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> Somewhere around two-thirds of Saudi nationals work for the government. Many of these people do virtually nothing, they are employed simply for social purpose
by return0 8y ago
> Somewhere around two-thirds of Saudi nationals work for the government. Many of these people do virtually nothing, they are employed simply for social purposes, to keep the population happy. Thus, their incomes are very similar to universal basic incomes. The Saudi government gets 90 percent of its income from oil revenue, which given the ease of producing oil in Saudi Arabia and the use of foreign partners to do much of the producing makes this revenue source pretty similar to simply printing money. In Saudi Arabia money doesn’t grow on trees, but it does bubble out of the ground.
Saudi has been running a real large scale UBI experiment for decades, showing how you end up a stagnant, backwards and authoritarian society.
https://www.forbes.com/sites/jeffreydorfman/2016/10/03/saudi-government-budget-cuts-prove-basic-income-is-no-solution-to-slow-economic-growth/#3d440ead4bbe https://www.forbes.com/sites/jeffreydorfman/2016/10/03/saudi...
- joosters 8y ago'End up?' What do you think the Saudi economy/society was like before the oil?
- return0 8y ago> Until the 1960s, most of the population was nomadic or seminomadic; due to rapid economic and urban growth, more than 95% of the population is now settled. you would expect that the massive population explosion, enrichment and urbanization would empower at least some liberalization some 3 generations later, or at least catch up with average middle east culture