I was surprised at the level of detail of economic theory he goes into.
Does he ever really explain why these oil-rich countries will not emerge from oil-based economies into continued prosperity?
He says the oil-revenue investments are not transparent, the labor force is coerced and trapped, and the banks are constrained by Muslim ideology, and it's hard for them to transition out of oil into other industries because they had no large industries prior to oil which they can fall back on.
That's pretty comprehensive, but it still doesn't prevent them from reinventing themselves, their banks, and their social investments to permit future prosperity.
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