From Colonial Extractivism to Neo-Extractivism: A Modern Resource Curse?

Economic instability and social inequality in resource-rich nations, often referred to as the "resource curse," are rooted in the extractivist economic model. Neo-extractivism, while aiming to allocate resource revenues to social welfare, often perpetuates detrimental cycles of exploitation. Despite reformist intentions, neo-extractivism can lead to severe social and environmental issues as seen in countries like Honduras and Ecuador.