Hacker News new | past | comments | ask | show | jobs | submit login

Those examples don't necessarily refute grandparent's point.

See link below regarding "two speed economies" in which resource booms can actually have a negative structural impact on production.

http://www.treasury.gov.au/documents/1421/HTML/docshell.asp?...




I am aware that natural resources have caused trouble for a lot of countries. Just stating that it isn't an automatic death sentence to have them.


Australia, Canada and USA had reasonably well functioning economies to start with. And many of the resources were discovered outside the scope of globalization or colonialism, allowing much of it to feed back into the local ecosystem.




Consider applying for YC's Spring batch! Applications are open till Feb 11.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: