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The exploitation of natural resources describes using natural resources, often non-renewable or limited, for economic growth [1] or development. [2] Environmental degradation , human insecurity, and social conflict frequently accompany natural resource exploitation.
These countries are usually behind because of obstacles such as lack of technology, unstable government, and poor education and health systems. [1] In some instances, the exploitation of periphery countries' agriculture, cheap labor, and natural resources aid core countries in remaining dominant.
It is mainly enforced as an economic policy in an authoritarian or populist style [3] by governments that rely on state ownership or control of natural resources located within their territories to advance political, social or industrial objectives. This emphasizes that resources belong to the people of the country in question first and ...
The State Governments alone can make laws relating to the subjects mentioned in the State List. Concurrent List includes subjects of common interest to both the Union Government as well as the State Governments, such as education, forest, trade unions, marriage, adoption and succession. Both the Union as well as the State Governments can make ...
Natural resources can be a substantial part of a country's wealth; [7] however, a sudden inflow of money caused by a resource extraction boom can create social problems including inflation harming other industries ("Dutch disease") and corruption, leading to inequality and underdevelopment, this is known as the "resource curse".
A country is a distinct part of the world, such as a state, nation, or other political entity. When referring to a specific polity, the term "country" may refer to a sovereign state, states with limited recognition, constituent country, or a dependent territory. Most sovereign states, but not all countries, are members of the United Nations ...
Although the terms "state" and "government" are often used interchangeably, [59] international law distinguishes between a non-physical state and its government; and in fact, the concept of "government-in-exile" is predicated upon that distinction. [60] States are non-physical juridical entities, not organisations of any kind. [61]
The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]