Please read the attached article and answer the following.
in your review of the articles mention the following
- What are the main arguments presented by the author? Mention at least three
- Why does the author use the term natural resource trap? How are countries trapped?
- Are natural resources related to conflict? How? Mention three reasons.
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CHAPTER 3 The Natural Resource Trap Conflict is not the only trap. A much more paradoxical trap has been the discovery of valuable natural resources in the context of poverty. You would hope that the discovery of natural resource wealth would be a catalyst to prosperity, and sometimes it is. But these are the exceptions. Sometimes resource wealth has contributed to the conﬂict trap. But even where the country stays at peace it typically fails to grow; indeed, the surplus from natural resource exports signiﬁcantly reduces growth. Economists term the excess of revenues over all costs including normal proﬁt margins “rent,” and rents seem to be damaging. Over time, countries with large resource discoveries can end up poorer, with the lost growth more than offsetting the one-off gain in income provided by the rents. Obviously if you have enough natura
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