Some economists contend that natural resources can be a curse for developing countries.
William Ascher, a Duke University professor of public policy studies and political science, does not subscribe to that philosophy, but understands why some people feel that way. There is now a school of thought that perhaps it would be better for countries not to exploit their natural resources at all, or do it on a very limited basis. Ascher believes that natural resources, when sensibly managed, can lead to economic well-being. He cites as an example Chile, which has devoted money made by its copper mines for other productive ends, particularly in agriculture. Using 16 case studies from Africa, Asia and Latin America, he documents how misguided policies and clashes among government agencies have led to results ranging from Indonesia's deforestation to the collapse of the Mexican water system, from the destruction of cocoa farms in Ghana to the waste of Nigeria's oil wealth.