Natural resources, economic rents and social justice in contemporary Africa

Natural resources, economic rents and social justice in contemporary Africa

Author: 
Zack-Williams, Alfred
Publisher: 
Taylor & Francis Group
Date published: 
2016
Record type: 
Region: 
Journal Title: 
Review of African Political Economy
Source: 
Review of African Political Economy, Vol. 43, No. 150, December 2016, pp. 533-539
Abstract: 

....The first two articles in this general issue of ROAPE address issues of natural resource trap, economic rent, transfer pricing, and resource curse in relations to the diamond mining industries in Namibia and South Africa; in particular, they raise questions about the role of multinationals in African mining industries and how they impact on the African state. The idea of a resource curse and of the differential impact of resources on different parts of the world has been summarised by a number of writers including Collier (2007 Collier, P. 2007. The Bottom Billion: Why The Poorest Countries are Failing and What Can be Done About It. Oxford: Oxford University Press. [Google Scholar]) and Beattie (2009 Beattie, A. 2009. False Economy: A Surprising Economic History of the World. New York: Riverhead Books. [Google Scholar]), who provides a useful summary by posing the question: 'why are oil and diamonds more trouble than they are worth?' (102). In Beattie's view, it is simply uncanny that such prized commodities should enervate their locator (the land containing the resources). In looking at this problem, Beattie warns that national economies progress because they 'provide goods and services, not because they own a source of basic commodities' (103), however important these might be for industrial transformation.....

Language: 

CITATION: Zack-Williams, Alfred. Natural resources, economic rents and social justice in contemporary Africa . : Taylor & Francis Group , 2016. Review of African Political Economy, Vol. 43, No. 150, December 2016, pp. 533-539 - Available at: https://library.au.int/natural-resources-economic-rents-and-social-justice-contemporary-africa