Other aspects of the resource curse that are relevant to resource rich African nations are economies that fluctuate wildly with world commodity prices which lead to whipsaw effects and difficulties in planning and investment, a lower return to investments in human capital and natural resource development being more amenable to corrruption than other industries.
Norway was worried about this as well so that's why they created their sovereign wealth fund.
Of course. But the solution differs depending on whether the problem today is underdevelopment or overexploitation. Most current thinking seems to tend to try to fix the former problem, not the latter. But whatever they are doing, it does not seem to be helping; these countries have been “developing” for 50 years. You’d think if they were simply underdeveloped, they would have developed by now.
In my opinion, that's just a defeatist view because it means poor people in underdeveloped countries will remain poor unless we somehow manage to entirely undo 500 years of colonial history.
Rather than dwell on the past, we should try and find ways to create a better future. Mind you, this doesn't mean forgetting about the past and the atrocities committed under colonialism or revising history accordingly, but rather have that past inform our actions today.