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Economics

Dutch Disease and Deindustrialization in Resource-Rich Economies

Quick fact

The term 'Dutch disease' was coined in 1977 by The Economist to describe the economic problems the Netherlands faced after discovering massive natural gas reserves in the North Sea in the 1960s.

Why this is interesting

What if finding a fortune in natural resources could actually make a country poorer over time? The Dutch disease phenomenon shows this seemingly impossible scenario can be real.