This book, first published in 1987 and by one of Saudi Arabia's
most distinguished academics, reviews the experience of the Arab
oil producers in social, economic and political development in the
key period of the Seventies and Eighties. It is broadly pessimistic
about the prospects for future development and sceptical about past
achievements. It argues that the 'petro-bureaucracy' in the Arabian
Peninsula has failed to establish the basic principles of effective
development because it has been mesmerised by the vast oil revenues
it has attempted to administer. The book suggests that in many
respects the oil revenues have obstructed serious development
because they have made the Arabian economies totally dependent on
one expendable resource and this has made them too vulnerable to
external pressures and interests. Furthermore, the oil revenues
have encouraged fantasy and wishful thinking which have skewed the
development process and stimulated pseudo-development. The book
makes clear that until the petro-bureaucracy adopts a realistic
approach to development there can be no prospect of real
development in the Arabian Peninsula.
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