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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]
Overexploitation often occurs rapidly as markets open, utilising previously untapped resources, or locally used species. The Carolina parakeet was hunted to extinction. Today, overexploitation and misuse of natural resources is an ever-present threat for species richness.
A coal mine in Wyoming, United States. Coal, produced over millions of years, is a finite and non-renewable resource on a human time scale.. A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a pace quick enough to keep up with consumption. [1]
The natural resources of the earth, including the air, water, land, flora and fauna and ... The opposite concept in that model is strong sustainability.
When used to refer to natural resources to the point where the environment is negatively affected, it is synonymous with the term overexploitation. However, when used in the broader economic sense, overconsumption can refer to all types of goods and services, including manmade ones, e.g. "the overconsumption of alcohol can lead to alcohol ...
Other natural resources - Another example of a private exploitation treated as a renewable resource and commonly cited have been trees or timber at critical stages, oil, mined metals, crops, or freely accessible grazing. Debates about sustainability can be both philosophical and scientific.
Extractivism is the removal of large quantities of raw or natural materials, particularly for export with minimal processing. [3] The concept emerged in the 1990s (as extractivismo) to describe resource appropriation for export in Latin America. [16]
Economic gains from natural resources are mostly beneficial when directed towards initiatives such as job creation, skill enhancement, capacity building, and pursuit of long-term developmental objectives. Thus, reliance on one or more natural resources holds financial risk when aiming for a stable economic growth. [28]