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Introduction to the Term ‘Second World’ The term ‘second world’ has had different interpretations throughout history. Initially, it referred to the Soviet Union and the countries under its sphere of influence, forming the communist bloc during the Cold War era. However, with the end of the Cold War in 1989-1991,
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Understanding the Concept of the Resource Curse The term ‘resource curse’ refers to an intriguing economic paradox that affects some countries with abundant natural resources – they underperform economically despite their riches. The resource curse, also known as the paradox of plenty or the resource trap, arises mainly when a
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