Breaking: I am receiving reports that #Saudi @KingSalman is in critical condition. The 85 year old despot was a life-long smoker, Parliament & red Marlboro cigarettes & consumer of P&G whisky among other things. He remains at his palace. I am waiting 4 more info as of his death— Ali AlAhmed (@AliAlAhmed_en) September 21, 2020
Mate you don't need to believe in capitalism and the free market to know that that would be preferable to what they had before. As unsustainable capitalism is, a state entirely reliant on imports and who's only export is a fossil fuel is even less sustainable. Without diversification KSA would just straight up collapse in a decade or two when the decline of oil gets too much.
I (and probably OP as well I'd imagine) despise both systems and would obviously rather see a socialist state but in the context of the KSA, that's just wasted breath to talk about. If you were talking about how the KSA would continue to exist (which he was) then diversifying the economy into a market system is the only way forward from the perspective of the house of Saud.
No offense to the Saudis, but they're not exactly good at literally anything. They just have tons of dough from an extraction economy and the willingness to blow it on shit.
The Saudis can't manufacture, develop software, build/construct buildings-- they have to get most expertise from outside the country. The economy of SA is pathetic outside of it's oil extraction. Who the fuck would buy anything Saudi made?
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Mate you don't need to believe in capitalism and the free market to know that that would be preferable to what they had before. As unsustainable capitalism is, a state entirely reliant on imports and who's only export is a fossil fuel is even less sustainable. Without diversification KSA would just straight up collapse in a decade or two when the decline of oil gets too much.
I (and probably OP as well I'd imagine) despise both systems and would obviously rather see a socialist state but in the context of the KSA, that's just wasted breath to talk about. If you were talking about how the KSA would continue to exist (which he was) then diversifying the economy into a market system is the only way forward from the perspective of the house of Saud.
No offense to the Saudis, but they're not exactly good at literally anything. They just have tons of dough from an extraction economy and the willingness to blow it on shit.
The Saudis can't manufacture, develop software, build/construct buildings-- they have to get most expertise from outside the country. The economy of SA is pathetic outside of it's oil extraction. Who the fuck would buy anything Saudi made?