How the World's Richest Country Lost 90% of its GDP

Explains how finite natural resources can trigger extreme output collapse in a small economy.

Development & poverty trapsExplainerintroductorycommodity dependencygdp collapsenatural resource depletionphosphate miningresource cursesmall island economy

Recommended by

• Economics Explained · 2022-12-24

Related

• How China Is Restarting Its Economy — Economics Explained
• Living Paycheck to Paycheck? So Is Everyone Else — Economics Explained
• Australia May Have Just Solved The Housing Crisis — Economics Explained
• How Old Money Kills Economies — Economics Explained
• Why Argentina Wants the World’s Corrupt Billionaires — Economics Explained
• What Happens When AI Is Free ... South Korea Tried It — Economics Explained