Why does economic development lead to greater democracy, improved human rights, and less repression in some countries but not others? While the resource curse offers a partial explanation, we propose a broader framework: the appropriation curse. This theory posits that appropriable wealth, such as natural resources or agrarian commodities tied to territory, can be taken by force. Such wealth incentivizes violence and fosters autocratic institutions designed to extract and exclude. States with a higher share of appropriable wealth can maintain control and extract resources without granting rights, weakening the link between economic development, democracy, and human rights. We test this theory using a new measure of land rents as a proxy for appropriable wealth. Our findings provide a more comprehensive understanding of the connections between wealth, development, governance, and repression, offering insights into why economic progress does not universally promote democratic outcomes or reduce human rights abuses.