While this is true, resources are limited, and the real problem lies in using these limited resources effectively. You mentioned corruption, and I believe this is where the first problem begins. Then there's the income distribution and improper distribution.
Many sources may have said it because of those who want to call it a scarcity, and yes, scarcity is a problem, but we shouldn't attribute the global economic downturn to it. With sustainable production and consumption, these problems wouldn't exist, but leaders don't want that.
I think it's all about corruption. Because even the small countries like Japan that aren't big and rich in many things yet, they're able to grow their country economically. And they're also growing their own source and that's the reason why they're a first world countries. Corruption isn't tolerated there and if they're facing an economic crisis, they're doing all sorts of solutions to help the even smallest citizen in the society. Their yen has gone down for the past years but they're starting to recover now. So, it's up to the leadership, and how corrupt practices are rampant into a country.
Corruption is indeed a problem, and I see it occurring in developing countries. Many still prioritize individual or group interests over the state or society. In my country, corruption remains rampant and very difficult to overcome, perhaps because there are too many irresponsible individuals.
Well, I think one way to address this is by improving the public's intellectual capacity. In my country, the lower-middle class is easily manipulated, especially during elections, for example, when they vote based on the money they receive from prospective leaders.