Suppose that a new and precious natural resource has been recently discovered in abundance at the same time in Nigeria and Switzerland. What would be the impact of the discovery in each country? What would the economic consequences for each of the two countries be? Would the new wealth turn out to be a curse or a blessing?
You might think that such discoveries are of great benefit to the countries where they occur. Surprisingly, researchers on this topic cannot decide whether such discoveries are blessings or curses. It turns out there are examples for both cases.
Here we will try to explain why such discoveries might be a curse rather than a blessing to a country.
By the end of this lesson, you should be able to:
We will focus here on Peru, a resource rich country in South America that has struggled to deal with the resource curse.
This lesson will take us one week to complete. Please refer to Canvas for specific time frames and due dates. There are a number of required activities in this lesson. The chart below provides an overview of those activities that must be submitted for this lesson. For assignment details, refer to the lesson page noted.
Requirements | Submitting Your Work |
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Please read all provided links. | Not submitted |
Lesson Quiz | Submitted in Canvas |