Why are some resource-rich countries economically poor?

Tuesday, 19 March 2019 01:29 - - {{hitsCtrl.values.hits}}

For a country to be economically prosperous, you either need to be blessed with natural resources (including strategic geographical location) or human resources (that can add significant economic value). In some cases, both.

Even if you have either or both, it is not a given that the country will be economically prosperous – because these resources, be it natural or human, needs to be transformed into sustainable value-addition.

To ensure this value-addition, a country needs either needs strong processes or strong leadership. In most cases, both. But when you have neither, you end up with strong chaos!

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Why are some resource-rich countries economically poor?

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