We tell ourselves that skill is the precious resource and effort is the commodity.
In other words, scarcity of any important commodity or natural resource increases the scarcity of others.
FORBES: Barrick's Reverse Midas Touch And Other Golden Rules
And face it, the world suffers overall resource scarcity, and shortages of any critical commodity (like water) translate into scarcity of them all.
FORBES: Barrick's Reverse Midas Touch And Other Golden Rules
One was upbeat, forecasting a period of higher commodity prices that would fuel the resource sector, rising exports, and low double-digit stock market gains in New York and a high single-digit advance in Toronto.
Economists warn that resource-rich Indonesia is especially vulnerable to falling commodity prices, which could also pull money out of the pockets of mining workers.
Resource firms recovered some of their recent losses, as commodity prices strengthened overnight.
In today's economy, says Ambassador Pickering, "energy is increasingly more important to development, " not only as a resource for cars and computers, but as a powerful commodity market.
In today's economy, says Ambassador Pickering, "energy is increasingly more important to development, " not only as a resource for cars and computers but also as a powerful commodity market.
"It's clear revenues from resource rent taxes have taken a massive hit from the impact of continued global instability, commodity price volatility and a high dollar, " Mr Swan said.
First, because commodity backed currencies (in this case gold) are basically tied to a finite resource that can not be counterfeited, a deflationary economic environment is created.
Speculation runs rampant in commodity exchanges, stoked by political turmoil and conflict in many oil-producing states and by "resource nationalism" emboldened by the high prices .
The resource curse damages the economies of countries blessed with great exportable natural wealth, increasing volatility by an overreliance on global commodity prices, starving other sectors, distorting exchange rates, and driving painful cycles of boom and bust.
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