Why should we care about Natural Resources?

We live in a world which is mostly driven by economy. We value our lives based on economic prosperity. But, is that a good index to define our lives?

Let us have a look at “diamond-water paradox,” which economist Adam Smith pondered but was unable to solve.

Smith noted that, even though life cannot exist without water and can easily exist without diamonds but diamonds are generally costlier than water.

Eco-centric approach of environmental ethics tells us that we are also a part of this ecosystem and we should not overexploit the natural resources. However, for economic prosperity we are doing so. Are we really becoming rich by trading our natural resources?

The resource curse, also known as the paradox of plenty or the poverty paradox, is the phenomenon of countries with an abundance of natural resources ( fossil fuels and minerals) having less economic growth or less development outcomes than countries with fewer natural resources.

We should stop this rat race and have a closer look to conserve our natural resources.