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https://www.youtube.com/playlist?list=PLYmrKoSUL1xo Why are some countries rich in resources, yet poor? Venezuela holds the world's largest proven oil reserves: 303 billion barrels. Yet its daily output fell from 3.4 million barrels in 1998 to 540,000 in 2020, three-quarters of its economy vanished, and about 7.9 million people left the country. In this episode of World, Explained, we follow the pattern scholars call the resource curse: from Venezuela, Nigeria, and the Congo to the Netherlands' "Dutch disease," and to the two exceptions, Norway and Botswana, where the same resources took a completely different road. The difference, it turns out, was never underground. 🌐 Korean version: https://youtu.be/iKa5RKPVBQk 🌐 Versión en español: https://youtu.be/oJ0dkpTGgUg ⏱️ Chapters 0:00 Why Are Some Countries Rich in Resources, Yet Poor? 0:59 Chapter 1 · The Fallen No. 1 2:07 Chapter 2 · A Name for the Curse 3:19 Chapter 3 · Cause One: Dutch Disease 4:08 Chapter 4 · Cause Two: Price and Power 5:04 Chapter 5 · The Country That Escaped 6:04 Chapter 6 · Another Exception 7:06 Epilogue · A Story About Rules 📚 Sources OPEC Annual Statistical Bulletin 2025 (proven crude reserves) IMF (Venezuela's economic contraction, 2013–2021) R4V / UNHCR (Venezuelan refugees and migrants) Nigeria National Bureau of Statistics (multidimensional poverty, 2022) USGS Mineral Commodity Summaries 2025 (cobalt) NBIM Annual Report 2025 (Norway's sovereign wealth fund) World Bank (Botswana growth and income data) Wikipedia (resource curse, Dutch disease) 🎵 Music "Oppressive Gloom", "Dark Times" by Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 4.0 License http://creativecommons.org/licenses/by/4.0/ ⚠️ This video explains the history and structure of resource-dependent economies. It is not investment advice. #ResourceCurse #Oil #Venezuela #Norway #WorldExplained

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