Primitive to sublime
The world in which we live is full of natural resources and the economics around them can bring many pleasant and regrettable memories. From the Arctic to Antarctica, nature’s bounty abounds though not always in ways that we cherish. Natural resources like bauxite, gold, iron, silver, phosphates and uranium, for example, are not readily visible to the naked eye since many are holed up in the crust of the earth. We find some of resources too in the depths of the streams, lakes, rivers, and seas, as well as in the forests, the swamps and grasslands. Science has made them known to us. Like the material below the ground, the forests and waterways are there for our use and serve as feeding troughs for the animals, birds, fish, insects and reptiles with which we share the planet. Technology has made natural resources available to us in natural and modified form and has enabled man to change many things of nature to his own liking. These very offerings have helped mankind to transform his life from the primitive to the sublime. The entire process from extraction to consumption helps to define progress, measure wealth and determine one’s station in life.
Negative connotation
Very often, when conversations about natural resources arise, the world is invariably divided into two parts, developed and developing, for convenient analysis. Placement into one category or the other is determined by economic criteria such as level of per capita GDP, extent of dependence on natural resources or level of industrialization, and extent of innovation. An economic contrast is often made between manufactures and primary commodities and whenever the ratio of manufactures to commodity significantly favours manufactures, countries are thought of as developed. In addition, most developing countries depend on one or two natural resource products to earn income. They struggle with providing access to potable water, healthcare, good sanitation, and education for their people. They tend to have poor infrastructure in most of the country. These are things that are identified with poverty and deprivation. As a result, dependence on natural resources tends to carry a negative connotation.
Nothing demeaning
Yet, there is nothing demeaning about being a natural resource producer. The ‘Who’s Who’ of natural resources contains nearly as many developed countries as developing countries. Of the 10 countries thought to be the most resource rich, four are developed countries. At the top of the list is Russia which is reported to have US$75.7 trillion worth of natural resources. It obviously has many different types of natural resources including gold, but its current worth is built on the
