprivation--are typically present in these nations with the best natural useful resource endowments.
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Relatively than contributing to freedom, broadly shared development, and social peace, wealthy deposits of oil and minerals have typically introduced tyranny, distress, and insecurity to those nations. Luckily, as my colleague Terra Lawson-Remer factors out in a brand new CFR memo, all is just not misplaced. There are concrete steps the worldwide group can take to assist break this curse.