Saturday, July 25, 2020

Solving the Problem of Scarce Natural Resources among Nations


A former participant in GE’s Experienced Commercial Leadership Program (ECLP), Delaena Kalevor most recently served as vice president of strategic initiatives at Synchrony Financial. Delaena Kalevor has an MBA from Simon School, University of Rochester and possesses experience in business leadership, strategy, and wealth management. Among other interests, he focuses on world issues, particularly global economics. One global economic challenge is finding a solution to the long-term problem of scarce natural resources.

Natural resources are scarce, given their finite nature and confinement to specific geographical locations. Thus, they're only readily accessible to a few. This scarcity creates competition between those who have particular resources and those who do not. Taking proactive steps can help combat this imbalance. One such measure is to prioritize human resources over natural resources. Human capital has the potential to facilitate economic growth and national prosperity. This can be accomplished via programs to end extreme property and equitably distribute resources among citizens.

Another measure that could help solve the problem of scarce natural resources is globalization. This growing interdependence among countries has led to economic growth and prosperity in some nations. However, in other countries, economic stability is threatened by civil unrest, conflict, and competition over scarce natural resources. Sustainable globalization management and conflict resolution are essential to ending the tussle over limited natural resources.

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