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30-535: It was originally built in 1859 by Captain William Wilson, a local lumber baron , first mayor of Menomonie and the area's first state senator. The house was originally built in the colonial style, and was much bigger than it is today. Wilson built a sandstone wall around the 22-acre estate in 1875, part of which still stands. The building was given the name Wilson Place in 1859, which Wilson's descendants maintained through their ownership. Wilson died in 1892 and

60-452: A certain rate and natural processes will restore them. In contrast, many extractive industries rely heavily on non-renewable resources that can only be extracted once. Natural resource allocations can be at the centre of many economic and political confrontations both within and between countries. This is particularly true during periods of increasing scarcity and shortages ( depletion and overconsumption of resources). Resource extraction

90-901: A country's wealth; however, a sudden inflow of money caused by a resource boom can create social problems including inflation harming other industries (" Dutch disease ") and corruption, leading to inequality and underdevelopment, this is known as the " resource curse ". Extractive industries represent a large growing activity in many less-developed countries but the wealth generated does not always lead to sustainable and inclusive growth . People often accuse extractive industry businesses as acting only to maximize short-term value, implying that less-developed countries are vulnerable to powerful corporations. Alternatively, host governments are often assumed to be only maximizing immediate revenue . Researchers argue there are areas of common interest where development goals and business cross. These present opportunities for international governmental agencies to engage with

120-465: A major source of social unrest and conflicts in developing nations. At present, there is a particular concern for rainforest regions that hold most of the Earth's biodiversity. According to Nelson, deforestation and degradation affect 8.5% of the world's forests with 30% of the Earth's surface already cropped. If we consider that 80% of people rely on medicines obtained from plants and 3 ⁄ 4 of

150-729: A retirement home. The Dotseths decided to open the home as a museum, instead, receiving non-profit status in 2002. It has been preserved as the Wilson Place Museum to provide visitors a view into the lives of the Wilson, Stout, and LaPointe families, the founders of Menomonie , the University of Wisconsin-Stout , and the Knapp, Stout & Co. lumber company, as well as the history of Menomonie. Lumber baron A business magnate , also known as an industrialist or tycoon ,

180-551: Is a person who has achieved immense wealth through the creation or ownership of multiple lines of enterprise . The term characteristically refers to a powerful entrepreneur and investor who controls, through personal enterprise ownership or a dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals have been known by different terms throughout history, such as robber barons , captains of industry , moguls, oligarchs , plutocrats , or tai-pans . The term magnate derives from

210-515: Is a type of land management that seeks to conserve , protect and restore habitat areas for wild plants and animals , especially conservation reliant species , and prevent their extinction, fragmentation or reduction in range . Natural resource management is a discipline in the management of natural resources such as land, water , soil , plants , and animals —with a particular focus on how management affects quality of life for present and future generations. Hence, sustainable development

240-529: Is also a major source of human rights violations and environmental damage. The Sustainable Development Goals and other international development agendas frequently focus on creating more sustainable resource extraction, with some scholars and researchers focused on creating economic models, such as circular economy , that rely less on resource extraction, and more on reuse , recycling and renewable resources that can be sustainably managed. There are various criteria for classifying natural resources. These include

270-438: Is another factor causing depletion of natural resources. For example, the depletion of nutrients in the soil due to excessive use of nitrogen and desertification . The depletion of natural resources is a continuing concern for society. This is seen in the cited quote given by Theodore Roosevelt , a well-known conservationist and former United States president, who was opposed to unregulated natural resource extraction. In 1982,

300-510: Is considered a sustainable development issue. The term sustainable development has many interpretations, most notably the Brundtland Commission's 'to ensure that it meets the needs of the present without compromising the ability of future generations to meet their own needs'; however, in broad terms it is balancing the needs of the planet's people and species now and in the future. In regards to natural resources, depletion

330-417: Is followed according to the judicious use of resources to supply present and future generations. The disciplines of fisheries, forestry, and wildlife are examples of large subdisciplines of natural resource management. Management of natural resources involves identifying who has the right to use the resources and who does not to define the management boundaries of the resource. The resources may be managed by

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360-596: Is of concern for sustainable development as it has the ability to degrade current environments and the potential to impact the needs of future generations. "The conservation of natural resources is the fundamental problem. Unless we solve that problem, it will avail us little to solve all others." Theodore Roosevelt Depletion of natural resources is associated with social inequity . Considering most biodiversity are located in developing countries, depletion of this resource could result in losses of ecosystem services for these countries. Some view this depletion as

390-608: Is the scientific study of the nature and status of Earth's biodiversity with the aim of protecting species , their habitats , and ecosystems from excessive rates of extinction . It is an interdisciplinary subject drawing on science, economics and the practice of natural resource management . The term conservation biology was introduced as the title of a conference held at the University of California, San Diego , in La Jolla, California, in 1978, organized by biologists Bruce A. Wilcox and Michael E. Soulé . Habitat conservation

420-742: The Japanese word taikun ( 大君 ) , which means "great lord", used as a title for the shōgun . The word entered the English language in 1857 with the return of Commodore Perry to the United States. US President Abraham Lincoln was humorously referred to as the Tycoon by his aides John Nicolay and John Hay . The term spread to the business community, where it has been used ever since. Modern business magnates are entrepreneurs that amass on their own or wield substantial family fortunes in

450-640: The Latin word magnates (plural of magnas ), meaning "great man" or "great nobleman". The term mogul is an English corruption of mughal , Persian or Arabic for "Mongol". It alludes to emperors of the Mughal Empire in Early Modern India , who possessed great power and storied riches capable of producing wonders of opulence, such as the Taj Mahal . The term tycoon derives from

480-583: The United Nations developed the World Charter for Nature , which recognized the need to protect nature from further depletion due to human activity. It states that measures must be taken at all societal levels, from international to individual, to protect nature. It outlines the need for sustainable use of natural resources and suggests that the protection of resources should be incorporated into national and international systems of law. To look at

510-552: The private sector and host governments through revenue management and expenditure accountability, infrastructure development, employment creation , skills and enterprise development , and impacts on children, especially girls and women. A strong civil society can play an important role in ensuring the effective management of natural resources. Norway can serve as a role model in this regard as it has good institutions and open and dynamic public debate with strong civil society actors that provide an effective checks and balances system for

540-515: The environment. Every man-made product is composed of natural resources (at its fundamental level). A natural resource may exist as a separate entity such as freshwater, air , or any living organism such as a fish, or it may be transformed by extractivist industries into an economically useful form that must be processed to obtain the resource such as metal ores , rare-earth elements , petroleum , timber and most forms of energy . Some resources are renewable , which means that they can be used at

570-567: The government as in Norway's case, natural resources can actually be a factor in whether a civil war starts and how long the war lasts. In recent years, the depletion of natural resources has become a major focus of governments and organizations such as the United Nations (UN). This is evident in the UN's Agenda 21 Section Two, which outlines the necessary steps for countries to take to sustain their natural resources. The depletion of natural resources

600-510: The government's management of extractive industries, such as the Extractive Industries Transparency Initiative (EITI), a global standard for the good governance of oil, gas and mineral resources. It seeks to address the key governance issues in the extractive sectors. However, in countries that do not have a very strong and unified society, meaning that there are dissidents who are not as happy with

630-410: The home in the early 1920s. The LaPointes also undertook a large remodeling project, reducing the size of the house by two-thirds, transforming it into a Mediterranean style villa in 1931. This is the version of the building that currently stands. Irene LaPointe died in 1974, and the building was acquired by local couple Jackie and John Dotseth, who were not aware of its history and intended to use it as

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660-573: The home passed to his daughter, Angelina, the wife of James Huff Stout , son of Henry L. Stout, one of the original partners of the Knapp, Stout & Co. Company. The Stouts undertook a large remodeling project, expanding the building into a large mansion in the Queen Anne style . This included the addition of 17 marble fireplaces, a ballroom, a carved mahogany staircase, and wrap-around porches. Wilson's grandson, George Wilson LaPointe, Jr., another lumber baron, and his wife Irene took possession of

690-661: The importance of protecting natural resources further, the World Ethic of Sustainability, developed by the IUCN , WWF and the UNEP in 1990, set out eight values for sustainability, including the need to protect natural resources from depletion. Since the development of these documents, many measures have been taken to protect natural resources including establishment of the scientific field and practice of conservation biology and habitat conservation, respectively. Conservation biology

720-404: The nature of the shared resources, the individuals who are affected by the rules can participate in setting or changing them. The users have rights to devise their own management institutions and plans under the recognition by the government. The right to resources includes land, water, fisheries, and pastoral rights. The users or parties accountable to the users have to actively monitor and ensure

750-671: The process of building or running their own businesses. Some are widely known in connection with these entrepreneurial activities, others through highly-visible secondary pursuits such as philanthropy , political fundraising and campaign financing, and sports team ownership or sponsorship. The terms mogul , tycoon , and baron were often applied to late-19th- and early-20th-century North American business magnates in extractive industries such as mining , logging and petroleum , transportation fields such as shipping and railroads , manufacturing such as automaking and steelmaking , in banking , as well as newspaper publishing. Their dominance

780-591: The source of origin, stages of development, renewability and ownership . Resource extraction involves any activity that withdraws resources from nature. This can range in scale from the traditional use of preindustrial societies to global industry. Extractive industries are, along with agriculture, the basis of the primary sector of the economy. Extraction produces raw material , which is then processed to add value . Examples of extractive industries are hunting , trapping , mining , oil and gas drilling , and forestry . Natural resources can add substantial amounts to

810-689: The sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest, and cultural value. On Earth , it includes sunlight , atmosphere , water , land , all minerals along with all vegetation , and wildlife . Natural resources are part of humanity's natural heritage or protected in nature reserves . Particular areas (such as the rainforest in Fatu-Hiva ) often feature biodiversity and geodiversity in their ecosystems. Natural resources may be classified in different ways. Natural resources are materials and components (something that can be used) found within

840-443: The users according to the rules governing when and how the resource is used depending on local condition or the resources may be managed by a governmental organization or other central authority. A "...successful management of natural resources depends on freedom of speech, a dynamic and wide-ranging public debate through multiple independent media channels and an active civil society engaged in natural resource issues..." because of

870-487: The world's prescription medicines have ingredients taken from plants, loss of the world's rainforests could result in a loss of finding more potential life-saving medicines. The depletion of natural resources is caused by 'direct drivers of change' such as mining , petroleum extraction , fishing , and forestry as well as 'indirect drivers of change' such as demography (e.g. population growth), economy, society, politics, and technology. The current practice of agriculture

900-1636: Was known as the Second Industrial Revolution , the Gilded Age , or the Robber Baron Era . Examples of business magnates in the western world include historical figures such as pottery entrepreneur Josiah Wedgwood , oilmen John D. Rockefeller and Fred C. Koch , automobile pioneer Henry Ford , aviation pioneer Howard Hughes , shipping and railroad veterans Aristotle Onassis , Cornelius Vanderbilt , Leland Stanford , Jay Gould and James J. Hill , steel innovator Andrew Carnegie , newspaper publisher William Randolph Hearst , poultry entrepreneur Arthur Perdue , retail merchant Sam Walton , and bankers J. P. Morgan and Mayer Amschel Rothschild . Contemporary industrial tycoons include e-commerce entrepreneur Jeff Bezos , investor Warren Buffett , computer programmers Bill Gates and Paul Allen , technology innovator Steve Jobs , vacuum cleaner retailer Sir James Dyson , media proprietors Sumner Redstone , Ted Turner and Rupert Murdoch , industrial entrepreneur Elon Musk , steel investor Lakshmi Mittal , telecommunications investor Carlos Slim , Virgin Group founder Sir Richard Branson , Formula 1 executive Bernie Ecclestone , and internet entrepreneurs Larry Page and Sergey Brin . Natural resource Natural resources are resources that are drawn from nature and used with few modifications. This includes

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