『Abstract
　Recent studies assert that natural resource abundance (particularly minerals) has adverse consequences for economic growth. This paper subjects this “resource curse” hypothesis to critical scrutiny. Our central point is that it is inappropriate to equate development of mineral resources with terms such as “windfalls” and “blooms.” Contrary to the view of mineral production as mere depletion of a fixed natural “endowment,” we show that so-called “nonrenewable” resources have been progressively extended through exploration, technological progress, and advances in appropriate (often country-specific) knowledge. Indeed, minerals constitute a high-tech knowledge industry in many countries. Investment in such knowledge should be seen as a legitimate component of a forward-looking economic development program.』

(Introduction)
Historical background: The United States as a resource-based economy
　The endogeneity of American mineral resources
　The case of copper
Resource-rich underachievers
The rise of petroleum: Causes and implications
　Oil and economic development
　The case of Norway
　The case of Venezuela
Minerals and economic development: Modern success stories in Latin America
　Chile
　Peru
　Brazil
Australia
The development potential of minerals
Conclusion
References