Table of contents • Introduction • Natural Resources and National Wealth • Human Capital and National Wealth • Infrastructure and National Wealth • International Trade and National Wealth • Conclusion Introduction

Natural Resources and National Wealth
Picture this: you live in a country that is rich in natural resources, from minerals to forests to oil, you name it. This country seems to have everything going its way, right? Well, not really. The mere possession of natural resources does not always translate to high national wealth. In fact, national wealth composition is a result of a complex interplay of different factors, one of which is the role of natural resources. Natural resources, as the name suggests, are a crucial component of a country's wealth. They can either be the source of the country's economic strength or can lead to its downfall. Sustainable resource management is therefore essential for its continued growth. The overexploitation of natural resources causes serious problems, such as depletion of resources, environmental degradation, and conflicts between communities. These problems eventually lead to reduced national wealth. Protection of the environment that contains these resources is therefore an integral component of growth. Speaking of environmental protection, you don't need a university degree to see that environmental pollution impacts national wealth negatively. Pollution of the air, soil and water leads to a decline in the quality of life, reduced health and even deaths. The cost of treating pollution-related illnesses and cleaning up polluted environments takes a significant toll on the economy. Therefore the role of the environment should not be overlooked when it comes to national wealth.
Despite the fact that natural resources play a significant role in a country's wealth, it's important to note that not all nations possess abundant natural resources, yet they still manage to attain wealth. Innovative technologies, a skilled workforce, and favorable government policies are also notable contributing factors. In fact, these intangibles have the potential to be of greater importance than the presence of natural resources. Additionally, investing in education and technology can stimulate economic growth, which in turn can bring in more foreign investment and improve the quality of life of citizens. Therefore, national wealth is a result of a combination of factors, including natural resources.