@tschannen
Resource abundance can bring short-term wealth (Dutch disease, resource curse), but long-term prosperity depends more on institutions, education, innovation, open markets, and effective governance.Many resource-poor countries (Japan, South Korea, Singapore, Switzerland) achieved high income through human capital and systems, while some resource-rich nations (Venezuela, Nigeria) remain trapped in poverty due to poor institutions.Conclusion: Resources are a bonus, not destiny. Good institutions + human capital > resource endowment.Relevant sources:
https://www.nber.org/papers/w13983
https://www.imf.org/external/pubs/ft/fandd/2010/03/bornhorst.htm
https://ourworldindata.org/resource-curse
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