The "paradox of plenty," also referred to as the "resource curse", is meant to represent the notion that states with an abundance in natural resources, such as crude oil, tend to be accompanied by rising levels of poverty. ... The "resource curse" vanishes for countries with stable administration and better institutions, like Norway, due to how the resource rents, which is to say the returns from the investment of the extractions are being distributed, while countries rich in resources, like Iran and Saudi Arabia, are still developing and are accompanied by a rising le...

• Word Count: 1045
• Approx Pages: 4
• Has Bibliography
• Grade Level: Graduate