resource curse
n.— «Although economic growth is a key ingredient to poverty reduction, some academics have formulated the “resource curse” theory, which, broadly stated, includes the proposition that an economy blessed with abundant, but finite, natural resources that bring in large earnings become less competitive in other sectors. Also, dependence on such earnings is problematic if the prices of the minerals in question are volatile in the short-term or subject to sustained decline over the long-term.» —“Taking Stock – Making mining investment count” World Mining Stocks May 22, 2008. (source: Double-Tongued Dictionary)
Further reading
Responding to our conversation about the word chat, meaning “the gravelly residue of mines,” Isabella from Marquette, Michigan, reports that where she lives, in the state’s Upper Peninsula, such runoff is commonly called slag. She uses some made-up...
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