Of resources and wealth
Believe it or not, there are a number of economists who argue that nations with abundant natural resources are destined to be poor. As evidence, they showcase oil rich countries like Iraq and Venezuela as prime examples. But according to the National Center for Policy Analysis, such claims are unsupported, as recent studies reveal it is government policies, not rocks and minerals, that are to blame. These studies point to the real world example of the United States, for instance, which experienced great economic development while becoming the world's leader in iron ore, timber, and zinc production, among others. [...]