The Judicious Management of the Natural Resources of a Country
Published: January 07, 2023
The real tangible wealth of any country is the natural resources which are extractable on a sustained basis. It is from this natural wealth that further capital (produced capital) is produced with the intervention of human capital. Since the extractable natural resources are limited, ultimately there is a limit to the wealth of a country. An increase in the wealth or growth in economy is not sufficient at all. The important thing is that what has been the distributary effect of the economic activities. With limited wealth, a country cannot have many excessively rich people without creating poverty. The wealth of a country is an asset which has to be utilized in a purposeful manner. If left to market forces, the limited wealth becomes distributed in a much skewed manner. If human capital is invested in evidently unnecessary pursuits, it will only result in the neglect of the essential needs of the society.
Keywords: Human capital; Natural resources; Natural wealth; Organic farming; Produced capital; Sustainability