Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Saturday, May 21, 2005

Emiratization: The UAE is very different

Regular readers of The Eclectic Econoclast have seen many mentions of and references to The Emirates Economist. At this point, I would like to draw attention to a few things I think I have learned from him over the past six months:
  • The United Arab Emirates is more open than many other oil-rich (or poor, for that matter) Muslim states.
  • The economic growth and economic liberalization in the United Arab Emirates are a long way from laissez faire, but they are much closer than in many other predominately Arab countries.
  • The excitement and challenges of living in growing, modern cities is equaled by the awe of the dunes and deserts and history.
  • Rent-seeking is everywhere.

Major conclusion: do not assume that all oil-rich middle eastern Muslim countries are the same.

Update: for some different perspectives, see Secret Dubai or The Freaking Truth.

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