# Monday Musings  Author:: David Perell ## Highlights > **​** [**From Wealth to Poverty**](https://click.convertkit-mail.com/92u55d7ooounhqqw6d8i9/dpheh0hqn6d69dtm/aHR0cHM6Ly9pZGVhcy5yZXBlYy5vcmcvcC9jZ2Uvd2FjYWdlLzU3NC5odG1s) **:** Portugal's output per person was higher than either France or Spain in the 18th century. A century later, it was the poorest country in Western Europe. An economic resource curse was to blame. The discovery of gold in Brazil made the Portuguese less competitive in the tradeables sector and led to a rise in prices for non-tradable goods relative to tradeables imports. This process, where the rapid development of one sector in the economy precipitates a decline in other sectors and appreciates the value of the currency, is known as Dutch Disease. For Portugal, the discovery of gold crushed other parts of its economy. ([View Highlight](https://read.readwise.io/read/01g7761ss0j2ew0wm23yhh942b)) --- Title: Monday Musings Author: David Perell Tags: readwise, articles date: 2024-01-30 --- # Monday Musings  Author:: David Perell ## AI-Generated Summary I came out here for a wedding, and will now spend the week rewriting my Ultimate Guide to Writing Online. ## Highlights > **​** [**From Wealth to Poverty**](https://click.convertkit-mail.com/92u55d7ooounhqqw6d8i9/dpheh0hqn6d69dtm/aHR0cHM6Ly9pZGVhcy5yZXBlYy5vcmcvcC9jZ2Uvd2FjYWdlLzU3NC5odG1s) **:** Portugal's output per person was higher than either France or Spain in the 18th century. A century later, it was the poorest country in Western Europe. An economic resource curse was to blame. The discovery of gold in Brazil made the Portuguese less competitive in the tradeables sector and led to a rise in prices for non-tradable goods relative to tradeables imports. This process, where the rapid development of one sector in the economy precipitates a decline in other sectors and appreciates the value of the currency, is known as Dutch Disease. For Portugal, the discovery of gold crushed other parts of its economy. ([View Highlight](https://read.readwise.io/read/01g7761ss0j2ew0wm23yhh942b))