4 ms·
It gets worse, >90 percent of government revenues are from oil; 70 percent of working Saudis are employed by the government I don't think they've worked out t
by eudox 11y ago
It gets worse,
>90 percent of government revenues are from oil; 70 percent of working Saudis are employed by the government
I don't think they've worked out the problem of stable succession either, given that every change in King has been from a brother to another[0], rather than to a son.
[0]: https://en.wikipedia.org/wiki/King_of_Saudi_Arabia#Kings_of_Saudi_Arabia_.281932.E2.80.93present.29 https://en.wikipedia.org/wiki/King_of_Saudi_Arabia#Kings_of_...
- objclxt 11y agoSuccession is especially complicated since the King may take any number of wives, meaning there are a lot of brothers in line.
- pmalynin 11y ago2006 decree makes it such that next King is elected by a counsel of Princes.
- n0us 11y agoThe Cost of Rights http://www.amazon.com/The-Cost-Rights-Liberty-Depends/dp/0393320332 http://www.amazon.com/The-Cost-Rights-Liberty-Depends/dp/039... is an interesting read on this topic. It basically talks about how taxes are necessary and these movements to eliminate taxes completely are completely off base. I would argue that a sufficiently extreme distribution of wealth makes democracy impossible and the "rights" that the Saudis afford their people are not "rights" at all in any meaningful sense but rather just a way of placating people so they can hold onto control of the oil.
- airplane 11y agoA possible fix is to start investing, but it may be too late. If I remember correctly I think investing for profit is a gray area in Islam, but Kuwait did it and if I remember correctly they use to have more returns from their investments then they did on oil and paid every citizen a base salary from it (until Saddam invaded and they had to cash out).
- digi_owl 11y agoBest i recall, there is some issues with lending and interest. After all ol' Muhammad was a merchant by trade...
- simplect 11y agoTrade and investing is permissible in Islam. However interest and derivative financial instruments are strictly prohibited for various reasons, one of which is trying to avoid "renters' economy.
- madengr 11y agoBrother, son, it's all the same with inbreeding to maintain Saudi Royal heredity.