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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 ]
An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. It is often understood in economics that economic crisis and the following recession that may be named economic depression are part of economic cycles where the slowdown of the economy follows the economic growth and vice versa.
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. The impacts of the depletion of natural resources include the decline of ...
The problem of allocation deals with the question of whether to produce capital goods or consumer goods. If the community decides to produce capital goods, resources must be withdrawn from the production of consumer goods. In the long run, however, [investment] in capital goods augments the production of consumer goods.
As it was incomplete, I had coined the word satyagraha for the Gujarati readers. When I saw the title of Thoreau’s great essay, I began the use of his phrase to explain our struggle to the English readers. But I found that even civil disobedience failed to convey the full meaning of the struggle. I therefore adopted the phrase civil resistance.
Marxian economics. Marxian class theory asserts that an individual's position within a class hierarchy is determined by their role in the production process, and argues that political and ideological consciousness is determined by class position. [1] A class is those who share common economic interests, are conscious of those interests, and ...
Dot-com bubble (2000–2002) (US) Turkish economic crisis (2001) September 11 attacks (2001) Uruguay banking crisis (2002) Venezuelan general strike of 2002–03. Finance company collapses, 2006–2012 (New Zealand) 2007–2008 financial crisis. Great Recession (worldwide) 2000s energy crisis (2003–2009) oil price bubble.
An ethnic conflict is a conflict between two or more ethnic groups. While the source of the conflict may be political, social, economic or religious, the individuals in conflict must expressly fight for their ethnic group's position within society. This criterion differentiates ethnic conflict from other forms of struggle. [1][2]